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Dec 31, 2024
Cheniere Q4 2024 Earnings Report
Cheniere Partners reported a decline in revenue and net income for Q4 2024 compared to the prior year, primarily due to lower LNG gross margins and unfavorable derivative valuations.
Key Takeaways
Cheniere Partners' Q4 2024 revenue decreased by 8% year-over-year to $2.46 billion, while net income dropped by 31% to $623 million. The company exported 110 LNG cargoes with total volumes of 399 TBtu. Operating income reached $812 million, with a reported adjusted EBITDA of $890 million. The company also declared a cash distribution of $0.820 per common unit.
Revenue declined 8% year-over-year to $2.46 billion.
Net income fell 31% to $623 million due to unfavorable derivative valuations.
Exported LNG volumes declined 5% to 399 TBtu.
Declared a cash distribution of $0.820 per common unit.
Revenue by Segment
Forward Guidance
Cheniere Partners introduced a full-year 2025 distribution guidance of $3.25 - $3.35 per common unit, maintaining a base distribution of $3.10 per unit. The company expects stable cash flows despite market volatility.
Positive Outlook
- Maintaining a stable base distribution of $3.10 per common unit.
- Continuing development of SPL Expansion Project for future growth.
- Strong liquidity position with $2.2 billion available.
- Favorable regulatory approvals for LNG exports to FTA countries.
- Steady LNG production capacity at 30 mtpa.
Challenges Ahead
- Declining LNG margins due to market conditions.
- Unfavorable derivative valuations impacting earnings.
- Decrease in LNG cargo volumes year-over-year.
- Higher operating expenses compared to prior periods.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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