GOLAR LNG (GLNG) Company Report

Analyst Coverage

Research analysts who have asked questions during GOLAR LNG earnings calls.

Alexander Bidwell

Stifel Financial Corp.

6 questions for GLNG

Also covers: CCEC, CLCO, LNG

Christopher Robertson

Deutsche Bank AG

5 questions for GLNG

Also covers: EE, GNK, INSW +4 more

Liam Burke

B. Riley Financial

4 questions for GLNG

Also covers: ALTG, BWMN, CCEC +23 more

Sherif Elmaghrabi

BTIG

4 questions for GLNG

Also covers: BE, DHT, FIP +13 more

Benjamin Nolan

Stifel

2 questions for GLNG

Also covers: ASC, CDLR, CMRE +17 more

Fredrik Dybwad

Fearnley Securities

2 questions for GLNG

Also covers: ECO

Gregory Lewis

BTIG, LLC

2 questions for GLNG

Also covers: ABTC, BLBD, BTDR +27 more

John Mackay

Goldman Sachs Group, Inc.

2 questions for GLNG

Also covers: AM, ARIS, CQP +17 more

Petter Haugen

ABG Sundal Collier

2 questions for GLNG

Also covers: BWLP, CLCO, CMBT +4 more

Spiro Dounis

Citigroup Inc.

2 questions for GLNG

Also covers: ARIS, CQP, DTM +15 more

Chris Robertson

Deutsche Bank

1 question for GLNG

Also covers: EE, GNK, INSW +3 more

Christopher Bass Kay

Arctic Securities

1 question for GLNG

Craig Shere

Tuohy Brothers

1 question for GLNG

Also covers: AMRC, CLNE, CQP +11 more

Eric Bauzell

Fearnley Securities

1 question for GLNG

Frode Morkedal

Clarksons Securities AS

1 question for GLNG

Also covers: CLCO, CMBT, DHT +5 more

Michael Webber

Webber Research & Advisory

1 question for GLNG

Also covers: CQP

Latest news

Recent press releases and 8-K filings for GLNG.

Golar LNG Reports Strong Q4 and Full-Year 2025 Results, Operational Successes, and Financing Activities

GLNG

Earnings

Debt Issuance

Share Buyback

Golar LNG reported Q4 2025 net income attributable to Golar of $10 million and Adjusted EBITDA of $91 million, with full-year 2025 net income of $66 million and Adjusted EBITDA of $265 million. Total operating revenues for Q4 2025 were $132.8 million and $393.5 million for the full year 2025.
Operationally, FLNG Hilli exceeded its 2025 production target, FLNG Gimi overproduced in Q4 2025, and MKII construction is on time and on budget, with all conditions satisfied for its 20-year contract with SESA.
Financially, Golar LNG closed and drew down a $1.2 billion FLNG Gimi secured bank facility and issued $500 million of 5-year 7.50% senior unsecured notes.
The company also repurchased 1.1 million shares during Q4 2025 at an average price of $37.76 per share and declared a dividend of $0.25 per share for the quarter.

3 days ago

6-K

Golar LNG Reports Strong Q4 and Full-Year 2025 Results, Advances FLNG Projects, and Explores Strategic Options

GLNG

Earnings

New Projects/Investments

Share Buyback

Golar LNG reported Q4 2025 operating revenues of $133 million and full-year 2025 revenues of $394 million, marking a 52% increase over 2024, with full-year net income of $113 million.
The company's Adjusted EBITDA for Q4 2025 was $91 million, totaling $265 million for the year. A dividend of $0.25 per share was declared for Q4 2025.
Golar completed $1.7 billion in financing transactions in Q4 2025, including a $1.2 billion bank refinancing for Gimi and a $500 million U.S. unsecured bond offering at a 7.5% coupon. The company also bought back and canceled 3.6 million shares in 2025.
All conditions for the Mark II's 20-year contract in Argentina were met, and an LOI was signed with SEFE for an eight-year offtake deal for 2 million tons of production from Argentina. The board is exploring strategic options to enhance shareholder value due to perceived undervaluation.

3 days ago

Transcript

Golar LNG Reports Strong Q4 and Full-Year 2025 Results, Advances FLNG Projects, and Announces Strategic Review

GLNG

Earnings

Share Buyback

New Projects/Investments

Golar LNG reported Q4 2025 operating revenues of $133 million and net income of $23 million, with full-year 2025 operating revenues reaching $394 million, an increase of over 52% compared to 2024, and adjusted EBITDA of $265 million for the full year.
The company's FLNG vessels, Hilli and Gimi, demonstrated strong operational performance, with Hilli achieving 100% economic uptime and Gimi producing above contracted volumes, leading to increased earnings. The Mark II FLNG construction is approximately 50% complete and remains on schedule for delivery by year-end 2027.
Golar LNG strengthened its balance sheet with new financing transactions totaling $1.7 billion in Q4 2025, including a $1.2 billion bank refinancing for Gimi and a $500 million bond offering. The company also returned $250 million to shareholders in 2025 through $144 million in share buybacks and $103 million in dividends.
The company holds an EBITDA backlog of $17 billion and expects adjusted EBITDA to grow to approximately $800 million once the entire fleet is operational on long-term contracts. A strategic review is underway to maximize shareholder value, with discussions for new FLNG projects in Africa, the Middle East, and South America.

3 days ago

Transcript

Golar LNG Reports Strong Q4 and Full Year 2025 Financial Results and Operational Progress

GLNG

Earnings

New Projects/Investments

Share Buyback

Golar LNG reported Q4 2025 Adjusted EBITDA of $91 million and full-year 2025 Adjusted EBITDA of $265 million, with total operating revenue reaching $394 million for the full year.
The company secured ~$14 billion in two 20-year FLNG contracts for the FLNG Hilli and MKII FLNG in Argentina during 2025, contributing to an Adjusted EBITDA backlog of ~$17 billion.
Operational highlights include the FLNG Gimi commencing its 20-year contract in June 2025 and the MKII FLNG project remaining on schedule for Q4 2027 delivery.
Golar LNG returned $247 million to shareholders in 2025 through $144 million in buybacks and $103 million in dividends, and declared a quarterly dividend of $0.25 per share for Q4 2025.
The company's LTM Adjusted EBITDA of $232 million at Q4 2025 is projected to increase to $800 million once fully delivered by 2028, supported by a $1.2 billion cash balance.

3 days ago

Presentation

Golar LNG Reports Strong Q4 and Full-Year 2025 Results, Advances FLNG Fleet, and Initiates Strategic Review

GLNG

Earnings

Share Buyback

New Projects/Investments

Golar LNG reported strong financial performance for Q4 2025, with $133 million in operating revenues and $91 million in adjusted EBITDA, contributing to full-year 2025 operating revenues of $394 million and adjusted EBITDA of $265 million.
The company's FLNG fleet demonstrated robust operational progress, with Hilli maintaining 100% economic uptime and Gimi producing above contracted volumes after starting its 20-year contract in June 2025. The Mark II FLNG construction is on schedule, approximately 50% complete, and expected for delivery by year-end 2027.
Golar secured $2.275 billion in new financing facilities in 2025, including a $1.2 billion Gimi bank refinancing and a $500 million unsecured bond offering. The company returned $250 million to shareholders in 2025 through $103 million in dividends and $144 million in share buybacks, canceling 3.6 million shares.
Looking ahead, Golar anticipates annual EBITDA to grow to $800 million once all three FLNGs are fully operational in Argentina, with potential free cash flow generation of approximately $500 million per year or $5 per share. The board has also initiated a strategic process to explore ways to enhance shareholder value.

3 days ago

Transcript

Golar LNG Announces Successful Refinancing of FLNG Gimi

GLNG

Debt Issuance

Golar LNG Limited has successfully closed and drawn a new $1.2 billion asset-backed debt facility for the refinancing of FLNG Gimi.
This new facility replaces an existing bank facility with an outstanding amount of $627 million as of Q3 2025.
The debt facility has a 7-year tenor, a 16-year amortization profile, and incurs interest at SOFR plus a margin of 2.50% p.a..
Golar's 70% share of the net liquidity released from this refinancing amounts to approximately $400 million.

Nov 25, 2025, 1:36 PM

6-K

Golar LNG Reports Q3 2025 Financial Results and Strategic Developments

GLNG

Earnings

Debt Issuance

New Projects/Investments

For the nine months ended September 30, 2025, Golar LNG reported total operating revenues of $260.710 million and net income of $89.428 million, compared to $194.455 million and $65.756 million respectively for the same period in 2024. Adjusted EBITDA for the period was $173.611 million.
The company issued $500 million in senior unsecured notes in October 2025, with net proceeds of $491.0 million used partly to repay $189.7 million of maturing bonds, and entered into a $1.2 billion refinancing agreement for the FLNG Gimi debt facility in November 2025.
A new $150 million share buyback program was approved in November 2025, with $9.7 million already used, and a dividend of $0.25 per share was declared for the third quarter of 2025.
Golar LNG secured a 20-year charter for the MKII FLNG in October 2025, with operations expected to commence in 2028 and a fixed annual charter hire of $400 million. The FLNG Gimi also achieved its Commercial Operations Date in June 2025, and the company completed its exit from shipping operations in Q1 2025.

Nov 13, 2025, 12:20 PM

6-K

Golar LNG Reports Q3 2025 Results, Secures MKII FLNG Charter, and Announces Shareholder Returns

GLNG

Earnings

New Projects/Investments

Share Buyback

Golar LNG reported $123 million in total operating revenues, $83 million in Adjusted EBITDA, and $46 million in net income for Q3 2025.
The company reached Final Investment Decision (FID) in August 2025 for a 20-year charter of the MKII FLNG with SESA, with all conditions precedent completed in October 2025, adding an $8 billion Adjusted EBITDA backlog. This contributes to a total Adjusted EBITDA backlog of approximately $17 billion.
Golar LNG approved the order of long lead items for a 4th FLNG unit in Q4 2025, signaling continued growth initiatives.
The company declared a $0.25 per share dividend payable in November 2025 and approved a new $150 million share buyback program on November 4, 2025. Additionally, it issued $500 million in senior unsecured notes in October 2025.

Nov 5, 2025, 1:00 PM

Presentation

Golar Reports Q3 2025 Results, Secures Mark II Charter, and Announces New Share Buyback Program

GLNG

Earnings

New Projects/Investments

Share Buyback

Golar reported $123 million in total operating revenues, $83 million in adjusted EBITDA, and a net income of $46 million for Q3 2025.
The company achieved final FID and fulfilled all conditions for the Mark II's 20-year charter in Argentina, increasing the total EBITDA backlog to $17 billion before commodity upside and inflationary adjustments.
Golar is on track to order its fourth FLNG unit and anticipates EBITDA to quadruple by 2028 when all three FLNG units are fully operational. A new $1.2 billion bank refinancing facility for GIMI is expected to close in Q4 2025, releasing over $400 million in net proceeds.
A dividend of $0.25 per share was declared, and the board approved a new $150 million share buyback program.

Nov 5, 2025, 1:00 PM

Transcript

Golar LNG Reports Q3 2025 Results and Strategic Updates

GLNG

Earnings

Debt Issuance

Share Buyback

Golar LNG reported Q3 2025 net income attributable to Golar of $31 million and Adjusted EBITDA of $83 million.
The company entered the U.S. rated bond market with $500 million of 5-year 7.5% senior unsecured notes on October 2, 2025, and repaid $190 million of 2021 Unsecured Bonds on October 20, 2025.
Golar's existing FLNG fleet has secured 20-year charter agreements, resulting in a combined Adjusted EBITDA backlog of $17 billion (Golar's share), with the MKII FLNG charter adding an additional $8 billion.
A new $150 million share buyback program was approved, and a dividend of $0.25 per share was declared for the quarter.