Shares of Golar LNG were up Wednesday morning after the company reported a Q3 net loss that narrowed sharply from a year earlier with revenues beating forecasts compiled by Capital IQ.
The operator of natural gas shipping carriers said Q3 net loss narrowed to $23.9 million from a loss of $143.0 million in the year-ago quarter.
Revenues totaled $22.3 million, sliding from $24.3 million but above the $17.3 million consensus.
Looking ahead, the company expects Q4 shipping results to be about in line with Q3. Golar LNG also said that a current shipping market strengthening is “pushing Q1 utilization toward Q3 levels,” and that stockholders can expect a positive improvement in Q1 revenues.