LONDON, UK / ACCESSWIRE / September 21, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Golar LNG Ltd (NASDAQ: GLNG), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=GLNG, following the Company's announcement of its financial results on August 30, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Hamilton, Bermuda-based Company's total operating revenue rose sequentially during the reported quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Earnings Reviewed
In Q2 FY17, Golar LNG total operating revenue improved to $28.41 million from $25.11 million recorded at the end of Q1 FY17. Total operating revenue numbers for Q2 FY17 beat market consensus estimates of $17 million.
The natural gas shipping carrier operator reported net loss attributable to Golar of $73.81 million in Q2 FY17 compared to net loss attributable to Golar $65.84 million in Q1 FY17. The Company posted comprehensive loss attributable to stockholders of Golar of $73.84 million in Q2 FY17 compared to comprehensive loss attributable to stockholders of $64.18 million in Q1 FY17.
Operating Metrics
In the reported quarter, total operating expenses fell to $52.38 million from $66.50 million in Q1 FY17. During the reported period, vessel operating expenses were down to $12.10 million from $12.94 million in Q1 FY17. Furthermore, the Company's operating loss narrowed to $23.97 million during Q2 FY17 compared to the $41.39 million reported in the prior quarter.
Golar LNG reported net financial expenses of $40.95 million in Q2 FY17 compared to a net financial expense of $3.78 million in Q1 FY17. Meanwhile, the Company's EBITDA loss narrowed to $6.60 million in Q2 FY17 from EBITDA loss of $16.20 million in the last quarter.
Revenue Segmentation
Golar LNG's Time charter revenues revenue was $19.56 million for Q2 FY17, rising from the $12.73 million reported in Q1 FY17. The Company's Time charter revenues with collaborative arrangement revenue came in at $4.40 million for Q2 FY17 compared to $7.34 million in Q1 FY17. Furthermore, Vessel and other management fees revenue stood at $4.45 million for the reported quarter versus $5.05 million in the previous quarter.
Cash Matters and Balance Sheet
During the three months ended June 30, 2017, Golar LNG's net cash used by the operating activities was $16.48 million compared to net cash used in operating activities of $14.69 million in Q1 FY17. As on June 30, 2017, the Company had cash and cash equivalents balance of $343.23 million compared to $224.19 million as on December 31, 2016. Furthermore, the Company reported long-term debt amounting to $1.40 billion as on June 30, 2017, versus $1.53 billion as on December 31, 2016.
Dividend
In a separate press release on August 30, 2017, Golar LNG's Board of Directors announced a dividend of $0.05 per share. The dividend will be paid on October 04, 2017, to all shareholders on record as of September 14, 2017.
Stock Performance
On Wednesday, September 20, 2017, the stock closed the trading session at $21.15, advancing 3.22% from its previous closing price of $20.49. A total volume of 1.28 million shares have exchanged hands, which was higher than the 3-month average volume of 981.38 thousand shares. Golar LNG's stock price advanced 3.68% in the last one month. The stock has a dividend yield of 0.95%. The stock currently has a market cap of $2.10 billion.
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