Q1 2025 Cool Company Ltd Earnings Call Transcript
Key Points
- Cool Co Ltd (CLCO) reported an increase in total operating revenue to $85.5 million in Q1, up from $84.6 million in Q4.
- The company successfully delivered the GAIL Sagar and secured employment for two vessels, enhancing its revenue backlog.
- Cool Co Ltd (CLCO) has a strong contracted revenue backlog exceeding $1.6 billion, providing long-term financial stability.
- The company completed several dry docks on time and within budget, minimizing downtime and ensuring uninterrupted service.
- Cool Co Ltd (CLCO) maintains a strong balance sheet with solid liquidity and no debt maturities until mid-2029.
- Average TCE rates decreased to $70,600 per day from $73,900 in the previous quarter due to repositioning expenses.
- Adjusted EBITDA decreased to $53.4 million from $55.3 million in Q4, impacted by increased vessel operating expenses.
- Net income for the quarter dropped to $9.1 million from $29.4 million in Q4, partly due to interest expenses and swap losses.
- The LNG market conditions remain challenging with spot market rates below economic breakeven levels.
- Cool Co Ltd (CLCO) faces uncertainty in securing long-term charters due to geopolitical and market volatility.
God morning, and thank you for standing by. My name is Carly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Cool Company Limited Q1 2025 business update.
(Operator Instructions) I would now like to turn the call over to Richard Tyrrell, Chief Executive Officer. Please go ahead.
Hello, and I'd like to welcome you all to the CoolCo presentation of the first quarter 2025. Carly, thank you for the introduction. We'll begin on page 3 with CoolCo at a glance. Those who recall the last quarter's presentation will notice many of the same trends are continuing.
And while rates on our open vessels remain under pressure, we're moving steadily closer to a rebalanced market. As this process unfolds, we intend to remain patient, disciplined and focused on maximizing long-term shareholder value.
In the meantime, we're working hard to deliver full employment for our vessels at the best possible rates. We also have a dry dock program to execute, as
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
