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Golar LNG (GLNG) Shares Gain 1.5% Post Q1 Earnings Beat
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Golar LNG Limited (GLNG - Free Report) shares gained 1.5% since its first-quarter 2024 earnings release on May 28. The uptick can be attributed to the better-than-expected first-quarter 2024 earnings performance.
Quarterly earnings of 45 cents per share surpassed the Zacks Consensus Estimate by a penny but declined year over year. Revenues of $63.2 million lagged the Zacks Consensus Estimate of $72.3 million and declined year over year.
Adjusted EBITDA of $63.58 million declined 24% year over year.
Golar LNG Limited Price, Consensus and EPS Surprise
GLNG exited the first quarter of 2024 with cash and cash equivalents of $548 million compared with $679.22 million at the prior-quarter end. GLNG’s share of contractual debt at the first-quarter end increased 5% to $1.21 billion.
GLNG repurchased 0.7 million shares at an average price of $20.87 per share during first-quarter 2024. As of Mar 31, 2024, 104 million shares were issued and outstanding. Of the $150 million approved share buyback scheme, $74.1 million remains available.
Delta Air Lines (DAL - Free Report) reported first-quarter 2024 earnings (excluding 39 cents from non-recurring items) of 45 cents per share, which comfortably beat the Zacks Consensus Estimate of 36 cents. Earnings increased 80% on a year-over-year basis.
Revenues of $13.75 billion surpassed the Zacks Consensus Estimate of $12.84 billion and increased 7.75% on a year-over-year basis, driven by strong air-travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $12.56 billion, up 6% year over year.
United Airlines Holdings, Inc.(UAL - Free Report) reported first-quarter 2024 loss per share (excluding 23 cents from non-recurring items) of 15 cents, which was narrower than the Zacks Consensus Estimate’s loss of 53 cents. In the year-ago reported quarter, UAL reported a loss of 63 cents per share.
Operating revenues of $12,539 million beat the Zacks Consensus Estimate of $12,428.4 million. The top line increased 9.7% year over year due to upbeat air-travel demand. This was driven by a 10.1% rise in passenger revenues (accounting for 90.2% of the top line) to $11,313 million. Almost 39,325 passengers traveled on UAL flights in the first quarter, up 6.8% year over year.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) first-quarter 2024 earnings of $1.22 per share missed the Zacks Consensus Estimate of $1.53 and declined 35.5% year over year.
JBHT’s total operating revenues of $2,944 million missed the Zacks Consensus Estimate of $3,117.1 million and fell 8.8% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 7% year over year. The downfall was owing to a 9% decrease in segment gross revenue per load in both Intermodal (JBI) and Truckload (JBT), 22% fewer loads in Integrated Capacity Solution (ICS), and a modest decline in average trucks and productivity in Dedicated Contract Services (DCS). Revenue declines in JBI, ICS, JBT and DCS were partially offset by Final Mile Services (FMS) revenue growth of 2%, primarily driven by new contracts implemented over the past year.
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Golar LNG (GLNG) Shares Gain 1.5% Post Q1 Earnings Beat
Golar LNG Limited (GLNG - Free Report) shares gained 1.5% since its first-quarter 2024 earnings release on May 28. The uptick can be attributed to the better-than-expected first-quarter 2024 earnings performance.
Quarterly earnings of 45 cents per share surpassed the Zacks Consensus Estimate by a penny but declined year over year. Revenues of $63.2 million lagged the Zacks Consensus Estimate of $72.3 million and declined year over year.
Adjusted EBITDA of $63.58 million declined 24% year over year.
Golar LNG Limited Price, Consensus and EPS Surprise
Golar LNG Limited price-consensus-eps-surprise-chart | Golar LNG Limited Quote
GLNG exited the first quarter of 2024 with cash and cash equivalents of $548 million compared with $679.22 million at the prior-quarter end. GLNG’s share of contractual debt at the first-quarter end increased 5% to $1.21 billion.
GLNG repurchased 0.7 million shares at an average price of $20.87 per share during first-quarter 2024. As of Mar 31, 2024, 104 million shares were issued and outstanding. Of the $150 million approved share buyback scheme, $74.1 million remains available.
Currently, GLNG carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported first-quarter 2024 earnings (excluding 39 cents from non-recurring items) of 45 cents per share, which comfortably beat the Zacks Consensus Estimate of 36 cents. Earnings increased 80% on a year-over-year basis.
Revenues of $13.75 billion surpassed the Zacks Consensus Estimate of $12.84 billion and increased 7.75% on a year-over-year basis, driven by strong air-travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $12.56 billion, up 6% year over year.
United Airlines Holdings, Inc.(UAL - Free Report) reported first-quarter 2024 loss per share (excluding 23 cents from non-recurring items) of 15 cents, which was narrower than the Zacks Consensus Estimate’s loss of 53 cents. In the year-ago reported quarter, UAL reported a loss of 63 cents per share.
Operating revenues of $12,539 million beat the Zacks Consensus Estimate of $12,428.4 million. The top line increased 9.7% year over year due to upbeat air-travel demand. This was driven by a 10.1% rise in passenger revenues (accounting for 90.2% of the top line) to $11,313 million. Almost 39,325 passengers traveled on UAL flights in the first quarter, up 6.8% year over year.
J.B. Hunt Transport Services, Inc.’s (JBHT - Free Report) first-quarter 2024 earnings of $1.22 per share missed the Zacks Consensus Estimate of $1.53 and declined 35.5% year over year.
JBHT’s total operating revenues of $2,944 million missed the Zacks Consensus Estimate of $3,117.1 million and fell 8.8% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 7% year over year. The downfall was owing to a 9% decrease in segment gross revenue per load in both Intermodal (JBI) and Truckload (JBT), 22% fewer loads in Integrated Capacity Solution (ICS), and a modest decline in average trucks and productivity in Dedicated Contract Services (DCS). Revenue declines in JBI, ICS, JBT and DCS were partially offset by Final Mile Services (FMS) revenue growth of 2%, primarily driven by new contracts implemented over the past year.