2024-02-14 14:24:05 ET
Start Time: 08:00
End Time: 09:05
Avance Gas Holding Ltd (AVACF)
Q4 2023 Earnings Conference Call
February 14, 2024, 08:00 AM ET
Company Participants
Øystein Kalleklev - CEO
Randi Bekkelund - CFO
Conference Call Participants
Presentation
Operator
Good day, and thank you for standing by. Welcome to the Avance Gas Holding Limited Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.
I'd now like to hand the conference over to your first speaker today, Øystein Kalleklev, CEO. Please go ahead.
Øystein Kalleklev
Thank you and welcome everybody to the full year result presentation for Avance Gas. We very much appreciate you sharing your Valentine's Day with myself and Randi, and I hope we will get you in the right mood for the rest of the night. So before we begin, I just want to remind you on the disclaimer. Randi?
So this is a not exact science so we will give some forward-looking statements. We use a couple of non-GAAP measures like time charter equivalent earnings and of course we cannot cover all the ground in this short presentation, so we also recommend you read our quarterly report which we also published this morning. So with that, I think we are ready to go.
So let's review the highlights. Numbers came in slightly ahead of our guidance provided in November. Time charter equivalent rate or earnings per ship, this is the average hedging [ph] rate, was 76,200 per day, slightly ahead of our guidance of $70,000 to $75,000 per day. So please note that we are guiding on discharge-to-discharge numbers. That resulted in a very nice profit for the quarter, 61.5 million in total, translating into earnings per share of $0.80 which is actually the second best quarterly results we have delivered in the history of the company, only beaten by Q3 in 2015. ...
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Avance Gas Holding Ltd (AVACF) Q4 2023 Earnings Call Transcript