Cheniere Provides 3Q:23 Financial Highlights [PDF Downloads]

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(Cheniere, 2.Nov.2023) — Cheniere Energy, Inc. (NYSE American: LNG) updated investors on recent highlights during the third quarter of 2023.

  • During the three and nine months ended 30 September 2023, Cheniere generated revenues of approximately $4.2bn and $15.6bn, net income1 of approximately $1.7bn and $8.5bn, Consolidated Adjusted EBITDA2 of approximately $1.7bn and $7.1bn, and Distributable Cash Flow of approximately $1.2bn and $5.5bn, respectively.
  • Reconfirming full year 2023 Consolidated Adjusted EBITDA guidance of $8.3bn – $8.8bn and full year 2023 Distributable Cash Flow guidance of $5.8bn – $6.3bn.
  • Pursuant to Cheniere’s comprehensive capital allocation plan, during the three and nine months ended 30 September 2023, Cheniere prepaid $50mn and approximately $1.1bn, respectively, of consolidated long-term indebtedness, repurchased an aggregate of approximately 2.2mn shares and 7.6mn shares of common stock for approximately $357mn and $1.1bn, respectively, and paid quarterly dividends of $0.395 and $1.185 per share of common stock, respectively. For the third quarter 2023, Cheniere increased its quarterly dividend by 10% to $0.435 per share of common stock, which is payable on 17 November 2023.
  • In August 2023, Cheniere Marketing, LLC entered into a long-term LNG sale and purchase agreement (SPA) with BASF, under which BASF has agreed to purchase up to approximately 0.8 million tonnes per annum (mtpa) of LNG from Cheniere Marketing on a free-on-board (FOB) basis, with deliveries commencing in mid-2026 and, subject to a positive Final Investment Decision with respect to the first train (Train Seven) of the SPL Expansion Project (defined below), increasing to approximately 0.8 mtpa upon the start of commercial operations of Train Seven, and extending through 2043.
  • In August 2023, Cheniere published The Power of Connection, its fourth annual Corporate Responsibility report, which details Cheniere’s approach and progress on Environmental, Social and Governance issues.

In September 2023, Cheniere loaded its 3,000th LNG cargo since commencing export operations in February 2016, achieving this milestone faster than any other LNG operator in history. The cargo was loaded and exported on a FOB basis from the Sabine Pass LNG terminal and was discharged in France.

“The third quarter was marked by key milestones achieved across the Cheniere platform, highlighted by the production of our 3,000th LNG cargo since start-up in 2016. Cheniere achieved that production milestone faster than any other LNG operator in history, which is further evidence of our dedication to operational excellence. Persistent volatility in commodity markets continues to reinforce the value of our commercial offering and the stability and visibility of our cash flows, and we are confident in achieving full year 2023 results at the high end of our guidance ranges. Looking ahead to 2024, construction on Corpus Christi Stage 3 continues to progress ahead of plan, and I am optimistic first LNG production from Train 1 will occur by the end of 2024.”

–Jack Fusco, Cheniere’s President and Chief Executive Officer.


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