On August 24, 2017, Hoegh LNG Partners (HMLP) released its 2Q17 earnings. It was followed by a conference call the same day.
Highlights of 2Q17 results
- Hoegh LNG Partners earned revenue of $35.0 million in 2Q17 compared to $22.8 million in 2Q16.
- The company generated operating income of $23.1 million in 2Q17 compared to $11.3 million in 2Q16. Its net income also rose from $4.1 million in 2Q16 to $12.2 million in 2Q17.
- The company paid quarterly distributions of $0.43 per share, which is equivalent to $1.72 per share on an annualized basis.
- On August 24, 2017, the company announced that its subsidiary had entered into a term-sheet to acquire a 23.5% interest in each of the joint ventures that own the FSRU (floating storage and regasification unit) Neptune and GDF Suez’s Cape Ann. The FSRUs have a minimum of 12 to 13 years remaining on their contracts.
On the day the company released its 2Q17 results, HMLP stock rose 1.3%. Following are the stock returns on August 24, 2017, for other LNG (liquefied natural gas) (UNG) carrier companies:
- Dynagas LNG Partners (DLNG): fell 0.42%
- GasLog (GLOG): rose 0.90%
- Golar LNG Partners (GMLP): rose 0.20%
- Teekay LNG Partners (TGP): rose 0.88%
In this series, we’ll look at HMLP’s 2Q17 results and conference call highlights. We’ll also analyze the company’s current position, management’s future plans, and discussions between management and analysts to gauge the company’s future.