NYSE$LNG

Cheniere Energy Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Cheniere reported first quarter 2022 results, highlighted by strong financial performance and increased LNG production.

Cheniere Energy, Inc. announced its financial results for the first quarter 2022, featuring a consolidated Adjusted EBITDA of approximately $3.2 billion and Distributable Cash Flow of approximately $2.5 billion. The company is raising its full year 2022 Consolidated Adjusted EBITDA guidance to $8.2 - $8.7 billion and full year 2022 Distributable Cash Flow guidance to $5.5 - $6.0 billion. However, the company reported a net loss of approximately $865 million for the quarter.

  • Consolidated Adjusted EBITDA of approximately $3.2 billion and Distributable Cash Flow of approximately $2.5 billion for the quarter.
  • Raising full year 2022 Consolidated Adjusted EBITDA guidance to $8.2 - $8.7 billion and full year 2022 Distributable Cash Flow guidance to $5.5 - $6.0 billion.
  • Redeemed or repaid over $0.8 billion of consolidated long-term indebtedness, repurchased 0.24 million shares for approximately $25 million, and paid a quarterly dividend of $0.33 per share.
  • Expect to complete the remaining steps necessary to reach FID on Corpus Christi Stage 3 in the coming months.

Headline financials

Total Revenue

$7.48B

Previous: $3.09B+142.2%
EPS (adj)

-$3.41

Previous: $1.54-321.4%
LNG Cargoes Exported

160

Previous: 133+20.3%
Capital Expenditures

-$178M

Previous: -$190M+6.3%
Free Cash Flow

-$1.04B

Previous: $203M-613.8%
Net Income

-$865M

Previous: $393M-320.1%
Operating Income

-$613M

Previous: $1.06B-157.6%
Gross Profit

$7.1B

Previous: $2.77B+156.3%
Cash & Equivalents

$2.49B

Previous: $1.67B+49.2%
Total Assets

$40.1B

Previous: $36.4B+10.1%
Stock-Based Comp

$43M

Previous: $32M+34.4%

Revenue & EPS history

Cheniere · Revenue · Quarterly

$7.48B

Q1 2022+142.2%vs Q1 2021
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Cheniere · $7.41B total across 2 segments · Q1 2022

  • LNG Revenues
    $7.34B+144.7%
  • Regasification Revenues
    $68M+1.5%

Forward guidance

Cheniere is raising its 2022 financial guidance due to the sustained strength in the global LNG market and an increase in expected LNG production.

Tailwinds

  • Increased volumes from maintenance optimization
  • Accelerated ramp-up of Train 6 of the SPL Project
  • General outperformance
  • Sustained higher margins on LNG throughout 2022
  • Increased lifting margin

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 2022

Historical avgQ1 2022

+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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