Cool Company Ltd (CLCO) has released an update.
Cool Company Ltd reported a net income of $36.81 million in Q1 2024, an increase from $22.41 million in the previous quarter, despite a decrease in operating revenues from $97.1 million in Q4 2023 to $88.1 million in Q1 2024. The company secured a significant 14-year charter and upsized its term loan facility, strengthening its financial position and future prospects. Additionally, CoolCo declared a quarterly dividend of $0.41 per share, signaling confidence in its stable financial status and long-term charter commitments.
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