Cheniere Energy Partners Reports Lower Profit, Revenue For Q1

(RTTNews) - Cheniere Energy Partners, L.P. (CQP) Friday reported net income of $682 million or $1.18 per share for the first quarter, significantly lower than $1.935 billion or $3.50 per share in the same quarter a year ago, primarily impacted by an unfavorable change in fair value of derivative instruments.

The company had a gain from changes in fair value of commodity derivatives of $43 million in the latest quarter, compared with $1.270 billion in the previous-year period.

Revenue for the quarter declined to $2.295 billion from $2.917 billion in the previous year.

On average, 11 analysts polled by Thomson-Reuters expected the company to report earnings of $0.97 per share on revenue of $2.21 billion for the quarter. Analysts' estimates typically exclude special items.

For the full-year, the company has reaffirmed its distribution guidance of $3.15 - $3.35 per common unit.