NYSE$LNG

Cheniere Energy Inc · Q2 2020 earnings

Q2 2020 earnings · · Investor relations

Briefing

Cheniere reported a net income for Q2 2020 and reconfirmed full-year 2020 guidance.

Cheniere Energy, Inc. reported a net income of $197 million for the second quarter of 2020, a significant increase compared to the net loss of $114 million in the same period of 2019. The company reconfirmed its full-year 2020 guidance of $3.8 to $4.1 billion in Consolidated Adjusted EBITDA and $1.0 to $1.3 billion in Distributable Cash Flow, demonstrating the resilience of its business model amid a challenging LNG market environment.

  • Net income increased primarily due to increased total margins and decreased net loss related to interest rate derivatives.
  • 78 LNG cargoes were exported from liquefaction projects.
  • Consolidated Adjusted EBITDA increased due to accelerated revenues recognized from LNG cargoes and increased margins per MMBtu of LNG delivered.
  • Full year 2020 guidance of $3.8 to $4.1 billion in Consolidated Adjusted EBITDA and $1.0 to $1.3 billion in Distributable Cash Flow was reconfirmed.

Headline financials

Total Revenue

$2.4B

Previous: $2.29B+4.8%
EPS (adj)

$0.78

Previous: -$0.44+277.3%
LNG Cargoes Exported

78

No prior period
Capital Expenditures

-$983M

Previous: -$1.51B+34.8%
Free Cash Flow

-$786M

Previous: -$1.62B+51.5%
Net Income

$197M

Previous: -$114M+272.8%
Operating Income

$937M

Previous: $432M+116.9%
Gross Profit

$2.05B

Previous: $1.02B+101.7%
Cash & Equivalents

$2.04B

Previous: $2.28B-10.5%
Total Assets

$35.8B

Previous: $34.6B+3.7%
Stock-Based Comp

$28M

Previous: $33M-15.2%

Revenue & EPS history

Cheniere · Revenue · Quarterly

$2.4B

Q2 2020+4.8%vs Q2 2019
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Cheniere · $2.36B total across 2 segments · Q2 2020

  • LNG Revenues
    $2.3B
  • Regasification Revenues
    $68M

Forward guidance

Cheniere reconfirmed its full year 2020 guidance of $3.8 to $4.1 billion in Consolidated Adjusted EBITDA and $1.0 to $1.3 billion in Distributable Cash Flow.

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 Q2 2020

Historical avgQ2 2020

+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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