Golar LNG Ltd (NASDAQ:GLNG) stock has reached a remarkable milestone, hitting a 52-week high of $41.55. This peak reflects a significant surge in the company's stock value, with an impressive year-to-date return of 82.8% and a one-year total return exceeding 100%. According to InvestingPro analysis, the company maintains a healthy financial position with a current ratio of 1.55, indicating strong liquidity. Investors have shown growing confidence in GLNG, as the company rides the wave of increasing demand in the liquefied natural gas market. The impressive 52-week performance underscores the company's robust growth trajectory and the bullish sentiment among shareholders betting on the future of natural gas. With a moderate debt-to-equity ratio of 0.7 and strong six-month returns of 57.7%, the company's fundamentals appear solid. InvestingPro subscribers have access to 14 additional investment tips and comprehensive analysis for GLNG, including detailed valuation metrics and growth forecasts.
In other recent news, Golar LNG reported a strong performance for Q3 2024, with notable new orders for Floating Liquefied Natural Gas (OTC:LNGLF) (FLNG (OL:FLNG)) units. The company announced the order of a third FLNG, a Mark II unit, which is expected to increase Golar's capacity by 70% upon its delivery in Q4 2027. This FLNG is unique as it's the first of its kind available for global charter, with contract finalization targeted for 2025.
Golar's existing FLNGs, Hilli and Gimi, have shown strong operational performance. Specifically, Hilli is preparing for a new 20-year charter in Argentina. In terms of financial performance, Golar's Q3 2024 adjusted EBITDA was $59 million, with total revenues of $65 million. Despite these positive developments, the company reported a net loss of $35 million due to non-cash adjustments.
Looking ahead, Golar aims to finalize a contract for the Mark II FLNG by 2025 and expects to double its EBITDA backlog from $11 billion to over $20 billion. These are among the recent developments that underline Golar LNG's strategic focus on expanding its portfolio and its role in the global LNG market.
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