earnings
confidence high
sentiment neutral
materiality 0.65
Cheniere Energy Partners Q3 net income $791M; reaffirms 2023 distribution guidance $4.00-$4.25/unit
Cheniere Energy Partners, L.P.
- Q3 revenues $2.1B (down 57% YoY); net income $791M vs $(514)M loss in Q3 2022 on favorable non-cash fair value changes.
- Adjusted EBITDA $793M (down 46% YoY) due to lower regasification revenues and lower LNG margins.
- Declared Q3 distribution $1.03/unit ($0.775 base + $0.255 variable); payable Nov 14 to holders of record Nov 6.
- Redeemed $1.4B of 5.75% 2024 notes using proceeds from new 5.95% 2033 notes; $50M additional redeemed with cash.
- LNG exported 100 cargoes (359 TBtu) in Q3; SPL Expansion Project in pre-filing review with FERC.