Golar LNG Limited (0HDY.L) Q3 2024 Earnings Report

Golar LNG Limited posted QQ3 2024 revenue of $64.8 million, up modestly QoQ but with a sizable net loss and negative EBITDA. The quarter highlights include a gross profit of $18.6 million and a gross margin of 28.7%, yet operating income declined to -$28.29 million and net income was -$34.78 million, driven by non-operating items and high non-cash charges. Despite the profitability backdrop, the company generated $62.6 million of operating cash flow, helped by working capital dynamics and significant non-cash items, and ended the period with a robust cash balance of $824.1 million. Free cash flow was negative at -$17.3 million as capex and other investing outflows outweighed operating cash generation. Total debt stood at $1.430 billion with net debt of $697.9 million, and liquidity remains solid with a cash cushion far exceeding near-term obligations.

The QQ3 2024 results underscore the earnings volatility typical of a capital-intensive LNG fleet operator, where cash generation can diverge from GAAP profitability due to depreciation, non-cash items, and financing activities. Management commentary in the period is not captured in the transcript provided, limiting the ability to quote explicit guidance or sentiment. Investors should focus on fleet utilization, charter rate trends, refinancing risk, and the ability to translate strong operating cash flow into sustained earnings momentum. Near-term catalysts include potential new charters, FLNG project activity, and the ability to optimize the balance sheet through debt management, while monitoring LNG demand cycles and vessel supply dynamics.