February 29, 2024 [Storage Terminals Magazine]- Cheniere, a global leader in the liquefied natural gas industry, has released its financial results for the three and twelve months ending December 31, 2023, showcasing robust revenues and strategic initiatives.
For the stated periods, Cheniere achieved revenues of approximately $4.8 billion and $20.4 billion, respectively. Net income stood at approximately $1.4 billion and $9.9 billion, consolidated adjusted EBITDA at approximately $1.65 billion and $8.8 billion, and distributable cash flow at approximately $1.1 billion and $6.5 billion, respectively. Notably, the full-year 2023 consolidated adjusted EBITDA results exceeded the high end of the guidance range, while the distributable cash flow results exceeded the most recent guidance range.
Looking ahead, Cheniere has introduced guidance for the full year 2024, projecting consolidated adjusted EBITDA in the range of $5.5 billion to $6.0 billion and distributable cash flow between $2.9 billion and $3.4 billion, reflecting a positive outlook for the coming year.
Under its comprehensive capital allocation plan, Cheniere has demonstrated prudent financial management by prepaying substantial long-term indebtedness, repurchasing shares, and paying dividends. From January 1, 2024, through February 16, 2024, the company repurchased approximately 2.9 million shares for over $450 million, further enhancing shareholder value.
In addition, Cheniere transitioned its trading platforms from the NYSE American to the New York Stock Exchange, effective February 5, 2024, under the symbols “LNG” and “CQP” for Cheniere and Cheniere Energy Partners, L.P., respectively.
Furthermore, Cheniere announced significant agreements in November 2023, including a long-term gas supply deal with ARC Resources U.S. Corp. and an LNG sale and purchase agreement with Foran Energy Group Co. Ltd., underscoring its commitment to expanding market reach and driving growth.
Jack Fusco, president and CEO of Cheniere, expressed pride in the company’s performance and highlighted the team’s dedication to excellence. Fusco remains optimistic about Cheniere’s prospects for 2024, emphasising the company’s focus on execution across operations, construction, and project development, in line with market demands for reliable LNG.
Cheniere’s financial results reflect its strong position in the LNG industry and its commitment to delivering value to shareholders while driving forward the global transition to natural gas.
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