Cheniere Energy, Inc. (LNG) reported a second-quarter net loss of $73.0 million, or $0.43 per share, compared to a net loss of $47.2 million, or $0.67 per share in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.
Results include significant items of $35.7 million, or $0.21 per share, for the second-ended June 30, 2012 related to LNG terminal and pipeline development expenses primarily for the Sabine Pass Liquefaction Project currently under development and for losses due to the early extinguishment of debt incurred in both periods.
Total revenues for the quarter declined to $62.33 million from $72.81 million in the prior year quarter. Two analysts had consensus revenue estimate of $74.50 million for the quarter.
LNG exports from the Sabine Pass LNG terminal are anticipated to commence as early as 2015, with the second liquefaction train commencing operations approximately six to nine months thereafter.
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