Golar LNG: 2Q Earnings Snapshot
HAMILTON, Bermuda (AP) _ Golar LNG Ltd. (GLNG) on Thursday reported a second-quarter loss of $112.7 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Hamilton, Bermuda-based company said it had a loss of $1.11. Losses, adjusted for non-recurring costs and asset impairment costs, came to 62 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 34 cents per share.
The operator of carriers for natural gas shipping posted revenue of $96.7 million in the period. Its adjusted revenue was $82.3 million, which also missed Street forecasts. Five analysts surveyed by Zacks expected $85.1 million.
Golar LNG shares have dropped 47% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.51, a fall of 57% in the last 12 months.