Stabilis Solutions reports developments in small-scale LNG production, storage, transportation, fueling and last-mile delivery for customers in marine, aerospace, industrial, power generation and utility markets. Its updates center on operating results, LNG sales and delivery activity, cryogenic equipment rentals, engineering and field support services, and customer demand across the United States and Mexico.
Company news also covers long-term LNG supply agreements, marine bunkering activity at Gulf Coast ports, behind-the-meter power generation for data centers, and development work tied to the proposed Galveston LNG liquefaction and bunkering project.
Stabilis Solutions has secured three long-term LNG sales contracts, covering up to 40% capacity of its Texas LNG production plant. This move is expected to push plant utilization towards 100% starting in 2021. The contracts serve customers in infrastructure and mining sectors, enhancing Stabilis' revenue and profitability opportunities. After a brief slowdown in 2020, the company reported record sales in Q4, indicating a strong recovery. Stabilis' partnerships across North America ensure a reliable LNG supply, positioning the company favorably in the market.
Stabilis Solutions reported a record fourth quarter revenue of $13.7 million, a 52% increase from Q3 2020 and a 10% increase year-over-year. The surge was driven by increased customer activity post-pandemic and the addition of new clients. The LNG segment contributed $12.1 million, with a 57% sequential increase. Adjusted EBITDA reached $2.3 million, or 17% of revenue. The net loss narrowed to ($0.1 million) from ($2.1 million) in Q3 2020. Annual revenue for 2020 was $41.6 million, down from $47.1 million in 2019, due to pandemic impacts.
Stabilis Solutions (OTCQX:SLNG) will release its fourth quarter and full year 2020 financial results on March 10, 2021, after market close. A conference call is scheduled for March 11, 2021, at 10:00 AM ET. Participants can join the call via telephone or through a live audio webcast. The company has a strong background in providing clean energy solutions, having delivered over 250 million gallons of LNG through 25,000 truck deliveries in its 16-year history. With its focus on LNG and hydrogen, Stabilis supports various industries in reducing fuel costs and emissions.
Stabilis Solutions (OTCQX:SLNG) is providing liquified natural gas (LNG) and equipment to 10 locations across multiple states, helping over 100,000 households during recent winter storms. The company emphasizes its role in delivering clean, reliable energy when traditional sources are disrupted. Stabilis has utilized over 50 pieces of mobile cryogenic equipment and supports its customers with 25 trained staff. With a history of over 250 million gallons of LNG delivered, Stabilis aims to aid the energy transition by reducing emissions and ensuring energy reliability.
Stabilis Solutions (SLNG) anticipates fourth quarter 2020 revenues between $13.5 million and $13.8 million, marking the second-highest quarterly revenue in its history. This represents a 50% to 53% increase from the prior quarter and an 8% to 11% rise year-over-year. The growth is attributed to rising power generation projects, expansion in Mexico, and improving economic conditions, despite COVID-19 challenges. The full earnings release is scheduled for March 10, 2021, followed by a conference call on March 11, 2021.
Stabilis Solutions (OTCQX:SLNG) will announce its third quarter 2020 financial results on November 11, 2020, after market close. A conference call is scheduled for November 12, 2020, at 10:00 a.m. EST. Participants can join via phone or a live audio webcast. The company, a major player in liquefied natural gas (LNG) production and distribution in North America, has delivered over 200 million gallons of LNG in its 15-year history, catering to various industries looking to reduce fuel costs and emissions.
Stabilis Energy, Inc. has officially rebranded as Stabilis Solutions, Inc., as approved at the 2020 Annual Meeting of Stockholders. This change reflects a broader strategy to enhance its market identity. The company, which trades under the symbol SLNG, aims to better communicate its offerings in distributed natural gas fuel and power solutions across North America. Stabilis has a 15-year history in the LNG industry, delivering over 200 million gallons. The new brand emphasizes sustainable energy solutions that help clients reduce costs and environmental impacts.