GasLog Ltd Earnings: Here’s Why Shares are Up Now
GasLog Ltd (NYSE:GLOG) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.88%.
GasLog Ltd Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 175% to $0.11 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 97.19% to $32.95 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: GasLog Ltd reported adjusted EPS income of $0.11 per share. By that measure, the company missed the mean analyst estimate of $0.12. It beat the average revenue estimate of $32.59 million.
Quoting Management: Mr. Paul Wogan, Chief Executive Officer, stated “This has been yet another good quarter for GasLog. Not only did we continue to execute on our existing business plan that we outlined to investors at the time of our initial public offering (“IPO”), we have once again been able to add further growth at attractive returns. The latest 2 newbuildings that we have ordered from Samsung and which, on delivery, will commence 7 year charters to BG, clearly demonstrates the ability of GasLog’s LNG shipping platform to continue to add accretive growth in what we believe will be a positive long term secular trend for the LNG industry. In addition the successful placing of our first bond and the refinancing of our existing loan facility on GAS-two Ltd., demonstrates our ability to access funding from a variety of sources and at competitive rates enabling us to continue to take advantage of attractive opportunities within the sector.”
Key Stats (on next page)…