GasLog Q3 Profit Spikes, Matches View - Quick Facts

(RTTNews) - GasLog Ltd. (GLOG), Thursday reported an increase in net income for the third-quarter, with a surge in revenues, mainly attributable to the delivery of the four newbuildings, GasLog Shanghai, the GasLog Santiago, the GasLog Sydney and the GasLog Skagen. On an adjsuted basis, earnings per share matched the consensus estimates.

Profit for the three-month period was $9.2 million or $0.15 per share, compared with $2.9 million or $0.05 per share last year. EBITDA was $27.9 million, compared with $8.6 million a year ago, while adjusted EBITDA was $30.2 million for the quarter.

Excluding the effects of the unrealized loss on swaps and foreign exchange gains, adjusted profit was $11.4 million or $0.18 per share. On average, ten analysts polled by Thomson Reuters expected the company to report earnings per share of $0.18 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the quarter increased to $43.2 million, from prior year's $16.9 million. Analysts expected the company to generate revenues of $42.36 million for the quarter.

On November 13, the company declared a quarterly cash dividend of $0.12 per common share payable on December 9 to shareholders of record on November 25.