Why Venture Global Rallied Today
Shares of Venture Global (NYSE: VG) rallied 9.8% on Wednesday as of 1:55 p.m. ET. The liquefied natural gas export company, which is building several export terminals on the U.S. Gulf Coast, reported its second-quarter earnings last night.
Results were solid and above expectations. But on top of that, the company also announced it had won an important arbitration case brought by a large customer, removing a risk that was potentially overhanging the stock.
In the second quarter, Venture Global saw revenue of $3.1 billion, up 180% year over year, along with adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $1.39 billion, up 217%. Both figures came in ahead of analyst expectations.
Source Fool.com
