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10-K annual report · filed Feb 26, 2019

Cheniere Energy Inc (LNG) FY2018 10-K Annual Report

LNG overviewOriginal on SEC EDGAR
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Cheniere Energy Inc (LNG) filed its fiscal 2018 10-K annual report with the SEC on Feb 26, 2019. It reported revenue of $7.9B (+39.6% year over year) and net income of $471M.

  • Top risk flagged: $29.2B debt and $981M cash at December 31, 2018, creating refinancing and liquidity exposure

FY2018 key financial metrics · XBRL

Revenue
$7.9B
+39.6% YoY
Net income
$471M
+219.8% YoY
Operating margin
25.8%
+1.1 pp YoY
EPS (diluted)
$1.90
+213.1% YoY
ROE
-89.5%
−111.8 pp YoY
Operating cash flow
$2.0B
+61.7% YoY

Source: XBRL data from the Cheniere Energy Inc (LNG) FY2018 10-K on SEC EDGAR. USD.

Cheniere Energy Inc FY2018 10-K analysis

AI summary of each section, grounded in the filing text

Business Overview

  • Section 'business' was empty or not found.

Management Discussion & Analysis

  • Revenue $7.987B, up $2.386B YoY, driven by LNG revenues of $7.572B versus $5.317B
  • Net income $471M versus $393M loss; effective tax rate 2.2% versus 0.5%
  • Best segment SPL LNG, $4.677B under third-party SPAs; weakest disclosed segment CCL, commissioning-stage with $33M terminal-cost offset
  • Operating cash flow $1.990B; investing outflow $3.654B, primarily construction, including $25M Midship investment
  • Financing inflow $2.207B, including $1.1B notes issuance; outlook: higher revenue after Train 5 and CCL Trains 1 through 3 operations, with construction and financing needs remaining key risks

Risk Factors

  • $29.2B debt and $981M cash at December 31, 2018, creating refinancing and liquidity exposure
  • Dodd-Frank Act and CFTC position limits could restrict Henry Hub hedging and increase derivatives costs
  • Hurricanes threaten Sabine Pass and Corpus Christi coastal operations, with Harvey suspending construction and LNG loading in 2017
  • Bechtel contractor performance failures could delay SPL and CCL Train construction and increase costs
  • LNG competition from lower-cost pipeline gas, coal, oil and non-U.S. LNG could impair SPA renewals and pricing

Generated from the filing text; verify against the original. How to read a 10-K

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