Stabilis Solutions Pre-Announces Record Quarterly Revenue and LNG Deliveries
20 Abril 2021 - 6:30AM
Stabilis Solutions, Inc., (“Stabilis” or the “Company”) (OTCQX:
SLNG) a leading provider of energy transition
services including hydrogen and liquefied natural gas (“LNG”)
fueling solutions, today announced record preliminary first quarter
2021 revenues in the range of $17.5 million to $17.8 million. This
revenue range is a 29% to 30% increase compared to $13.7 million in
the fourth quarter of 2020 and a 26% to 29% increase compared to
$13.8 million in the first quarter of 2020. The first
quarter of 2020 was the Company’s previous record revenue quarter.
Stabilis delivered 13.4 million gallons of LNG
during the quarter, a 29% increase compared to the fourth quarter
of 2020 and a 12% increase compared to the first quarter of
2020.
“Stabilis is proud to report record revenues for
the quarter, beating our prior record quarter, the first quarter of
2020, by well over 25%,” said Jim Reddinger, Stabilis Solutions’
President and Chief Executive Officer. “The energy transition is
underway and Stabilis’ position as a premier supplier of clean LNG
and hydrogen fueling solutions is driving significant growth. We
believe that this trend will continue into the remainder of 2021
and beyond.”
The year-over-year revenue increase was largely
driven by broad-based growth including growth in power generation
projects, continued expansion of the Company’s Mexico operations,
and increased activity with aerospace customers.
These preliminary results are subject to the
completion of the customary quarterly closing and review process
and may be subject to change. See Cautionary Statement Regarding
Preliminary Estimated Results below.
Earnings Release and Conference Call
Information
Stabilis will issue its first quarter 2021 earnings
release on Wednesday, May 5, 2021, after the close of trading. The
Company will host a conference call on Thursday, May 6, 2021, at
10:00 a.m. eastern time (9:00 a.m. central). Individuals in the
United States and Canada who wish to participate in the conference
call can access the live webcast at
https://www.webcaster4.com/Webcast/Page/2256/40949 or dial +1
888-545-0320; passcode 225377. International callers should dial +1
973-528-0016; passcode 225377. A replay of the call will be
available until May 19, 2021. Individuals in the United States and
Canada who wish to listen to the replay should dial +1
877-481-4010; passcode 40949. International callers should dial +1
919-882-2331; passcode 40949. A replay of the call also will be
available on the Stabilis website (www.stabilis-solutions.com).
About Stabilis
Stabilis Solutions, Inc. is a vertically integrated
energy transition company that provides clean energy solutions to
our customers. Our solutions include small-scale liquefied natural
gas (“LNG”) production, distribution and fueling services to
multiple end markets in North America. Stabilis also provides
hydrogen fueling services to its customers. Stabilis has safely
delivered over 250 million gallons of LNG through more than 25,000
truck deliveries during its 16-year operating history in the LNG
industry, which we believe makes us one of the largest and most
experienced small-scale LNG providers in North America. Stabilis’
customers use LNG and hydrogen as a fuel sources in a variety of
applications in the industrial, energy, mining, utilities and
pipelines, commercial, and high horsepower transportation markets.
Stabilis’ customers use LNG and hydrogen as alternatives to
traditional fuel sources, such as distillate fuel oil and propane,
to lower fuel costs and reduce harmful environmental emissions.
Stabilis’ customers also use LNG as a “virtual pipeline” solution
when natural gas pipelines are not available or volumes are
curtailed. To learn more, visit
www.stabilis-solutions.com.
Cautionary Statement Regarding Preliminary
Estimated Results
The Company has prepared the preliminary financial
information set forth above on a materially consistent basis with
its historical financial information and in good faith based upon
its internal reporting for the three months ended March 31, 2021.
This financial information is preliminary and unaudited and is thus
subject to change as the Company finalizes its financial results
for quarter ended March 31, 2021. The Company is in the process of
completing its customary quarterly close and review and there can
be no assurance that its final results for this period will not
differ from this preliminary financial information. During the
course of the preparation of the Company’s consolidated financial
statements and related notes as of and for the period, the Company
may identify items that could cause its final reported results to
be materially different from the preliminary financial information
set forth above. This preliminary financial information should not
be viewed as a substitute for full financial statements prepared in
accordance with GAAP. In addition, this preliminary financial
information for the three months ended March 31, 2021 is not
necessarily indicative of the results to be achieved for any future
period. This preliminary financial information has been prepared by
and is the responsibility of management. In addition, the
preliminary financial information presented above has not been
audited, reviewed, or compiled by the Company’s independent
registered public accounting firm.
Cautionary Statement Regarding
Forward-Looking Statements
This press release includes "forward-looking
statements" within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995 and within
the meaning of Section 27a of the Securities Act of 1933, as
amended, and Section 21e of the Securities Exchange Act of 1934, as
amended with regard to our anticipated future growth and outlook.
Our actual results may differ from expectations, estimates and
projections presented or implied herein and, consequently, you
should not rely on these forward-looking statements as predictions
of future events.
Such forward-looking statements relate to future
events or future performance, but reflect management’s current
beliefs, based on information currently available. Most of these
factors are outside management’s control and are difficult to
predict. A number of factors could cause actual events, performance
or results to differ materially from the events, performance and
results discussed in the forward-looking statements. Factors that
may cause such differences include, among other things: the future
performance of Stabilis, future demand for and price of LNG,
availability and price of natural gas, unexpected costs, and
general economic conditions.
The foregoing list of factors is not exclusive.
Additional information concerning these and other risk factors is
contained in in our quarterly reports on Form 10‐Q and annual
reports on Form 10‐K, which are available on the SEC’s website at
www.sec.gov or in the Investor Center on our website at
www.stabilis-solutions.com. All subsequent written and oral
forward-looking statements concerning Stabilis, or other matters
attributable to Stabilis, or any person acting on its behalf are
expressly qualified in their entirety by the cautionary statements
above. Readers are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date
made.
Stabilis does not undertake or accept any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement to reflect any change in
their expectations or any change in events, conditions or
circumstances on which any such statement is based, except as
required by law.
# # # # #
Investor Contact:
Rich Cockrell
CG Capital
877.889.1972
SLNG@cg.capital
Andrew Puhala:
Chief Financial Officer
832-456-6500
ir@stabilis-solutions.com
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