earnings
confidence high
sentiment negative
materiality 0.75
Cheniere Energy Partners Q3 net loss of $514M on $2.2B non-cash derivative losses; revenue up 114%
Cheniere Energy Partners, L.P.
- Adjusted EBITDA of $1.5B, up 99% YoY, driven by higher LNG margins and volumes.
- Net loss of $514M vs net income of $381M in Q3 2021; non-cash fair value losses on Tourmaline IPM agreement totaled $1.3B in Q3.
- Revenue surged to $4.98B from $2.32B a year ago, on 19% higher LNG cargo volumes (103 cargoes).
- Declared Q3 distribution of $1.070/unit (base $0.775 + variable $0.295); full-year 2022 distribution guidance reaffirmed at $4.00-$4.25/unit.
- Sabine Pass LNG loaded 363 TBtu in Q3; Moody's and Fitch upgraded issuer credit ratings in September.