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Sep 30, 2020
Cheniere Q3 2020 Earnings Report
Reported a net loss and decreased revenues due to accelerated recognition of revenues in prior periods related to elections by long-term SPA customers.
Key Takeaways
Cheniere Energy reported a net loss of $463 million for the third quarter of 2020, compared to a net loss of $318 million for the comparable 2019 period. Consolidated Adjusted EBITDA was $477 million, compared to $694 million for the comparable 2019 period.
Net loss increased primarily due to decreased total margins and increased loss on modification or extinguishment of debt.
Total margins decreased primarily due to the accelerated recognition of revenues in prior periods related to elections by long-term SPA customers.
Consolidated Adjusted EBITDA decreased primarily due to the accelerated recognition of revenues in prior periods related to elections by long-term SPA customers.
Reconfirmed full year 2020 financial guidance and provided robust financial guidance for full year 2021.
Revenue by Segment
Forward Guidance
Cheniere reconfirmed its full year 2020 financial guidance and provided robust financial guidance for full year 2021. They also raised their run rate Consolidated Adjusted EBITDA and Distributable Cash Flow guidance.
Positive Outlook
- Consolidated Adjusted EBITDA 2020: $3.8 - $4.1 billion
- Distributable Cash Flow 2020: $1.0 - $1.3 billion
- Consolidated Adjusted EBITDA 2021: $3.9 - $4.2 billion
- Distributable Cash Flow 2021: $1.2 - $1.5 billion
- Revised Run Rate Consolidated Adjusted EBITDA: $5.3 - $5.7 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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