NYSE$LNG

Cheniere Energy Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Cheniere's financial results for the third quarter of 2021 were announced, with increased EBITDA guidance for 2021 and initial guidance for 2022.

Cheniere Energy, Inc. reported strong third quarter results driven by operational excellence and strength in the global LNG market. The company is raising its full year 2021 Consolidated Adjusted EBITDA guidance and introducing full year 2022 Consolidated Adjusted EBITDA and Distributable Cash Flow guidance.

  • Consolidated Adjusted EBITDA of approximately $1.1 billion for the three months ended September 30, 2021.
  • Distributable Cash Flow of approximately $390 million for the three months ended September 30, 2021.
  • Raising full year 2021 Consolidated Adjusted EBITDA guidance to $4.6 - $5.0 billion and reconfirming full year 2021 Distributable Cash Flow guidance of $1.8 - $2.1 billion.
  • Introducing full year 2022 Consolidated Adjusted EBITDA guidance of $5.8 - $6.3 billion and full year 2022 Distributable Cash Flow guidance of $3.1 - $3.6 billion.

Headline financials

Total Revenue

$3.2B

Previous: $1.46B+119.2%
EPS (adj)

-$4.27

Previous: -$1.84-132.1%
LNG Cargoes Exported

141

Previous: 55+156.4%
Capital Expenditures

-$761M

Previous: -$1.44B+47.0%
Free Cash Flow

-$1.85B

Previous: -$1.9B+2.9%
Net Income

-$1.08B

Previous: -$463M-134.1%
Operating Income

-$2.35B

Previous: $72M-3363.9%
Gross Profit

$2.85B

Previous: $1.14B+149.3%
Cash & Equivalents

$2.2B

Previous: $2.09B+5.4%
Total Assets

$40.2B

Previous: $35.9B+11.8%
Stock-Based Comp

$28M

Previous: $27M+3.7%

Revenue & EPS history

Cheniere · Revenue · Quarterly

$3.2B

Q3 2021+119.2%vs Q3 2020
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Cheniere · $3.15B total across 2 segments · Q3 2021

  • LNG Revenues
    $3.08B+124.2%
  • Regasification Revenues
    $68M+1.5%

Forward guidance

Cheniere is raising its full year 2021 Consolidated Adjusted EBITDA guidance to $4.6 - $5.0 billion and reconfirming full year 2021 Distributable Cash Flow guidance of $1.8 - $2.1 billion. The company is also introducing full year 2022 Consolidated Adjusted EBITDA guidance of $5.8 - $6.3 billion and full year 2022 Distributable Cash Flow guidance of $3.1 - $3.6 billion.

Tailwinds

  • Train 6 commencing in the first quarter.
  • Sustained higher margins available in the market.
  • Execution of two new long-term SPAs with ENN and Glencore.
  • Global demand for securing flexible, reliable LNG supply for the long term.
  • Confidence in a Stage 3 FID in 2022.

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 Q3 2021

Historical avgQ3 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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