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Golar Lng Ltd Up 6.75% To $25.95 After Earnings

Thursday, August 11, 2022 02:58 PM | InvestorsObserver Analysts

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Golar Lng Ltd Up 6.75% To $25.95 After Earnings

Golar Lng Ltd (GLNG) said before open Thursday that it broke even in quarter two 2022.

In the same quarter a year ago, the company lost $0.61 per share on revenue of $104.3 million.

The stock is up 6.75% to $25.95 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Golar Lng Ltd a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 56. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Golar LNG Ltd is a midstream LNG company operates in the transportation, regasification, liquefaction, and trading of LNG. The segment in which the group operates includes Shipping, FLNG (Floating Liquefaction Natural Gas vessels), Power, and Corporate and other. It generates maximum revenue from the FLNG segment.

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