NYSE$LNG

Cheniere Energy Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported strong first quarter results and raised full year 2021 guidance on strengthening global LNG market conditions.

Cheniere Energy reported strong first quarter 2021 results, with a 40% increase in Consolidated Adjusted EBITDA and a 200% increase in Distributable Cash Flow compared to the first quarter of 2020. The company also raised its full year 2021 Consolidated Adjusted EBITDA and Distributable Cash Flow guidance due to improved market margins.

  • Consolidated Adjusted EBITDA of approximately $1.5 billion for first quarter 2021, an increase of approximately 40% compared to first quarter 2020.
  • Distributable Cash Flow of approximately $750 million for first quarter 2021, an increase of approximately 200% compared to first quarter 2020.
  • Net income of $393 million, or $1.56 per share—basic and $1.54 per share—diluted, for first quarter 2021.
  • Increased full year 2021 Consolidated Adjusted EBITDA guidance to $4.3 - $4.6 billion and full year 2021 Distributable Cash Flow guidance to $1.6 - $1.9 billion due primarily to improved market margins.

Headline financials

Total Revenue

$3.09B

Previous: $2.71B+14.1%
EPS (adj)

$1.54

Previous: $1.43+7.7%
LNG Cargoes Exported

133

Previous: 128+3.9%
Capital Expenditures

-$190M

Previous: -$556M+65.8%
Free Cash Flow

$203M

Previous: -$181M+212.2%
Net Income

$393M

Previous: $375M+4.8%
Operating Income

$1.06B

Previous: $1.35B-21.0%
Gross Profit

$2.77B

Previous: $2.39B+15.7%
Cash & Equivalents

$1.67B

Previous: $2.4B-30.5%
Total Assets

$36.4B

Previous: $35.7B+1.8%
Stock-Based Comp

$32M

Previous: $29M+10.3%

Revenue & EPS history

Cheniere · Revenue · Quarterly

$3.09B

Q1 2021+14.1%vs Q1 2020
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Cheniere · $3.07B total across 2 segments · Q1 2021

  • LNG Revenues
    $3B+16.8%
  • Regasification Revenues
    $67M+0.0%

Forward guidance

Cheniere increased its full year 2021 Consolidated Adjusted EBITDA guidance to $4.3 - $4.6 billion and full year 2021 Distributable Cash Flow guidance to $1.6 - $1.9 billion due primarily to improved market margins.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+0.2%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+3.3%

Avg return

30 days after

58%

35 / 60 earnings

Positive

+12.6%

Q4 2011

Best reaction

-23.5%

Q2 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.0%-10.7%-11.5%
Q4 2025+5.3%+11.5%+34.5%
Q3 2025+0.3%-2.1%-1.3%
Q2 2025-1.6%-4.0%-1.6%
Q1 2025-0.7%-2.5%+1.8%
Q4 2024+3.7%-1.3%+3.7%
Q3 2024+3.1%+5.9%+23.1%
Q2 2024+3.1%+2.4%+1.7%
Q1 2024-2.4%-2.2%-1.8%
Q4 2023-4.1%-6.9%-2.9%
Q3 2023+2.9%+0.2%+7.7%
Q2 2023+2.6%+2.5%+5.2%
Q1 2023-6.2%-3.1%-7.0%
Q4 2022+6.7%+6.4%-0.4%
Q3 2022-3.8%-2.9%-2.2%
Q2 2022+0.9%+2.5%+11.7%
Q1 2022+1.7%-4.4%+1.1%
Q4 2021+8.7%+8.7%+25.5%
Q3 2021+2.1%+1.2%-2.0%
Q2 2021-0.9%+2.6%+5.2%
Q1 2021+2.8%+4.9%+10.7%
Q4 2020-1.7%-1.8%+6.6%
Q3 2020+4.6%+8.9%+20.8%
Q2 2020+2.2%+2.7%-0.3%
Q1 2020-5.3%-7.8%-2.9%
Q4 2019-7.0%-1.2%-33.1%
Q3 2019+1.4%-0.8%-1.6%
Q2 2019+2.2%-0.4%+1.6%
Q1 2019+6.3%+5.1%+5.9%
Q4 2018+1.4%-1.0%+2.5%
Q3 2018+1.1%-3.4%-2.3%
Q2 2018+4.0%+5.1%+9.0%
Q1 2018+6.0%+5.8%+11.9%
Q4 2017-3.1%-3.0%-10.4%
Q3 2017-0.2%-1.2%+1.0%
Q2 2017-0.3%-1.3%-0.4%
Q1 2017+2.5%+0.7%+6.7%
Q4 2016-1.9%-2.9%-5.9%
Q3 2016+1.8%+4.1%+14.0%
Q2 2016-2.2%+0.1%+6.8%
Q4 2015+3.6%
Q3 2015-5.3%
Q2 2015+1.3%
Q1 2015+3.1%
Q4 2014-1.6%
Q3 2014+0.7%
Q2 2014-4.4%
Q1 2014+0.8%
Q4 2013+2.9%
Q3 2013+5.4%
Q2 2013-0.5%
Q1 2013+4.0%
Q2 2012-0.4%
Q4 2011+12.6%
Q3 2010-4.7%
Q3 2011-4.7%
Q2 2011-23.5%
Q2 2010-23.5%
Q1 2011+1.7%
Q1 2010+12.0%

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