Revenue
$1.5 billiondecreased 7% from $1.6 billion in Q4 FY23
Q4 FY24
Our top line revenue was $1.5 billion for the fourth quarter of 2024... a $108 million and a 7% decline, respectively, from $1.6 billion... during the equivalent periods in 2023.
Revenue
$5 billiondecreased 37% from $7.9 billion in FY23
FY24
bringing our full year 2024 revenue... totals to $5 billion... a $2.9 billion decrease or a 37% decline, respectively, from... $7.9 billion during the equivalent periods in 2023.
Net income attributable to common stockholders
$871 millionincreased $921 million from a loss of $50 million in Q4 FY23
Q4 FY24
Our net income attributable to common stockholders was $871 million for the fourth quarter of 2024... a $921 million increase... from a loss of $50 million... during the fourth quarter... of 2023
Net income attributable to common stockholders
$1.5 billiondecreased $1.2 billion from $2.7 billion in FY23
FY24
Our net income attributable to common stockholders was... $1.5 billion for the full year... a $1.2 billion decrease from... $2.7 billion during the... full year of 2023
Consolidated adjusted EBITDA
$688 milliondecreased 15% from $813 million in Q4 FY23
Q4 FY24
consolidated adjusted EBITDA... $688 million... a $125 million and 15% decline, respectively, from $813 million... during the equivalent period in 2023.
Consolidated adjusted EBITDA
$2.1 billiondecreased 59% from $5.2 billion in FY23
FY24
consolidated adjusted EBITDA... $2.1 billion for the full year, a $3.1 billion decrease or a 59% decline, respectively, from... $5.2 billion during the equivalent period in 2023.
Assets on balance sheet
$43 billion
FY24
finished 2024 with over $43 billion of assets on our balance sheet
Return on equity
41.3%
FY24
realized a return on equity of 41.3%.
Calcasieu Pass commissioning cargoes exported
32
Q4 FY24
At Calcasieu Pass, we exported 32 commissioning cargoes during the fourth quarter
Calcasieu Pass commissioning cargoes exported
140
FY24
resulting in 140 commissioning cargoes in total for 2024
Plaquemines liquefaction trains producing during construction
16
Q4 FY24
another 16 trains producing during construction at Plaquemines
Plaquemines liquefaction trains installed
16
Q4 FY24
we have installed 16 more trains on their foundations at Plaquemines
CP2 liquefaction trains with purchase orders
36
Q4 FY24
we have executed purchase orders for another 36 trains, of which 12 are already being fabricated
Total liquefaction trains (commissioned or producing during construction)
54from 18 trains currently
end of 2025
by the end of 2025, we expect to have 54 trains either commissioned at Calcasieu Pass or producing during construction at Plaquemines
Total liquefaction trains (fabricated and ready for installation)
16
end of 2025
with another 16 trains fabricated and ready for installation at CP2 subject to FERC authorization
Total aggregate liquefaction trains
70from 18 trains
end of 2025
capping off a rapid expansion from 18 trains to 70 trains in aggregate over the course of just 29 months.
Calcasieu Pass weighted average fixed liquefaction fee
$8.79
Q4 FY24
We realized a weighted average fixed liquefaction fee of $8.79 per MMBtu for cargoes in the fourth quarter
Calcasieu Pass weighted average fixed liquefaction fee
$7.28
FY24
and $7.28 per MMBtu across the entire year.
Calcasieu Pass anticipated fully weighted average liquefaction fee
$3.85
FY25
For 2025, based on liquefaction fees achieved via cargoes sold on a forward basis today, we anticipate capturing a fully weighted average liquefaction fee of $3.85 per MMBtu across all forward-sold Calcasieu Pass production.
Calcasieu Pass Total Recordable Incident Rate (TRIR)
0.10outperforming national industry average of 1.9
to date
To date, approximately 25 million work hours have been completed at Calcasieu Pass with only 13 recordable incidents sustained. This performance has produced a total recordable incident rate, TRIR, of 0.10, far outperforming the national industry average of 1.9.
Plaquemines liquefaction trains delivered
34
to date
We have delivered 34 liquefaction trains to the site
Plaquemines liquefaction trains producing LNG during construction
16
to date
and produced LNG from 16 trains during construction to date
Plaquemines production level vs nameplate capacity
140%of nameplate capacity
to date
each of our 16 trains has regularly demonstrated pro rata production levels that equate to approximately 140% of the nameplate capacity of the facility based on aggregate outflow from [ regas ].
Incremental equity invested for Plaquemines construction
$2.8 billion
over course of construction
Over the course of construction, we have invested approximately $2.8 billion of incremental equity to fund these expanded work fronts and mitigate delays.
Plaquemines cargoes contracted
78
FY25
and have contracted 78 of these cargoes thus far
Plaquemines weighted average fixed liquefaction fee (contracted)
$7.94
FY25
capturing a weighted average fixed liquefaction fee of $7.94 per MMBtu.
Plaquemines Total Recordable Incident Rate (TRIR)
0.20roughly 1/10 of national average TRIR of 1.9
to date
To date, over 50 million work hours have been completed at the project with a TRIR of only 0.20, roughly 1/10 of the national average TRIR of 1.9.
CP2 nameplate capacity
20
projected
CP2 is a 20 million tonne per annum nameplate capacity facility consisting of 36 of our factory-built liquefaction trains.
CP2 expected production capacity
28at least
projected
we believe CP2 will produce at least 28 MTPA.
CP2 estimated commissioning cargoes exported
550
during construction
we currently estimate approximately 550 cargoes will be exported during the construction of the facility across the commissioning programs of the project's 2 phases
Capital deployed for CP2
$4 billion
thus far
We have deployed over $4 billion thus far with our key equipment suppliers and contractors for CP2
Plaquemines Phase 3 expansion export capacity
18.6
projected
Phase 3 expansion configuration consisting of 24 liquefaction trains and related infrastructure, which we expect to provide 18.6 MTPA of export capacity.
Contracted nameplate production capacity
100%
current
100% of the nameplate production capacity of Calcasieu Pass and Plaquemines is contracted.
Contracted nameplate capacity across first 3 projects
39.25out of 50 MTPA total
current
Including CP2, 39.25 of 50 MTPA of the nameplate capacity of our first 3 projects is contracted at an average tenor of slightly under 20 years
Illustrative total contracted revenue
$100 billion
long-term
representing over $100 billion of illustrative total contracted revenue.
Revenue decrease driver - lower fees (liquefaction and commodity)
$2.8 billiondecrease
FY24
This decrease in revenue year-over-year was driven by: one, lower weighted average fixed liquefaction fees of $7.28 per MMBtu versus $12.23 per MMBtu and lower natural gas commodity fees of $2.61 per MMBtu versus $3.20 per MMBtu, resulting in a decrease of $2.8 billion
Revenue decrease driver - lower LNG sales volumes
$139 milliondecrease
FY24
two, lower LNG sales volumes of 501 TBtus versus 510 TBtus, resulting in an additional decrease of $139 million.
Commissioning cargoes exported
33declined from 40 in Q4 2023
Q4
we exported a total of 33 commissioning cargoes in Q4... which declined from 40... compared with the same periods in 2023.
Commissioning cargoes exported
141declined from 143 in FY23
FY24
and 141 commissioning cargoes over the entire year, which declined from... 143, respectively, compared with the same periods in 2023.
LNG sales volumes reflected in results
128
Q4 FY24
Of these cargoes, 128 TBtu of volumes are reflected in our results for Q4
LNG sales volumes reflected in results
501
FY24
and 501 TBtu of volumes are reflected in the full year 2024 figures.
Consolidated adjusted EBITDA sensitivity to liquefaction fee
$625 million to $675 millionper $1/MMBtu change
FY25
On average, if fixed liquefaction fees over 2025 increased or decreased by $1 per MMBtu, we expect our consolidated adjusted EBITDA range to adjust accordingly by between $625 million and $675 million.
O&M cost per MMBtu
$0.50 to $0.70
ongoing
O&M, which is generally $0.50 to $0.70 per MMBtu depending on the facility.
Contribution margin per MMBtu
$7.50 to $7.70
current market
contribution margin between $7.50 to $7.70. And that's ultimately what is factored into our EBITDA guidance.
Calcasieu Pass weighted average fixed liquefaction fee
$8.97
FY25 YTD
For 2025, thus far there, we've achieved $8.97 per MMBtu margins with the initiation of first LNG and then the ramp-up