Welcome to our dedicated page for Cool Co news (Ticker: CLCO), a resource for investors and traders seeking the latest updates and insights on Cool Co stock.
Cool Company Ltd. ("CoolCo"), formerly listed under the symbol CLCO on the New York Stock Exchange and Euronext Growth Oslo, has generated a steady flow of corporate, financial, and transactional news. As a pure play LNG carrier company with a 13-vessel fleet and a portfolio of short- and long-term charters, its disclosures have covered operational performance, financing activities, and major strategic decisions.
News items for CLCO include quarterly and interim business updates that summarize operating revenues, net income, time charter equivalent earnings, and fleet utilization. These releases often discuss drydocks, LNGe upgrades for specific vessels, and the commencement of new fixed-rate and floating-rate charters, giving readers insight into how CoolCo manages employment for its LNG carriers and invests in performance enhancements.
CoolCo’s announcements also highlight financing and capital structure developments. Press releases and accompanying Form 6-K filings describe interest rate swap agreements used to hedge portions of its floating-rate debt, the use of revolving credit and term loan facilities, and sale and leaseback arrangements for vessels such as Kool Tiger and GAIL Sagar. In addition, the company reported on a share repurchase program, including the number of shares repurchased and the subsequent termination of the program following the signing of a merger agreement.
A significant portion of recent CLCO news relates to its merger with a newly formed, wholly owned subsidiary of EPS Ventures Ltd. Coverage includes the announcement of an agreement in principle, the execution of the Agreement and Plan of Merger, the establishment of record dates and meeting dates for a special general meeting of shareholders, and the final completion of the transaction. These items detail the $9.65 per share cash consideration, the role of an independent special committee, shareholder approval of the merger proposal, and CoolCo’s expectation of delisting and deregistration.
For investors and researchers, the CLCO news stream serves as a historical record of CoolCo’s operations as a public LNG carrier company, its fleet and charter developments, and the steps leading to its acquisition by EPS Ventures Ltd. and transition to private ownership.
Cool Company (NYSE:CLCO) reported Q3 2024 financial results with total operating revenues of $82.4 million, slightly down from $83.4 million in Q2. Net income decreased to $8.11 million from $26.51 million, primarily due to losses in mark-to-market interest rate swaps. The company achieved average Time Charter Equivalent Earnings of $81,600 per day, up from $78,400 in Q2. Notable events include the delivery of newbuild vessel Kool Tiger, completion of scheduled drydocks, and approval for refinancing of $570 million bank facility. The company declared a $0.15 per share quarterly dividend and approved a $40 million share repurchase program.
Cool Company (NYSE: CLCO) has announced its Third Quarter 2024 Earnings call and webcast presentation scheduled for Wednesday, November 20, 2024, at 8:00 A.M. New York / 2:00 P.M. Oslo / 1:00 P.M. London. The presentation materials will be available on the company's website. Participants can join via a listen-only webcast, while sell-side analysts can participate in the Q&A session through teleconference dial-in options. The company recommends connecting 10 minutes before the scheduled start time, with a limit of two questions per participant.
Cool Company (NYSE: CLCO) has announced its Third Quarter 2024 Earnings call and webcast presentation, scheduled for Thursday, November 21, 2024, at 8:30 A.M. New York / 2:30 P.M. Oslo / 1:30 P.M. London. The presentation materials will be available on the company's website at www.coolcoltd.com.
Participants are encouraged to join via the listen-only live webcast link. Sell-side analysts can participate in the Q&A session through teleconference dial-in options, with a limit of two questions per participant. Conference call numbers include +1 800-225-9448 for North America and +1 203-518-9708 for International calls, using conference ID CCL3Q24.
Cool Company (NYSE: CLCO / CLCO.OL) has announced its 2024 Annual General Meeting, scheduled for November 21, 2024. The company has made available the Notice of Annual General Meeting and associated materials, including the 2024 Annual Report on Form 20-F, on its website at www.coolcoltd.com. This information is subject to disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act. For further inquiries, stakeholders can contact the company at +44 207 659 1111 or ir@coolcoltd.com. Key contacts include Richard Tyrrell (Chief Executive Officer) and John Boots (Chief Financial Officer).
Cool Company (NYSE: CLCO / CLCO.OL) has announced its ex-dividend date for the second quarter of 2024. Shareholders will receive a dividend of $0.41 per share. The ex-dividend dates are set as follows:
- Oslo Stock Exchange (OSE): September 6, 2024
- New York Stock Exchange (NYSE): September 9, 2024
This announcement complies with the disclosure requirements of the Norwegian Securities Trading Act, Section 5-12. Investors seeking more information can contact Cool Company at +44 207 659 1111 or ir@coolcoltd.com. The company's key executives are Richard Tyrrell (CEO) and John Boots (CFO).
Cool Company (NYSE: CLCO / CLCO.OL) has announced a cash dividend of $0.41 per share, approved on August 28, 2024. Due to the implementation of the Central Securities Depository Regulation (CSDR) in Norway, there will be different dates for dividend distribution between the New York Stock Exchange (NYSE) and Oslo Stock Exchange (OSE). The payment date for NYSE-listed shares is on or about September 16, 2024, while for shares registered in the VPS (Norwegian central securities depository), it's on or about September 20, 2024. The ex-date for NYSE is September 9, 2024, and for OSE is September 6, 2024. Shareholders may experience restrictions in moving shares between NYSE and OSE during the interim days.
Cool Company (NYSE:CLCO) reported its Q2 2024 results, generating total operating revenues of $83.4 million, down from $88.1 million in Q1 2024. Net income decreased to $26.51 million from $36.81 million in Q1. The company achieved an average Time Charter Equivalent (TCE) of $78,400 per day, up from $77,200 in Q1. Adjusted EBITDA was $55.7 million, compared to $58.5 million in Q1.
Key highlights include securing a 14-year charter with GAIL (India) for one of two new MEGA LNG carriers under construction, completing three drydocks, and declaring a quarterly dividend of $0.41 per share. CoolCo's fleet utilization improved to 99% in Q2 from 95% in Q1. The company expects a moderate increase in TCE rate and revenues for Q3 2024.
Cool Company (NYSE: CLCO / CLCO.OL) has announced that its 2024 Annual General Meeting will be held on November 21, 2024 in London. The company has set September 24, 2024 as the record date for voting at the meeting. Shareholders will receive a notice and associated information through normal distribution methods before the meeting. This information will also be available on the company's website at www.coolcoltd.com. The announcement is subject to disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act. For further inquiries, shareholders can contact the company at +44 207 659 1111 or ir@coolcoltd.com.
Cool Company (NYSE: CLCO / CLCO.OL) has announced its First Half 2024 Earnings call and webcast presentation, scheduled for Thursday, August 29, 2024, at 8:00 A.M. New York / 2:00 P.M. Oslo / 1:00 P.M. London. The presentation will be available for download from the company's website. Participants are encouraged to join via the listen-only live webcast link. Sell-side analysts can ask questions during the Q&A session through teleconference dial-in options. The company recommends connecting 10 minutes before the scheduled start time. A replay of the event audio will be available on-demand for one year after the call.
Cool Company has announced that its shares will trade ex-dividend for the first quarter of 2024. The ex-dividend date is set for May 30, 2024, on the Oslo Stock Exchange (OSE) and May 31, 2024, on the New York Stock Exchange (NYSE). Shareholders will receive a dividend payout of $0.41 per share. This announcement complies with Section 5-12 of the Norwegian Securities Trading Act.
More details can be found on businesswire.com or by contacting the company's Investor Relations.
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