Golar LNG Partners has seen its first quarter profit both decline and miss the analysts’ expectations.
The master limited partnership (MLP) reported net income of $19.8m for the first three months of the year, compared to $33.7m a year earlier.
Earnings per share of $0.32 fell short of the market’s forecast of $0.50 while revenue improved from $99.8m to $101.1m.
Golar said it is in a strong position irrespective of the LNG carrier market conditions at the end of 2017.
A week ago, the company completed the acquisition of the FSRU Golar Tundra for $330m and secured a fresh $800m credit facility.
As of the end of March, Golar had cash of $55.5m and available credit facilities of around $12m with a total debt of $1.25bn.
