Why Venture Global Rallied Today, Despite an Earnings "Miss"
Shares of liquefied natural gas export terminal operator Venture Global (NYSE: VG) rallied 8.3% today, despite the company missing on both revenue and earnings in the first quarter.Venture Global reported this morning, coming up short of analyst expectations, while lowering its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) outlook for the year. Nevertheless, the stock rallied as management noted its second liquefied natural gas (LNG) facility would be up and running to full production earlier than expected, which will enable the company to sell LNG at very high spot prices.Continue reading
Shares of liquefied natural gas export terminal operator Venture Global (NYSE: VG) rallied 8.3% today, despite the company missing on both revenue and earnings in the first quarter.
Venture Global reported this morning, coming up short of analyst expectations, while lowering its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) outlook for the year.
Nevertheless, the stock rallied as management noted its second liquefied natural gas (LNG) facility would be up and running to full production earlier than expected, which will enable the company to sell LNG at very high spot prices.
