Golar LNG explores potential sale or merger as Q1 revenue surges 120%
Golar LNG (NASDAQ:GLNG) announced a major acceleration in its first-quarter 2026 financial results, highlighted by a multi-fold increase in profitability.
Alongside the earnings release, the company revealed it has initiated a formal strategic review, appointing Goldman Sachs to evaluate corporate options, including a potential sale, merger, asset divestitures, or broader structural reorganizations.
For the three months ended March 31, 2026, Golar reported total operating revenues of $138 million, representing a 120% increase compared to the same period in 2025.
Net income attributable to the company experienced an even sharper trajectory, climbing 920% year-over-year to reach $84 million.
Adjusted EBITDA for the quarter rose to $106 million, while total liquid corporate cash stood at $1 billion at the close of the period.
The board declared a quarterly cash dividend of $0.25 per share, scheduled for payment on June 10, 2026, to shareholders of record as of June 1, 2026.
Operational developments across Golar’s core Floating Liquefied Natural Gas (FLNG) fleet supported the top-line performance.
The FLNG Hilli successfully offloaded its 150th commercial cargo and finalized a 20-year deployment contract in Argentina.
The South American project is projected to generate $285 million in annual baseline adjusted EBITDA for Golar, with additional upside tied to international commodity price fluctuations.
Concurrently, the FLNG Gimi invoiced an operational daily rate tracking 19% above its baseline contract specifications.
The company's long-term infrastructure pipeline showed steady progress.
Golar's MKII FLNG conversion project—a 3.5 million tons per annum (MTPA) capability expansion—remains on schedule and has been funded entirely through corporate equity to date.
The asset is expected to anchor an estimated $8 billion adjusted EBITDA backlog over its 20-year operational lifespan.
Looking forward, Golar is targeting a formal construction order for a fourth FLNG vessel within the calendar year 2026.