GLNG - Golar LNG: Great Quarter But Macro Concerns Keep Us On Hold
Golar LNG (GLNG) had a very strong 3Q18 with revenues and EBITDA both beating consensus by 10% and 20%, respectively. Several developments during this quarter include: 1) Hilli FLNG being fully operational with potential expansion of two more trains, 2) Tortue FLNG on track for 2018 FID, 3) Delfin LNG started gaining momentum as a result of the management change, and 4) the stronger-than-expected LNG shipping market thus far. In addition, turning FCF positive for the first time in 6 years represents a landmark event for the company, giving glimpses of the company’s