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Cheniere Energy's Mixed Q2 Results: Earnings Decline Amid Lower Gas Prices

Cheniere Energy, Inc. (NYSE:LNG) reported second-quarter FY24 revenue of $3.251 billion, down 21% Y/Y, missing the consensus of $3.518 billion.  Adjusted EBITDA declined 29% Y/Y to $1.32 billion, mainly due to lower international gas prices and a higher proportion of LNG sold under long-term contracts, which reduced margins per MMBtu of LNG delivered. The company exported 553 TBtu of LNG during the quarter. As of June-end, 30 TBtu of LNG was in transit and sold on a delivered basis, unrelated to commissioning activities. As of August 2, the company has produced, loaded, and exported approximately 3,570 LNG cargoes, totaling over 245 million tonnes from our liquefaction projects. EPS of $3.84 exceeded the consensus of $1.69 in the quarter. Distributable Cash Flow stood at approximately $0.7 billion in the quarter. Cheniere repurchased over 3.1 million shares for about $496 million, repaid $150 million in debt, and paid quarterly dividends of ...