Venture Global reports Q1 EPS 15c, consensus 28c

Reports Q1 revenue $2.9B, consensus $2.97B. “Venture Global (VG) had a strong first quarter in terms of both project execution and financial performance, nearly doubling our quarterly revenue year-over-year,” said CEO Mike Sabel. “Our first facility, Calcasieu Pass, achieved its Commercial Operation Date, commencing the delivery of reliable low-cost, U.S. LNG to the project’s long term customers. Eighteen of the liquefaction trains at our second facility, Plaquemines, have demonstrated production levels of approximately 140% of nameplate capacity, providing unprecedented flexibility to meet market demand. And for our third facility, CP2, we are grateful to have received approval from the U.S. Department of Energy to export LNG to non-FTA countries, secured a $3.0B bank loan for the Project, and received a positive final supplemental environmental impact statement from FERC, marking major steps toward FID.”