Cheniere Energy, Inc. (NYSE: LNG) today announced its financial results for the first quarter 2024.
During the first three months of the calendar year, Cheniere generated revenues of approximately $4.3 billion, net income of approximately $0.5 billion, Consolidated Adjusted EBITDA of approximately $1.8 billion, and Distributable Cash Flow2 of approximately $1.2 billion.
Pursuant to Cheniere’s comprehensive capital allocation plan, during the three months ended March 31, 2024, Cheniere repurchased an aggregate of approximately 7.5 million shares of common stock for approximately $1.2 billion, prepaid $150 million of consolidated long-term indebtedness, and paid a quarterly dividend of $0.435 per share of common stock.
In April 2024, Cheniere declared a dividend with respect to the first quarter 2024 of $0.435 per share of common stock, which is payable on May 17, 2024.
Net income was approximately $0.5 billion as compared to approximately $5.4 billion for the corresponding 2023 period.
CEO Jack Fusco said, “Our strong financial results in the first quarter of 2024 reinforce our confidence in delivering full year Consolidated Adjusted EBITDA and Distributable Cash Flow within our guidance ranges.”
“Our focus for 2024 remains on excellence in execution across our operations, construction and project development initiatives. Our leading track record on these fronts is a significant competitive advantage as we pursue LNG capacity expansions at both Sabine Pass and Corpus Christi, which will enable our customers to realize the energy security, reliability, and environmental benefits of our LNG.”
LNG shares gave back $3.46, or 2.2%, to $157.17.
