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Avance Gas Holding Ltd (GB:0QTX)
LSE:0QTX
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Earnings Data
Report Date
Feb 28, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
kr2.43Last Year’s EPS
kr0.76Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 27, 2024
|% Change Since: 11.83%
|Next Earnings Date:Feb 28, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with significant dividends and profitable asset sales. However, there are concerns about a softening market and increased terminal fees affecting future profitability. Despite these challenges, the company's strategic asset sales and improved financial position provide a positive outlook.Company Guidance
During Avance Gas' Q3 2024 earnings call, significant guidance was provided regarding financial performance and future plans. The company announced an impressive dividend of $3.50 per share, amounting to $268 million, significantly increasing from previous quarters. This represents a payout ratio of around 10 times earnings. The company's net profit for the quarter was $25.8 million, equating to $0.34 earnings per share, based solely on freight income. They reported TCE earnings of $46 million, with a TCE per day of $41,900, approximately twice their cash breakeven. The company achieved a year-to-date TCE of $56,000 per day, up from $52,000 the previous year. With the sale of their VLGC fleet to BW and MGC fleet to Exmar, Avance Gas plans to distribute most of the $490 million in gains to shareholders, along with BW shares, as part of winding down operations. The call highlighted the strategic decision to capitalize on attractive interest rates and the current market environment, with a focus on distributing cash and assets to shareholders while minimizing operational costs.Significant Dividend Payout
Avance Gas announced a dividend of $3.50 per share for Q3, totaling $268 million, reflecting a payout ratio of around 10x earnings.
Profitable Sale of MGCs
Avance Gas sold four MGCs to Exmar for $282.4 million, booking a gain of $34 million.
Strong Financial Performance
Net profit for Q3 was $25.8 million, with earnings per share of $0.34, excluding any gains from sales. TCE earnings were $46 million with TCE per day at $41,900.
BW Shares Acquisition
The company expects to become the second biggest shareholder in BW with a 12.88% shareholding, receiving 19.3 million BW shares valued around $250 million.
Debt-Free Status Achieved
By year-end, Avance Gas will have no debt, having already novated $155 million of outstanding debt.
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GB:0QTX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GB:0QTX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 27, 2024 | kr68.67 | kr73.24 | +6.64% |
| Aug 28, 2024 | kr72.90 | kr72.57 | -0.45% |
| May 15, 2024 | kr89.82 | kr97.89 | +8.98% |
| Feb 14, 2024 | kr61.72 | kr66.12 | +7.13% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Avance Gas Holding Ltd (GB:0QTX) report earnings?
Avance Gas Holding Ltd (GB:0QTX) is schdueled to report earning on Feb 28, 2025, TBA Not Confirmed.
What is Avance Gas Holding Ltd (GB:0QTX) earnings time?
Avance Gas Holding Ltd (GB:0QTX) earnings time is at Feb 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Avance Gas Holding Ltd stock?
The P/E ratio of Avance Gas Holding is 1.9.
What is GB:0QTX EPS forecast?
GB:0QTX EPS forecast for the fiscal quarter 2024 (Q4) is kr2.43.
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