CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Greece's Capital Clean Energy Q3 revenue rises 44% on fleet growth

By Reuters News


Overview

  • Greece-based gas carrier operator's Q3 revenue rose 44% yr/yr on fleet expansion

  • Q3 net income increased 52% yr/yr

  • Revenue growth mainly driven by additional vessel deliveries


Outlook

  • Company expects LNG shipping market to remain volatile due to geopolitical uncertainty

  • Company sees long-term LNG demand supported by new liquefaction capacity and energy security concerns

  • Company expects replacement of older vessels to support demand for modern LNG carriers


Result Drivers

  • FLEET EXPANSION - Co said revenue growth was mainly driven by additional vessel deliveries and increased fleet size

  • INCREASED AVAILABLE DAYS - Revenue benefited from more available days for certain vessels following completion of special surveys

  • HIGHER VOYAGE EXPENSES - Co said voyage expenses rose due to costs incurred for vessels delivered before employment and ballast legs for vessels undergoing special surveys


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Income

$34.60 mln

Q3 Vessel Operating Expenses

$25.90 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Oct 29 - Cheniere Energy Q3 profit rises 12% on LNG volumes and margins

  • Oct 29 - Cheniere Energy Partners Q3 net income rises on higher LNG margins

  • Oct 29 - QatarEnergy buys US, other LNG to hedge future Hormuz disruptions


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.