Why Venture Global Rocketed Higher on Monday
Shares of Venture Global (NYSE: VG) rallied 16.6% on Monday, as of 12:18 p.m. EDT.
Venture Global reported an earnings beat this morning, but, ironically, that likely only played a minor role in the day's move. Instead, as a U.S.-based liquefied natural gas (LNG) exporter, Venture Global is set to benefit from higher LNG prices, which spiked this morning following the commencement of the war with Iran this past weekend.
This morning, Venture Global reported Q4 earnings, which showed 192.8% revenue growth to $4.45 billion, in line with expectations, while earnings per share were up 24.2% to $0.41, beating expectations. While EPS growth was much lower than revenue growth, the figure was heavily affected by a smaller gain on interest rate swaps than in the previous-year quarter. Profitability as measured by operating income was up 189%, roughly in line with revenue growth.
Source Fool.com
