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)