Cheniere Energy, Inc. (NYSE American: LNG):
Summary of Second Quarter 2019 Results (in millions, except
LNG data)
Three Months Ended June
30,
Six Months Ended June
30,
2019
2018
% Change
2019
2018
% Change
Revenues
$
2,292
$
1,543
49
%
$
4,553
$
3,785
20
%
Net income (loss)1
$
(114
)
$
(18
)
533
%
$
27
$
339
(92
)%
Consolidated Adjusted EBITDA2
$
615
$
531
16
%
$
1,265
$
1,438
(12
)%
LNG exported:
Number of cargoes
104
61
70
%
191
128
49
%
Volumes (TBtu)
361
219
65
%
671
463
45
%
LNG volumes loaded (TBtu)
360
222
62
%
669
463
44
%
Summary 2019 Full Year Guidance (in billions)
2019
Consolidated Adjusted EBITDA2
$
2.9
-
$
3.2
Distributable Cash Flow2
$
0.6
-
$
0.8
Recent Highlights
Strategic
- In May 2019, our wholly owned subsidiary Cheniere Corpus
Christi Liquefaction Stage III, LLC entered into an integrated
production marketing (“IPM”) transaction with Apache Corporation
(“Apache”) to purchase 140,000 MMBtu per day of natural gas, for a
term of approximately 15 years, at a price based on international
LNG indices, net of a fixed liquefaction fee and certain costs
incurred by Cheniere.
- In May 2019, the board of directors of the general partner of
Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE
American: CQP) made a positive final investment decision (“FID”)
with respect to Train 6 of the SPL Project (defined below) and
issued a full notice to proceed with construction to Bechtel Oil,
Gas and Chemicals, Inc. in June 2019.
Operational
- As of July 31, 2019, over 750 cumulative LNG cargoes have been
produced, loaded and exported from our liquefaction projects.
- In June 2019, first LNG production from Train 2 of the CCL
Project (defined below) occurred, and the first commissioning cargo
from Train 2 was exported.
Financial
- For the six months ended June 30, 2019, we reported a net
income1 of $27 million, Consolidated Adjusted EBITDA2 of $1.27
billion, and Distributable Cash Flow2 of approximately $320
million.
- In June 2019, we announced a capital allocation framework which
prioritizes investments in the growth of our liquefaction platform,
improvement of consolidated leverage metrics, and a return of
excess capital to shareholders under a 3-year, $1.0 billion share
repurchase program.
- In June 2019, the date of first commercial delivery was reached
under the 20-year LNG Sale and Purchase Agreements (“SPAs”) with
Endesa S.A. and PT Pertamina (Persero) relating to Train 1 of the
CCL Project.
- In June 2019, Cheniere Corpus Christi Holdings, LLC and its
subsidiaries, as guarantors, entered into a note purchase agreement
with Allianz Global Investors GmbH to issue an aggregate principal
amount of $727 million of 4.80% Senior Secured Notes due 2039 (the
“Notes”), with closing and funding of the Notes conditional in part
on the Notes receiving at least two investment grade ratings within
18 months of the date of the note purchase agreement.
- In May 2019, Cheniere Partners entered into 5-year, $1.5
billion credit facilities, which consist of a $750 million delayed
draw term loan and a $750 million revolving credit facility, to
fund a portion of the development and construction of Train 6, a
third LNG berth, and supporting infrastructure at the SPL
Project.
Liquefaction Projects Update
SPL Project
CCL Project
Liquefaction Train
Train 6
Train 2
Train 3
Project Status
Under Construction
Commissioning
Under Construction
Project Completion Percentage(1)
32.4%(2)
99.5%(3)
62.4%(4)
Expected Substantial Completion
1H 2023
3Q 2019
2H 2021
Note: Projects update excludes Trains in
operation
(1)
Project completion percentages as of June
30, 2019
(2)
Engineering 74.1% complete, procurement
48.2% complete, and construction 2.1% complete
(3)
Completion percentage for Stage 1,
includes Trains 1 and 2
(4)
Engineering 94.3% complete, procurement
92.5% complete, and construction 29.2% complete
Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) reported
a net loss1 of $114 million, or $0.44 per share (basic and
diluted), for the three months ended June 30, 2019, compared to a
net loss of $18 million, or $0.07 per share (basic and diluted),
for the comparable 2018 period. Cheniere reported a net income of
$27 million, or $0.11 per share (basic and diluted) for the six
months ended June 30, 2019, compared to net income1 of $339
million, or $1.42 per share - basic and $1.40 per share - diluted,
for the comparable 2018 period. Net loss increased during the three
months ended June 30, 2019 as compared to the three months ended
June 30, 2018 and net income decreased during the six months ended
June 30, 2019 as compared to the six months ended June 30, 2018
primarily due to increased total operating costs and expenses as a
result of additional Trains in operation between each of the
periods and certain maintenance and related activities at the SPL
Project, increased interest expense, increased net derivative loss,
and decreased margins per MMBtu of LNG recognized in income
primarily due to decreased pricing on LNG sold by our marketing
affiliate, partially offset by increased volumes of LNG recognized
in income and decreased net income attributable to non-controlling
interest.
Consolidated Adjusted EBITDA2 for the three months ended June
30, 2019 was $615 million, compared to $531 million for the
comparable 2018 period. The increase in Consolidated Adjusted
EBITDA was primarily due to increased income from operations.
Consolidated Adjusted EBITDA for the six months ended June 30,
2019 was $1.27 billion, compared to $1.44 billion for the
comparable 2018 period. The decrease in Consolidated Adjusted
EBITDA was primarily due to decreased income from operations and
decreased adjustments for certain non-cash items including net gain
from changes in fair value of commodity and foreign exchange (“FX”)
derivatives.
During the three months ended June 30, 2019, 104 LNG cargoes
were exported from our liquefaction projects, one of which was a
commissioning cargo. During the six months ended June 30, 2019, 191
LNG cargoes were exported from our liquefaction projects, of which
eight were commissioning cargoes. Twelve cargoes exported from our
liquefaction projects and sold on a delivered basis were in transit
as of June 30, 2019, one of which was a commissioning cargo.
“The second quarter was highlighted by continued execution on
our growth plans through a positive FID on Train 6 at Sabine Pass,
continued commercial innovation with the long-term IPM contract
with Apache, and continued financial discipline, reflected in the
capital allocation framework we announced during the quarter,” said
Jack Fusco, Cheniere’s President and Chief Executive Officer. “LNG
volumes in our portfolio, via early completion of Trains and
excellent operational performance at both Sabine Pass and Corpus
Christi, continue to help offset relative softness in short-term
LNG market pricing. Our outlook for the remainder of 2019 remains
strong, and we are reiterating our full year Consolidated Adjusted
EBITDA and Distributable Cash Flow guidance today.”
LNG Volume Summary
The following table summarizes the volumes of operational and
commissioning LNG that were loaded from our liquefaction projects
and for which the financial impact was recognized on our
Consolidated Financial Statements during the three and six months
ended June 30, 2019:
Three Months Ended June 30,
2019
Six Months Ended June 30,
2019
(in TBtu)
Operational
Commissioning
Operational
Commissioning
Volumes loaded during the current
period
361
3
645
28
Volumes loaded during the prior period but
recognized during the current period
27
—
25
3
Less: volumes loaded during the current
period and in transit at the end of the period
(36
)
(3
)
(36
)
(3
)
Total volumes recognized in the current
period
352
—
634
28
In addition, during the three and six months ended June 30,
2019, we recognized the financial impact of 5 TBtu of LNG and 23
TBtu of LNG, respectively, on our Consolidated Financial Statements
related to LNG cargoes sourced from third parties.
Summary of Financial
Performance
Second Quarter and Full Year 2019 Results
Our financial results are reported on a consolidated basis. Our
ownership interest in Cheniere Energy Partners, L.P. (“Cheniere
Partners”) (NYSE American: CQP) as of June 30, 2019 consisted of
100% ownership of the general partner and a 48.6% limited partner
interest.
Income from operations increased $96 million during the three
months ended June 30, 2019 as compared to the comparable 2018
period. The increase in income from operations was primarily driven
by an increase in LNG volumes recognized in income due primarily to
additional Trains in operation and increased net gain from changes
in fair value of commodity and FX derivatives, partially offset by
decreased pricing of LNG sales recognized in income and increased
total operating costs and expenses as a result of additional Trains
in operation and certain maintenance and related activities at the
SPL Project.
Income from operations decreased $45 million during the six
months ended June 30, 2019 as compared to the comparable 2018
period. The decrease in income from operations was primarily driven
by increased total operating costs and expenses as a result of
additional Trains in operation and certain maintenance and related
activities at the SPL Project and decreased pricing of LNG sales
recognized in income, partially offset by an increase in LNG
volumes recognized in income primarily due to additional Trains in
operation and increased net gain from changes in fair value of
commodity and FX derivatives.
Selling, general and administrative expense included share-based
compensation expenses of $23 million and $43 million, respectively,
for the three and six months ended June 30, 2019, compared to $20
million and $38 million for the comparable 2018 periods.
Net income attributable to non-controlling interest decreased
$52 million and $99 million during the three and six months ended
June 30, 2019 as compared to the comparable 2018 periods, primarily
due to the decrease of non-controlling interest as a result of our
merger with Cheniere Energy Partners LP Holdings, LLC in September
2018. During the three months ended June 30, 2019, net income
attributable to non-controlling interest also decreased as compared
to the three months ended June 30, 2018 due to the decrease in
consolidated net income recognized by Cheniere Partners, in which
the non-controlling interests are held.
Capital Resources
As of June 30, 2019, we had cash and cash equivalents of $2.3
billion on a consolidated basis, of which $1.0 billion was held by
Cheniere Partners. In addition, we had current restricted cash of
$1.2 billion designated for the following purposes: $596 million
for the SPL Project, $279 million for the CCL Project and $286
million for other restricted purposes.
Liquefaction Projects
SPL Project and CCL Project
Through Cheniere Partners, we are developing six natural gas
liquefaction Trains at the Sabine Pass LNG terminal adjacent to the
existing regasification facilities (the “SPL Project”). Trains 1
through 5 are operational and Train 6 is under construction.
We are developing three Trains near Corpus Christi, Texas (the
“CCL Project”). Train 1 is operational, Train 2 is undergoing
commissioning, and Train 3 is under construction.
Our Trains are expected to have a nominal production capacity,
which is prior to adjusting for planned maintenance, production
reliability, potential overdesign, and debottlenecking
opportunities, of approximately 4.5 mtpa of LNG per Train, and
average run rate adjusted nominal production capacity of
approximately 4.7 to 5.0 mtpa of LNG per Train.
Corpus Christi Stage 3
We are developing up to seven midscale liquefaction Trains
adjacent to the CCL Project (“Corpus Christi Stage 3”), each with
an expected nominal production capacity, which is prior to
adjusting for planned maintenance, production reliability,
potential overdesign, and debottlenecking opportunities, of
approximately 1.4 mtpa of LNG. The total expected nominal
production capacity of the seven midscale Trains is approximately
9.5 mtpa of LNG. In June 2018, we filed an application with FERC to
site, construct, and operate Corpus Christi Stage 3, and we are in
the process of obtaining all necessary regulatory approvals for
Corpus Christi Stage 3.
Investor Conference Call and
Webcast
We will host a conference call to discuss our financial and
operating results for the second quarter on Thursday, August 8,
2019, at 11 a.m. Eastern time / 10 a.m. Central time. A listen-only
webcast of the call and an accompanying slide presentation may be
accessed through our website at www.cheniere.com. Following the
call, an archived recording will be made available on our
website.
___________________________
1
Net income (loss) as used herein refers to
Net income (loss) attributable to common stockholders on our
Consolidated Statements of Operations.
2
Non-GAAP financial measure. See
“Reconciliation of Non-GAAP Measures” for further details.
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of
liquefied natural gas (LNG) in the United States, reliably
providing a clean, secure, and affordable solution to the growing
global need for natural gas. Cheniere is a full-service LNG
provider, with capabilities that include gas procurement and
transportation, liquefaction, vessel chartering, and LNG delivery.
Cheniere has one of the largest liquefaction platforms in the
world, consisting of the Sabine Pass and Corpus Christi
liquefaction facilities on the U.S. Gulf Coast, with expected
adjusted aggregate nominal production capacity of up to 45 million
tonnes per annum of LNG operating or under construction. Cheniere
is also pursuing liquefaction expansion opportunities and other
projects along the LNG value chain. Cheniere is headquartered in
Houston, Texas, and has additional offices in London, Singapore,
Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website
at www.cheniere.com and Quarterly Report on Form 10-Q for the
quarter ended June 30, 2019, filed with the Securities and Exchange
Commission.
Forward-Looking Statements
This press release contains certain statements that may include
“forward-looking statements” within the meanings of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical or present facts or conditions, included herein are
“forward-looking statements.” Included among “forward-looking
statements” are, among other things, (i) statements regarding
Cheniere’s financial and operational guidance, business strategy,
plans and objectives, including the development, construction and
operation of liquefaction facilities, (ii) statements regarding
expectations regarding regulatory authorizations and approvals,
(iii) statements expressing beliefs and expectations regarding the
development of Cheniere’s LNG terminal and pipeline businesses,
including liquefaction facilities, (iv) statements regarding the
business operations and prospects of third parties, (v) statements
regarding potential financing arrangements, (vi) statements
regarding future discussions and entry into contracts, and (vii)
statements relating to the amount and timing of share repurchases.
Although Cheniere believes that the expectations reflected in these
forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. Cheniere’s actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in Cheniere’s periodic reports that are filed with and
available from the Securities and Exchange Commission. You should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Other than as
required under the securities laws, Cheniere does not assume a duty
to update these forward-looking statements.
(Financial Tables Follow)
Cheniere Energy, Inc.
Consolidated Statements of Operations (in millions, except per
share data)(1) (unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2019
2018
2019
2018
Revenues
LNG revenues
$
2,173
$
1,442
$
4,316
$
3,608
Regasification revenues
67
65
133
130
Other revenues
52
36
104
47
Total revenues
2,292
1,543
4,553
3,785
Operating costs and expenses
Cost of sales (excluding depreciation and
amortization expense shown separately below)
1,277
873
2,491
2,051
Operating and maintenance expense
295
147
516
287
Development expense
3
3
4
4
Selling, general and administrative
expense
77
73
150
140
Depreciation and amortization expense
204
111
348
220
Impairment expense and loss on disposal of
assets
4
—
6
—
Total operating costs and expenses
1,860
1,207
3,515
2,702
Income from operations
432
336
1,038
1,083
Other income (expense)
Interest expense, net of capitalized
interest
(372
)
(216
)
(619
)
(432
)
Loss on modification or extinguishment of
debt
—
(15
)
—
(15
)
Derivative gain (loss), net
(74
)
32
(109
)
109
Other income
16
10
32
17
Total other expense
(430
)
(189
)
(696
)
(321
)
Income before income taxes and
non-controlling interest
2
147
342
762
Income tax benefit (provision)
—
3
(3
)
(12
)
Net income
2
150
339
750
Less: net income attributable to
non-controlling interest
116
168
312
411
Net income (loss) attributable to common
stockholders
$
(114
)
$
(18
)
$
27
$
339
Net income (loss) per share attributable
to common stockholders—basic
$
(0.44
)
$
(0.07
)
$
0.11
$
1.42
Net income (loss) per share attributable
to common stockholders—diluted
(0.44
)
(0.07
)
$
0.11
$
1.40
Weighted average number of common shares
outstanding—basic
257.4
242.8
257.3
239.2
Weighted average number of common shares
outstanding—diluted
257.4
242.8
258.6
241.7
_______________________
(1)
Please refer to the Cheniere Energy, Inc.
Quarterly Report on Form 10-Q for the quarter ended June 30, 2019,
filed with the Securities and Exchange Commission.
(2)
Earnings per share in the table may not
recalculate exactly due to rounding because it is calculated based
on whole numbers, not the rounded numbers presented.
Cheniere Energy, Inc.
Consolidated Balance Sheets (in millions, except share
data)(1)
June 30,
December 31,
2019
2018
ASSETS
(unaudited)
Current assets
Cash and cash equivalents
$
2,279
$
981
Restricted cash
1,161
2,175
Accounts and other receivables
433
585
Inventory
290
316
Derivative assets
127
63
Other current assets
135
114
Total current assets
4,425
4,234
Property, plant and equipment, net
29,073
27,245
Operating lease assets, net
502
—
Debt issuance costs, net
55
72
Non-current derivative assets
103
54
Goodwill
77
77
Other non-current assets, net
337
305
Total assets
$
34,572
$
31,987
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities
Accounts payable
$
120
$
58
Accrued liabilities
1,572
1,169
Current debt
—
239
Deferred revenue
136
139
Current operating lease liabilities
292
—
Derivative liabilities
84
128
Other current liabilities
3
9
Total current liabilities
2,207
1,742
Long-term debt, net
29,944
28,179
Non-current operating lease
liabilities
202
—
Non-current finance lease liabilities
58
57
Non-current derivative liabilities
94
22
Other non-current liabilities
44
58
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.0001 par value, 5.0
million shares authorized, none issued
—
—
Common stock, $0.003 par value
Authorized: 480.0 million shares at June
30, 2019 and December 31, 2018
Issued: 270.5 million shares at June 30,
2019 and 269.8 million shares at December 31, 2018
Outstanding: 257.5 million shares at June
30, 2019 and 257.0 million shares at December 31, 2018
1
1
Treasury stock: 13.0 million shares and
12.8 million shares at June 30, 2019 and December 31, 2018,
respectively, at cost
(423
)
(406
)
Additional paid-in-capital
4,097
4,035
Accumulated deficit
(4,129
)
(4,156
)
Total stockholders’ deficit
(454
)
(526
)
Non-controlling interest
2,477
2,455
Total equity
2,023
1,929
Total liabilities and equity
$
34,572
$
31,987
_______________________
(1)
Please refer to the Cheniere Energy, Inc.
Quarterly Report on Form 10-Q for the quarter ended June 30, 2019,
filed with the Securities and Exchange Commission.
Reconciliation of Non-GAAP Measures
Regulation G Reconciliations
In addition to disclosing financial results in accordance with
U.S. GAAP, the accompanying news release contains non-GAAP
financial measures. Consolidated Adjusted EBITDA and Distributable
Cash Flow are non-GAAP financial measures that we use to facilitate
comparisons of operating performance across periods. These non-GAAP
measures should be viewed as a supplement to and not a substitute
for our U.S. GAAP measures of performance and the financial results
calculated in accordance with U.S. GAAP and reconciliations from
these results should be carefully evaluated.
Consolidated Adjusted EBITDA represents net income (loss)
attributable to Cheniere before net income attributable to
non-controlling interest, interest, taxes, depreciation and
amortization, adjusted for certain non-cash items, other
non-operating income or expense items, and other items not
otherwise predictive or indicative of ongoing operating
performance, as detailed in the following reconciliation.
Consolidated Adjusted EBITDA is not intended to represent cash
flows from operations or net income (loss) as defined by U.S. GAAP
and is not necessarily comparable to similarly titled measures
reported by other companies.
We believe Consolidated Adjusted EBITDA provides relevant and
useful information to management, investors and other users of our
financial information in evaluating the effectiveness of our
operating performance in a manner that is consistent with
management’s evaluation of business performance. We believe
Consolidated Adjusted EBITDA is widely used by investors to measure
a company’s operating performance without regard to items such as
interest expense, taxes, depreciation and amortization which vary
substantially from company to company depending on capital
structure, the method by which assets were acquired and
depreciation policies. Further, the exclusion of certain non-cash
items, other non-operating income or expense items, and items not
otherwise predictive or indicative of ongoing operating performance
enables comparability to prior period performance and trend
analysis.
Consolidated Adjusted EBITDA is calculated by taking net income
(loss) attributable to common stockholders before net income
attributable to non-controlling interest, interest expense, net of
capitalized interest, changes in the fair value and settlement of
our interest rate derivatives, taxes, depreciation and
amortization, and adjusting for the effects of certain non-cash
items, other non-operating income or expense items, and other items
not otherwise predictive or indicative of ongoing operating
performance, including the effects of modification or
extinguishment of debt, impairment expense and loss on disposal of
assets, changes in the fair value of our commodity and FX
derivatives and non-cash compensation expense. We believe the
exclusion of these items enables investors and other users of our
financial information to assess our sequential and year-over-year
performance and operating trends on a more comparable basis and is
consistent with management’s own evaluation of performance.
Distributable Cash Flow is defined as cash received, or expected
to be received, from Cheniere’s ownership and interests in CQP,
cash received (used) by Cheniere’s integrated marketing function
(other than cash for capital expenditures) less interest, taxes and
maintenance capital expenditures associated with Cheniere and not
the underlying entities. Management uses this measure and believes
it provides users of our financial statements a useful measure
reflective of our business’s ability to generate cash earnings to
supplement the comparable GAAP measure.
We believe Distributable Cash Flow is a useful performance
measure for management, investors and other users of our financial
information to evaluate our performance and to measure and estimate
the ability of our assets to generate cash earnings after servicing
our debt, paying cash taxes and expending sustaining capital, that
could be used for discretionary purposes such as common stock
dividends, stock repurchases, retirement of debt, or expansion
capital expenditures. Management uses this measure and believes it
provides users of our financial statements a useful measure
reflective of our business’s ability to generate cash earnings to
supplement the comparable GAAP measure. Distributable Cash Flow is
not intended to represent cash flows from operations or net income
(loss) as defined by U.S. GAAP and is not necessarily comparable to
similarly titled measures reported by other companies.
Non-GAAP measures have limitations as an analytical tool and
should not be considered in isolation or in lieu of an analysis of
our results as reported under GAAP and should be evaluated only on
a supplementary basis.
Consolidated Adjusted EBITDA
The following table reconciles our Consolidated Adjusted EBITDA
to U.S. GAAP results for the three and six months ended June 30,
2019 and 2018 (in millions):
Three Months Ended
Six Months Ended
June 30,
June 30,
2019
2018
2019
2018
Net income (loss) attributable to common
stockholders
$
(114
)
$
(18
)
$
27
$
339
Net income attributable to non-controlling
interest
116
168
312
411
Income tax provision (benefit)
—
(3
)
3
12
Interest expense, net of capitalized
interest
372
216
619
432
Derivative loss (gain), net
74
(32
)
109
(109
)
Other income
(16
)
(10
)
(32
)
(17
)
Income from operations
$
432
$
336
$
1,038
$
1,083
Adjustments to reconcile income from
operations to Consolidated Adjusted EBITDA:
Depreciation and amortization expense
204
111
348
220
Loss (gain) from changes in fair value of
commodity and FX derivatives, net
(56
)
65
(183
)
102
Total non-cash compensation expense
31
19
56
33
Impairment expense and loss on disposal of
assets
4
—
6
—
Consolidated Adjusted EBITDA
$
615
$
531
$
1,265
$
1,438
Consolidated Adjusted EBITDA and Distributable Cash
Flow
The following table reconciles our actual Consolidated Adjusted
EBITDA and Distributable Cash Flow to Net income attributable to
common stockholders for the three and six months ended June 30,
2019 and forecast amounts for full year 2019 (in billions):
Three Months
Six Months
Ended
Ended
Full Year
June 30, 2019
June 30, 2019
2019
Net income attributable to common
stockholders
$
(0.11
)
$
0.03
$
0.0
-
$
0.2
Net income attributable to non-controlling
interest
0.12
0.31
0.5
-
0.6
Income tax provision
0.00
0.00
0.0
Interest expense, net of capitalized
interest
0.37
0.62
1.5
Depreciation and amortization expense
0.20
0.35
0.8
Other expense, financing costs, and
certain non-cash operating expenses
0.04
(0.04
)
0.1
Consolidated Adjusted EBITDA
$
0.62
$
1.27
$
2.9
-
$
3.2
Distributions to CQP non-controlling
interest
(0.15
)
(0.30
)
(0.6
)
SPL and CQP cash retained and interest
expense
(0.28
)
(0.59
)
(1.5
)
Cheniere interest expense, income tax and
other
(0.07
)
(0.06
)
(0.3
)
Cheniere Distributable Cash
Flow
$
0.12
$
0.32
$
0.6
-
$
0.8
_______________________
Note: Totals may not sum due to
rounding.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190808005178/en/
Cheniere Energy, Inc.
Investors Randy Bhatia, 713-375-5479 Megan Light, 713-375-5492
or Media Relations Eben Burnham-Snyder, 713-375-5764 Jenna Palfrey,
713-375-5491
Cheniere Energy (AMEX:LNG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Cheniere Energy (AMEX:LNG)
Historical Stock Chart
From Sep 2023 to Sep 2024