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Quarterly earnings of 42 cents per share missed the Zacks Consensus Estimate of 44 cents and declined year over year. Revenues of $63 million lagged the Zacks Consensus Estimate of $67.4 million and declined year over year.
Adjusted EBITDA of $58.71 million declined 29% year over year.
Golar LNG Limited Price, Consensus and EPS Surprise
GLNG exited the second quarter of 2024 with cash and cash equivalents of $527.59 million compared with $548 million at the prior-quarter end.
GLNG’s share of contractual debt at the end of the reported quarter increased 2% to $1.19 billion.
GLNG’s board of directors approved a second-quarter 2024 dividend of 25 cents per share. The dividend will be paid on or around Sep 3, 2024, to shareholders of record at the close of business on Aug 26.
As of Jun 30, 2024, 104.0 million shares were issued and outstanding. Of the $150.0 million approved share buyback scheme, $74.1 million remains available.
Zacks Rank and Price Performance
Currently, GLNG carries a Zacks Rank #5 (Strong Sell).
So far this year, shares of GLNG have gained 43.8%, outperforming the industry’s surge of 23.2%.
Image Source: Zacks Investment Research
Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported second-quarter 2024 earnings (excluding 35 cents from non-recurring items) of $2.36 per share, which marginally missed the Zacks Consensus Estimate of $2.37. Earnings decreased 11.9% on a year-over-year basis. Apart from high costs, the carrier blamed the discounting pressure at the low end of the market, which hurt its pricing power, for the disappointing performance.
Revenues of $16.65 billion surpassed the Zacks Consensus Estimate of $16.25 billion and increased 6.9% year over year, driven by upbeat air travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $15.41 billion, up 5.4% year over year.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported disappointing second-quarter 2024 results wherein both earnings and revenues lagged the Zacks Consensus Estimate.
JBHT’s earnings of $1.32 per share missed the Zacks Consensus Estimate of $1.51 and declined 27% year over year.
JBHT’s total operating revenues of $2.93 billion missed the Zacks Consensus Estimate of $3.03 billion and fell 7% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 6% year over year. The downfall was owing to a 5% decrease in gross revenue per load in Intermodal (JBI) and a decline in load volume of 25% in Integrated Capacity Solutions (ICS), 9% in Truckload (JBT), and 9% in Dedicated Contract Services (DCS). These were partially offset by the 5% revenue growth of Final Mile Services (FMS), primarily driven by new contracts implemented over the past year, and a 5% increase in revenue per load in ICS.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2024 earnings per share (excluding 18 cents from non-recurring items) of $4.14, which surpassed the Zacks Consensus Estimate of $3.97. Earnings decreased 17.7% on a year-over-year basis.
Operating revenues of $14.98 billion missed the Zacks Consensus Estimate of $15.13 billion. The top line increased 5.7% year over year due to upbeat air-travel demand. This was driven by a 5.2% rise in passenger revenues (which accounted for 91.2% of the top line) to $13.680 billion. Almost 44,375 passengers traveled on UAL flights in the second quarter, up 5.8% year over year.
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Golar LNG (GLNG) Q2 Earnings, Revenues Lag Estimates, Down Y/Y
Golar LNG Limited (GLNG - Free Report) reported lower-than-expected second-quarter 2024 earnings performance.
Quarterly earnings of 42 cents per share missed the Zacks Consensus Estimate of 44 cents and declined year over year. Revenues of $63 million lagged the Zacks Consensus Estimate of $67.4 million and declined year over year.
Adjusted EBITDA of $58.71 million declined 29% 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 second quarter of 2024 with cash and cash equivalents of $527.59 million compared with $548 million at the prior-quarter end.
GLNG’s share of contractual debt at the end of the reported quarter increased 2% to $1.19 billion.
GLNG’s board of directors approved a second-quarter 2024 dividend of 25 cents per share. The dividend will be paid on or around Sep 3, 2024, to shareholders of record at the close of business on Aug 26.
As of Jun 30, 2024, 104.0 million shares were issued and outstanding. Of the $150.0 million approved share buyback scheme, $74.1 million remains available.
Zacks Rank and Price Performance
Currently, GLNG carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So far this year, shares of GLNG have gained 43.8%, outperforming the industry’s surge of 23.2%.
Image Source: Zacks Investment Research
Performances of Other Transportation Companies
Delta Air Lines (DAL - Free Report) reported second-quarter 2024 earnings (excluding 35 cents from non-recurring items) of $2.36 per share, which marginally missed the Zacks Consensus Estimate of $2.37. Earnings decreased 11.9% on a year-over-year basis. Apart from high costs, the carrier blamed the discounting pressure at the low end of the market, which hurt its pricing power, for the disappointing performance.
Revenues of $16.65 billion surpassed the Zacks Consensus Estimate of $16.25 billion and increased 6.9% year over year, driven by upbeat air travel demand. Adjusted operating revenues (excluding third-party refinery sales) came in at $15.41 billion, up 5.4% year over year.
J.B. Hunt Transport Services, Inc. (JBHT - Free Report) reported disappointing second-quarter 2024 results wherein both earnings and revenues lagged the Zacks Consensus Estimate.
JBHT’s earnings of $1.32 per share missed the Zacks Consensus Estimate of $1.51 and declined 27% year over year.
JBHT’s total operating revenues of $2.93 billion missed the Zacks Consensus Estimate of $3.03 billion and fell 7% year over year. Total operating revenues, excluding fuel surcharge revenue, fell 6% year over year. The downfall was owing to a 5% decrease in gross revenue per load in Intermodal (JBI) and a decline in load volume of 25% in Integrated Capacity Solutions (ICS), 9% in Truckload (JBT), and 9% in Dedicated Contract Services (DCS). These were partially offset by the 5% revenue growth of Final Mile Services (FMS), primarily driven by new contracts implemented over the past year, and a 5% increase in revenue per load in ICS.
United Airlines Holdings, Inc. (UAL - Free Report) reported second-quarter 2024 earnings per share (excluding 18 cents from non-recurring items) of $4.14, which surpassed the Zacks Consensus Estimate of $3.97. Earnings decreased 17.7% on a year-over-year basis.
Operating revenues of $14.98 billion missed the Zacks Consensus Estimate of $15.13 billion. The top line increased 5.7% year over year due to upbeat air-travel demand. This was driven by a 5.2% rise in passenger revenues (which accounted for 91.2% of the top line) to $13.680 billion. Almost 44,375 passengers traveled on UAL flights in the second quarter, up 5.8% year over year.