Key Takeaways
- Reports Q1 net income of $84 million, a 920% increase year-over-year.
- Achieves record quarterly operating revenues of $137.6 million, up 120%.
- FLNG Hilli successfully offloads its 150th cargo, a key operational milestone.
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Golar LNG Profit Soars 920% on Record Quarterly Revenue
Golar LNG Limited (NASDAQ: GLNG) reported a 920% surge in first-quarter net income attributable to the company, which reached $84 million, driven by record operating revenues that more than doubled from the previous year.
The company did not include executive commentary in its initial results announcement.
For the quarter ended March 31, 2026, Golar's financial performance showed significant year-over-year growth across key metrics. Total operating revenues climbed 120% to $137.6 million, compared to $62.5 million in the first quarter of 2025.
The robust results underscore a period of strong operational performance and favorable conditions in the liquefied natural gas market. The company's Adjusted EBITDA, a key measure of operating profitability, jumped 158% to $106 million. Golar also highlighted an operational milestone, with its floating liquefied natural gas (FLNG) vessel Hilli successfully offloading its 150th cargo during the quarter.
Golar ended the quarter with total cash of $1.0 billion. The company's share of contractual debt stood at approximately $2.71 billion. The first-quarter net income figure included $37 million of non-cash items. The company did not disclose forward-looking guidance in its preliminary results.
The strong earnings report signals Golar's successful conversion of high demand for LNG into significant profit growth. Investors will look for details on future projects and capital allocation during the upcoming investor call.
This article is for informational purposes only and does not constitute investment advice.
