Tue, Feb 25, 10:15 PM (54 days ago)
Stabilis Solutions, Inc. (SLNG) reported nearly flat annual revenues of $73.3M for FY 2024 compared to $73.1M in FY 2023, driven by higher LNG delivery volumes, improved pricing, and increased rental and service revenues—offset by lower natural gas prices and reduced minimum take‐or‐pay contract volumes. Operating expenses dropped 5.4%, enabling operating income of $4.95M versus a prior loss. Net income surged to $4.6M, with basic/diluted earnings per share of $0.25, up from $0.01. The company continues to invest in LNG liquefaction and transportation assets in North America, reinforcing its market position as a leading small-scale LNG provider, while expanding into marine bunkering and grid resiliency markets. It holds a 40% stake in BOMAY Electric Industries in China. The report also addresses risk factors including commodity price volatility, regulatory challenges, and liquidity constraints. A recent management transition saw Chairman J. Casey Crenshaw assume interim CEO duties, reflecting strategic momentum and operational improvements to support future growth.