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Cheniere Energy reports Q2 profit, reconfirms 2020…

By Sabrina Valle

Aug 6 – Cheniere Energy Inc on Thursday posted a second-quarter profit on higher margins from cargoes that were canceled by clients and then redirected to different buyers.

The largest U.S. exporter of liquefied natural gas (LNG) reported a profit of 78 cents per share in the quarter. Analysts on average had expected a forecast of 58 cents per share, according to IBES Refinitiv.

Cheniere also reconfirmed its full-year 2020 guidance of $3.8 billion to $4.1 billion in consolidated adjusted EBITDA and $1.0 billion to $1.3 billion in distributable cash flow.

“We delivered strong results for the second quarter of 2020, despite the challenging LNG market environment and continued global impact of the COVID-19 pandemic,” said Jack Fusco, Cheniere´s chief executive officer. (Reporting by Sabrina Valle; Editing by David Evans and Paul Simao)

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