Cheniere reports 16% Q2 EBITDA rise, revenues jump 48%

|About: Cheniere Energy, Inc. (LNG)|By:, SA News Editor

Cheniere Energy (LNG +2.6%) is on the rise after posting a Q2 loss but a 48% Y/Y rise in revenues to $2.29B, as strong volumes and sales made up for lower liquefied natural gas prices.

The company attributes the Q2 loss to costs associated with bringing new production units online at its export terminals in Louisiana and Corpus Christi, Tex., as well as other operations and maintenance costs.

Q2 consolidated adjusted EBITDA rose 16% Y/Y to $615M from $531M a year ago, primarily due to increased income from operations.

LNG says Q2 cost of sales climbed to nearly $1.3B from $873M in the year-ago quarter after buying natural gas feedstocks, chartering tankers and paying them to sit in port while the production units were being commissioned.

The company also spent $295M on operations and maintenance costs in Q2 compared to $147M a year ago.

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