Golar LNG Partners Reports Improved Q1 Profit, Revenues; Shares Rise 1%

By MidnightTrader.com Staff,

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Golar LNG Partners ( GMLP ) reported Q1 net earnings attributable to company owners of $30.31 million, up from $24.28 million in the same period last year. Revenues were $74.9 million, versus revenues of $58.6 million ion the prior-year quarter. Analysts polled by Capital IQ were expecting revenues of $74.74 million.

The company said Q2 operating results will be positively impacted by a full quarter's contribution from the Golar Maria but will also reflect offhire related to the Golar Winter drydock and modification and the Methane Princess drydock. GMLP also said the rate increase in connection with the Golar Winter modification work will commence in Q3.

Shares of GMLP are up almost 1% to $34.23 in morning trade, and have a 52-week spread of $25.52 - $36.

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This article appears in: Investing Commodities
Referenced Stocks: GMLP

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