** charts before earnings **
** charts after earnings **
Cheniere Energy beats by $0.23, misses on revs :
- Reports Q4 (Dec) loss of $0.34 per share, excluding non-recurring items, $0.23 better than the Capital IQ Consensus of ($0.57); revenues rose 735.7% year/year to $571.6 mln vs the $664.97 mln Capital IQ Consensus
- The co said, "The fourth quarter of 2016 was another milestone quarter for Cheniere, as today we report financial results driven by nearly a full quarter of LNG production from the first two Trains at Sabine Pass. Transition and execution will remain central themes for Cheniere in 2017, as we expect Trains 3 and 4 at Sabine Pass to begin commercial operations, with Train 3 having produced its first commissioning cargo in January."
- Through Cheniere Partners, the co is developing up to six Trains at the Sabine Pass LNG terminal adjacent to the existing regasification facilities (the "Sabine Pass Liquefaction Project"). Each train is expected to have a nominal production capacity, which is prior to adjusting for planned maintenance, production reliability, and potential overdesign, of ~4.5 million tonnes per annum ("mtpa") of LNG
- For the three and twelve months ended Dec 31, 2016, Net Loss, As Adjusted excludes the impact of changes in the fair value of our interest rate, commodity and foreign currency exchange derivatives, loss on early extinguishment of debt, restructuring expense, amortization of the beneficial conversion feature related to certain Class B units of Cheniere Energy Partners, L.P. (CQP) and impairment expense. Loss on early extinguishment of debt was associated with the write-off of debt issuance costs by Sabine Pass Liquefaction, LLC and Cheniere Corpus Christi Holdings, LLC in connection with the refinancing of a portion of their credit facilities, by Sabine Pass LNG, L.P. as a result of the redemption of its senior notes, and by Cheniere Creole Trail Pipeline, L.P. as a result of the prepayment of its outstanding term loan
- Co's financial results are reported on a consolidated basis. Its ownership interest in Cheniere Partners as of December 31, 2016 consisted of 100% ownership of the general partner of Cheniere Partners and 82.6% ownership interest in Cheniere Partners Holdings which owns a 55.9% limited partner interest in Cheniere Partners.
