Golar LNG Limited reported a modestly growing top line in QQ4 2024 with a substantial EBITDA contribution that underscored ongoing operating efficiency in a steady-but-cyclic LNG shipping environment. Revenue of USD 65.9 million declined modestly versus the prior-year quarter (down 17.3% YoY) but rose slightly QoQ by 1.7%. Gross profit was USD 32.7 million (gross margin 49.6%), enabling EBITDA of USD 44.9 million and a positive operating income of USD 8.3 million. Net income reached USD 3.35 million, with diluted EPS of USD 0.032, signaling a positive quarterly bottom line despite a volatile quarter on a year-over-year basis.
Key cash flow dynamics reflect a capital-intensive phase: cash flow from operations was USD 163.4 million, while capital expenditures were heavy at USD 206.4 million, producing a negative free cash flow of USD 42.99 million for the quarter. The company ended QQ4 2024 with USD 716.6 million in cash and cash equivalents and an aggregate net debt of USD 892.6 million. Interest coverage remained healthy at roughly 10x, but overall leverage remains elevated given the debt base of USD 1.459 billion and sizable annual capex commitments. The quarterly results show a notable earnings swing versus Q3 2024, when the company reported a material year-to-date impairment/expense dynamic that contributed to a net loss; by Q4, earnings recovered to a positive print despite ongoing capital deployment.
From a strategic standpoint, Golar remains exposed to LNG market cycles and fleet utilization dynamics, with value creation contingent on stabilizing charter rates, optimizing utilization, and managing refinancing needs. The balance sheet demonstrates liquidity to support near-term needs, but investors should monitor debt maturity profiles and commodity/market risks that could influence future profitability and cash generation.