Stabilis Solutions Reports Third Quarter 2023 Results
Stabilis Solutions Reports Third Quarter 2023 Results
HOUSTON, TX / ACCESSWIRE / November 8, 2023 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (NASDAQ:SLNG), a leading provider of clean energy production, storage, and delivery solutions, today announced results for the third quarter ended September 30, 2023.
德克薩斯州休斯敦/ACCESSWIRE/2023 年 11 月 8 日 / 清潔能源生產、存儲和交付解決方案的領先提供商斯泰必里斯解決方案公司（“Stabilis” 或 “公司”）（納斯達克股票代碼：SLNG）今天公佈了截至2023年9月30日的第三季度業績。
RECENT PERFORMANCE HIGHLIGHTS
最近的業績亮點
● |
Announced new multi-year marine LNG bunkering contract with Carnival Corporation in October 2023 |
● |
2023 年 10 月宣佈與嘉年華公司簽訂新的爲期多年的船用液化天然氣加註合同 |
● |
Finalized purchase of key components for a new 100,000 gallon per day LNG liquefaction train |
● |
完成了對新的每日 100,000 加侖液化天然氣液化列車關鍵部件的購買 |
● |
Delivered quarter-over-quarter revenue growth of 19% |
● |
實現了19％的季度收入同比增長 |
● |
Generated third quarter Adjusted EBITDA of $0.5 million |
● |
第三季度調整後息稅折舊攤銷前利潤爲50萬美元 |
● |
More than $8 million in cash and available liquidity to support ongoing strategic growth initiatives |
● |
超過800萬美元的現金和可用流動性，用於支持正在進行的戰略增長計劃 |
MANAGEMENT COMMENTARY
管理層評論
"We delivered third quarter results in-line with our expectations, while continuing to advance a series of strategic and operational priorities that position us for long-term profitable growth," stated Westy Ballard, President and CEO. "As a result of these efforts, we announced a significant, multi-year bunkering contract with Carnival Corporation. This new contract is an important validation of our marine strategy as we seek to develop the leading LNG bunkering solutions platform with partnering ports across the United States."
總裁兼首席執行官韋斯蒂·巴拉德表示：“我們公佈的第三季度業績符合我們的預期，同時繼續推進一系列戰略和運營優先事項，使我們能夠實現長期盈利增長。”“由於這些努力，我們宣佈與嘉年華公司簽訂一份爲期多年的重要燃料供應合同。這份新合同是對我們海洋戰略的重要驗證，因爲我們正在尋求與美國各地的合作港口開發領先的液化天然氣加註解決方案平台。”
STRATEGIC AND OPERATIONAL UPDATE
戰略和行動最新情況
| ● | Advanced LNG marine bunkering strategy. In October 2023, Stabilis was awarded a multi-year marine bunkering contract to provide LNG fuel and related services to the Carnival Jubilee, the newest addition to the Carnival Cruise Line fleet, which is scheduled to set sail from Galveston, Texas beginning in December 2023. Under the contract, Stabilis will supply project management and permitting, field personnel, waterside infrastructure and logistics services in addition to LNG deliveries on a firm, ratable basis, initially from its owned liquefaction facility in Texas over the two-year contract, with an option to extend the contract for up to an additional two years at the request of Carnival Corporation. Stabilis remains actively engaged in discussions with numerous vessel operators as they continue to evaluate their fuel supply for future LNG-fueled vessels coming into service. |
| ● | 先進的液化天然氣船用加註策略。 2023 年 10 月，Stabilis 獲得了一份爲期多年的海上加油合同，向船舶提供液化天然氣燃料和相關服務 狂歡節禧年， 嘉年華郵輪公司船隊的最新成員，計劃於 2023 年 12 月開始從德克薩斯州的加爾維斯頓啓航。根據合同，Stabilis將在爲期兩年的合同中提供項目管理和許可、現場人員、水邊基礎設施和物流服務以及液化天然氣，最初從其位於德克薩斯州的自有液化設施交付，並可以選擇將合同再延長兩年。Stabilis將繼續積極參與與衆多船舶運營商的討論，因爲他們將繼續評估未來投入使用的液化天然氣燃料船舶的燃料供應。 |
| ● | Completed procurement of major components for a second, 100,000 gallons per day (GPD) liquefaction train. When placed into service, the liquefaction train is designed to increase Stabilis' total liquefaction capacity from 130,000 GPD to 230,000 GPD. Stabilis is currently evaluating several potential locations for the new train, as the additional liquefaction capacity is intended to support customer demand from within the LNG marine bunkering market. |
| ● | 完成了第二輛每日 100,000 加侖 (GPD) 液化列車主要部件的採購。 投入使用後，液化列車旨在將斯泰必利斯的總液化能力從13萬加侖/日提高到23萬加侖/日。Stabilis目前正在評估新列車的幾個潛在地點，因爲額外的液化能力旨在支持來自液化天然氣船用加註市場的客戶需求。 |
| ● | Enhanced processing capabilities at Texas liquefaction facility. In August 2023, Stabilis completed plant modifications and enhancements to address feed gas composition changes at its Texas liquefaction facility. The gas composition changes at the facility had an estimated Adjusted EBITDA impact of ($1.3) million during the third quarter and ($3.2) million on a year-to-date basis through September 30, 2023. |
| ● | 增強德克薩斯液化設施的處理能力。 2023 年 8 月，Stabilis 完成了工廠改造和改進，以解決其德克薩斯液化設施原料氣成分的變化。據估計，該設施的天然氣成分變化在第三季度對調整後的息稅折舊攤銷前利潤的影響爲（130萬美元），截至2023年9月30日，年初至今的影響爲320萬美元。 |
| ● | Disciplined capital management supports balance sheet optimization. On a year-to-date basis, Stabilis generated $5.4 million in operating cash flow, and invested $9 million in primarily expansion-focused capital projects, including a 100,000 GPD liquefaction train, George West facility upgrades and cryogenic rolling stock. As of September 30, 2023, the company had $8.6 million of total cash and liquidity and a ratio of net debt to trailing-twelve month Adjusted EBITDA of 0.7x. |
| ● | 紀律嚴明的資本管理支持資產負債表優化。 年初至今，Stabilis創造了540萬美元的運營現金流，並向主要以擴張爲重點的資本項目投資了900萬美元，包括一輛100,000GPD液化列車、喬治·韋斯特設施升級和低溫機車車輛。截至2023年9月30日，該公司的現金和流動性總額爲860萬美元，淨負債與過去十二個月調整後息稅折舊攤銷前利潤的比率爲0.7倍。 |
THIRD QUARTER 2023 CONFERENCE CALL AND WEBCAST
2023 年第三季度電話會議和網絡直播
Stabilis will host a conference call on Thursday, November 9, 2023 at 9:00 a.m. ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.
Stabilis將於美國東部時間2023年11月9日星期四上午9點舉行電話會議，審查公司的財務業績，討論最近發生的事件並進行問答環節。
A webcast of the conference call will be available in the Investor Relations section of the Company's corporate website at To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.
電話會議的網絡直播將在公司網站的 “投資者關係” 部分提供，網址爲：要收聽直播，請在預定開始時間前至少15分鐘訪問該網站，以便註冊、下載和安裝任何必要的音頻軟件。
To participate in the live teleconference:
要參加直播電話會議，請執行以下操作：
Domestic Live: 800-445-7795
國內直播： 800-445-7795
International Live: 785-424-1699
國際直播： 785-424-1699
Conference ID: SLNGQ323
會議編號： SLNGQ323
To listen to a replay of the teleconference, which will be available through November 16, 2023:
要收聽電話會議的重播，該會議將持續到 2023 年 11 月 16 日：
Domestic Live: 888-274-8337
國內直播： 888-274-8337
International Live: 402-220-2329
國際直播： 402-220-2329
ABOUT STABILIS SOLUTIONS
關於穩定解決方案
Stabilis Solutions, Inc. is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets. To learn more, visit .
Stabilis Solutions, Inc. 是爲多個終端市場提供清潔能源生產、存儲和交付解決方案的領先提供商。要了解更多信息，請訪問。
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
關於前瞻性陳述的警示性陳述
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. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "can," "believes," "feels," "anticipates," "expects," "could," "will," "plan," "may," "should," "predicts," "potential," "outlook" and similar expressions are intended to identify such forward-looking statements.
本新聞稿包括1995年《美國私人證券訴訟改革法》安全港條款所指的 “前瞻性陳述”，以及經修訂的1933年《證券法》第27a條和經修訂的1934年《證券交易法》第21e條所指的 “前瞻性陳述”。任何實際結果都可能與所陳述或暗示的預期、估計和預測有所不同，因此，您不應依賴這些前瞻性陳述來預測未來事件。諸如 “可以”、“相信”、“感覺”、“預期”、“期望”、“可能”、“將”、“計劃”、“可能”、“應該”、“預測”、“潛力”、“展望” 等詞語旨在識別此類前瞻性陳述。
Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information currently available. Most of these factors are outside our 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.
根據目前可用的信息，此類前瞻性陳述與未來事件或未來表現有關，但反映了我們目前的信念。這些因素大多超出了我們的控制範圍，難以預測。許多因素可能導致實際事件、業績或業績與前瞻性陳述中討論的事件、業績和結果存在重大差異。可能導致這種差異的因素包括：穩定局的未來表現、液化天然氣的未來需求和價格、天然氣的供應和價格、意想不到的成本以及總體經濟狀況。
The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in the Risk Factors in Item 1A of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2023 which is available on the SEC's website at www.sec.gov or on the Investors section of our website at . 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.
上述因素清單並不是排他性的。有關這些和其他風險因素的其他信息包含在我們於2023年3月9日向美國證券交易委員會提交的10-K表年度報告第1A項中的風險因素中，該報告可在美國證券交易委員會的網站www.sec.gov或我們網站的 “投資者” 部分上查閱。隨後有關Stabilis或歸因於Stabilis或任何代表其行事的人的其他事項的所有書面和口頭前瞻性陳述均受上述警示陳述的明確全部限制。提醒讀者不要過分依賴任何前瞻性陳述，這些陳述僅代表截至發表之日。
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.
除非法律要求，否則Stabilis不承擔或接受任何義務或承諾，即公開發布任何前瞻性陳述的任何更新或修訂，以反映其預期的任何變化或任何此類陳述所依據的事件、條件或情況的任何變化。
Stabilis Solutions, Inc. and Subsidiaries
Selected Consolidated Operating Results
(Unaudited, in thousands, except share and per share data)
Stabilis Solutions, Inc.
精選合併經營業績
（未經審計，以千計，股票和每股數據除外）
| Three Months Ended | Nine Months Ended | |||||||||||||||
|
September 30, 2023 |
June 30, 2023 |
September 30, 2022 |
September 30, 2023 |
September 30, 2022 |
||||||||||||
Revenues: |
||||||||||||||||
Revenues |
$ | 15,316 | $ | 12,907 | $ | 25,819 | $ | 55,065 | $ | 69,236 | ||||||
Operating expenses: |
||||||||||||||||
Cost of revenues |
12,056 | 10,585 | 19,904 | 42,911 | 54,945 | |||||||||||
Change in unrealized loss on natural gas derivatives |
(267 | ) | (224 | ) | (926 | ) | (322 | ) | (27 | ) | ||||||
Selling, general and administrative expenses |
3,002 | 3,043 | 3,658 | 9,424 | 9,643 | |||||||||||
Gain from disposal of fixed assets |
(1,002 | ) | - | 46 | (1,002 | ) | (34 | ) | ||||||||
Depreciation expense |
2,003 | 1,992 | 2,115 | 6,006 | 6,589 | |||||||||||
Total operating expenses |
15,792 | 15,396 | 24,797 | 57,017 | 71,116 | |||||||||||
Income (loss) from operations before equity income |
(476 | ) | (2,489 | ) | 1,022 | (1,952 | ) | (1,880 | ) | |||||||
Net equity income from foreign joint venture operations |
284 | 685 | 114 | 1,314 | 887 | |||||||||||
Income (loss) from operations |
(192 | ) | (1,804 | ) | 1,136 | (638 | ) | (993 | ) | |||||||
Other income (expense): |
||||||||||||||||
Interest income (expense), net |
60 | (147 | ) | (150 | ) | (237 | ) | (437 | ) | |||||||
Interest (expense), net - related parties |
(15 | ) | (24 | ) | (49 | ) | (71 | ) | (129 | ) | ||||||
Other (expense), net |
(3 | ) | (40 | ) | (28 | ) | (127 | ) | (99 | ) | ||||||
Total other income (expense) |
42 | (211 | ) | (227 | ) | (435 | ) | (665 | ) | |||||||
Net income (loss) from continuing operations before income tax expense (benefit) |
(150 | ) | (2,015 | ) | 909 | (1,073 | ) | (1,658 | ) | |||||||
Income tax expense (benefit) |
57 | 159 | (115 | ) | 224 | (248 | ) | |||||||||
Net income (loss) from continuing operations |
(207 | ) | (2,174 | ) | 1,024 | (1,297 | ) | (1,410 | ) | |||||||
Loss from discontinued operations, net of income tax |
- | - | (1,301 | ) | - | (1,441 | ) | |||||||||
Net loss |
$ | (207 | ) | $ | (2,174 | ) | $ | (277 | ) | $ | (1,297 | ) | $ | (2,851 | ) | |
Net income (loss) per common share: |
||||||||||||||||
Basic net income (loss) per common share from continuing operations |
$ | (0.01 | ) | $ | (0.12 | ) | $ | 0.06 | $ | (0.07 | ) | $ | (0.08 | ) | ||
Basic loss per common share from discontinued operations |
$ | - | $ | - | $ | (0.08 | ) | $ | - | $ | (0.08 | ) | ||||
Basic net income (loss) per common share |
$ | (0.01 | ) | $ | (0.12 | ) | $ | (0.02 | ) | $ | (0.07 | ) | $ | (0.16 | ) | |
Diluted net income (loss) per common share from continuing operations |
$ | (0.01 | ) | $ | (0.12 | ) | $ | 0.06 | $ | (0.07 | ) | $ | (0.08 | ) | ||
Diluted loss per common share from discontinued operations |
$ | - | $ | - | $ | (0.07 | ) | $ | - | $ | (0.08 | ) | ||||
Diluted net income (loss) per common share |
$ | (0.01 | ) | $ | (0.12 | ) | $ | (0.01 | ) | $ | (0.07 | ) | $ | (0.16 | ) | |
EBITDA |
$ | 1,808 | $ | 148 | $ | 3,223 | $ | 5,241 | $ | 5,497 | ||||||
Adjusted EBITDA |
$ | 539 | $ | (76 | ) | $ | 2,297 | $ | 3,917 | $ | 5,698 | |||||
| 三個月已結束 | 九個月已結束 | |||||||||||||||
|
9月30日 2023 |
6月30日 2023 |
9月30日 2022 |
9月30日 2023 |
9月30日 2022 |
||||||||||||
收入： |
||||||||||||||||
收入 |
$ | 15,316 | $ | 12,907 | $ | 25,819 | $ | 55,065 | $ | 69,236 | ||||||
運營費用： |
||||||||||||||||
收入成本 |
12,056 | 10,585 | 19,904 | 42,911 | 54,945 | |||||||||||
天然氣衍生品未實現虧損的變化 |
(267) | ) | (224 | ) | (926) | ) | (322) | ) | (27) | ) | ||||||
銷售、一般和管理費用 |
3,002 | 3,043 | 3,658 | 9,424 | 9,643 | |||||||||||
處置固定資產的收益 |
(1,002 | ) | - | 46 | (1,002 | ) | (34) | ) | ||||||||
折舊費用 |
2,003 | 1,992 | 2,115 | 6,006 | 6,589 | |||||||||||
運營費用總額 |
15,792 | 15,396 | 24,797 | 57,017 | 71,116 | |||||||||||
扣除權益收益前的經營收益（虧損） |
(476) | ) | (2,489 | ) | 1,022 | (1,952 | ) | (1,880 | ) | |||||||
來自外國合資企業業務的淨股權收益 |
284 | 685 | 114 | 1,314 | 887 | |||||||||||
運營收入（虧損） |
(192 | ) | (1,804 | ) | 1,136 | (638 | ) | (993 | ) | |||||||
其他收入（支出）： |
||||||||||||||||
利息收入（支出），淨額 |
60 | (147) | ) | (150) | ) | (237) | ) | (437 | ) | |||||||
利息（支出），淨關聯方 |
(15) | ) | (24) | ) | (49 | ) | (71 | ) | (129) | ) | ||||||
其他（費用），淨額 |
(3) | ) | (40 | ) | (28) | ) | (127) | ) | (99 | ) | ||||||
其他收入總額（支出） |
42 | (211) | ) | (227) | ) | (435 | ) | (665) | ) | |||||||
扣除所得稅支出（收益）前的持續經營業務淨收益（虧損） |
(150) | ) | (2,015 | ) | 909 | (1,073 | ) | (1,658 | ) | |||||||
所得稅支出（福利） |
57 | 159 | (115) | ) | 224 | (248) | ) | |||||||||
持續經營業務的淨收益（虧損） |
(207) | ) | (2,174 | ) | 1,024 | (1,297) | ) | (1,410 | ) | |||||||
已終止業務的虧損，扣除所得稅 |
- | - | (1,301) | ) | - | (1,441) | ) | |||||||||
淨虧損 |
$ | (207) | ) | $ | (2,174 | ) | $ | (277 | ) | $ | (1,297) | ) | $ | (2,851) | ) | |
普通股每股淨收益（虧損）： |
||||||||||||||||
持續經營業務每股普通股基本淨收益（虧損） |
$ | (0.01 | ) | $ | (0.12) | ) | $ | 0.06 | $ | (0.07 | ) | $ | (0.08) | ) | ||
已終止業務造成的每股普通股基本虧損 |
$ | - | $ | - | $ | (0.08) | ) | $ | - | $ | (0.08) | ) | ||||
普通股每股基本淨收益（虧損） |
$ | (0.01 | ) | $ | (0.12) | ) | $ | (0.02) | ) | $ | (0.07 | ) | $ | (0.16) | ) | |
持續經營業務每股普通股攤薄後淨收益（虧損） |
$ | (0.01 | ) | $ | (0.12) | ) | $ | 0.06 | $ | (0.07 | ) | $ | (0.08) | ) | ||
已終止業務的攤薄後每股普通股虧損 |
$ | - | $ | - | $ | (0.07 | ) | $ | - | $ | (0.08) | ) | ||||
攤薄後的每股普通股淨收益（虧損） |
$ | (0.01 | ) | $ | (0.12) | ) | $ | (0.01 | ) | $ | (0.07 | ) | $ | (0.16) | ) | |
EBITDA |
$ | 1,808 | $ | 148 | $ | 3,223 | $ | 5,241 | $ | 5,497 | ||||||
調整後 EBITDA |
$ | 539 | $ | (76 | ) | $ | 2,297 | $ | 3,917 | $ | 5,698 | |||||
Stabilis Solutions, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except share and per share data)
Stabilis Solutions, Inc.
簡明合併資產負債表
（未經審計，以千計，股票和每股數據除外）
| September 30, | December 31, | |||||||||
| 2023 | 2022 | |||||||||
| Assets | ||||||||||
Current assets: |
||||||||||
Cash and cash equivalents |
$ | 4,914 | $ | 11,451 | ||||||
Accounts receivable, net |
6,135 | 16,326 | ||||||||
Inventories, net |
128 | 205 | ||||||||
Prepaid expenses and other current assets |
3,381 | 2,186 | ||||||||
Assets held for sale |
- | 2,049 | ||||||||
Total current assets |
14,558 | 32,217 | ||||||||
Property, plant and equipment: |
||||||||||
Cost |
109,669 | 103,368 | ||||||||
Less accumulated depreciation |
(59,651 | ) | (55,699 | ) | ||||||
Property, plant and equipment, net |
50,018 | 47,669 | ||||||||
Goodwill |
4,314 | 4,314 | ||||||||
Investments in foreign joint ventures |
11,591 | 11,606 | ||||||||
Right-of-use assets and other noncurrent assets |
602 | 774 | ||||||||
Total assets |
$ | 81,083 | $ | 96,580 | ||||||
| Liabilities and Stockholders' Equity | ||||||||||
Current liabilities: |
||||||||||
Accounts payable |
$ | 2,208 | $ | 4,474 | ||||||
Accrued liabilities |
8,749 | 19,642 | ||||||||
Current portion of long-term notes payable |
1,675 | 848 | ||||||||
Current portion of long-term notes payable - related parties |
622 | 2,435 | ||||||||
Current portion of finance and operating lease obligations |
168 | 133 | ||||||||
Total current liabilities |
13,422 | 27,532 | ||||||||
Long-term notes payable, net of current portion and debt issuance costs |
8,049 | 8,650 | ||||||||
Long-term portion of finance and operating lease obligations |
51 | 183 | ||||||||
Other noncurrent liabilities |
- | 348 | ||||||||
Total liabilities |
21,522 | 36,713 | ||||||||
Commitments and contingencies |
||||||||||
Stockholders' Equity: |
||||||||||
Common stock; $0.001 par value, 37,500,000 shares authorized, 18,573,391 and 18,420,067 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively |
19 | 19 | ||||||||
Additional paid-in capital |
101,670 | 100,137 | ||||||||
Accumulated other comprehensive (loss) income |
(460 | ) | 82 | |||||||
Accumulated deficit |
(41,668 | ) | (40,371 | ) | ||||||
Total stockholders' equity |
59,561 | 59,867 | ||||||||
Total liabilities and stockholders' equity |
$ | 81,083 | $ | 96,580 | ||||||
| 9月30日 | 十二月三十一日 | |||||||||
| 2023 | 2022 | |||||||||
| 資產 | ||||||||||
流動資產： |
||||||||||
現金和現金等價物 |
$ | 4,914 | $ | 11,451 | ||||||
應收賬款，淨額 |
6,135 | 16,326 | ||||||||
庫存，淨額 |
128 | 205 | ||||||||
預付費用和其他流動資產 |
3,381 | 2,186 | ||||||||
持有待售資產 |
- | 2,049 | ||||||||
流動資產總額 |
14,558 | 32,217 | ||||||||
財產、廠房和設備： |
||||||||||
成本 |
109,669 | 103,368 | ||||||||
減去累計折舊 |
(59,651) | ) | (55,699 | ) | ||||||
不動產、廠房和設備，淨額 |
50,018 | 47,669 | ||||||||
善意 |
4,314 | 4,314 | ||||||||
對外國合資企業的投資 |
11,591 | 11,606 | ||||||||
使用權資產和其他非流動資產 |
602 | 774 | ||||||||
總資產 |
$ | 81,083 | $ | 96,580 | ||||||
| 負債和股東權益 | ||||||||||
流動負債： |
||||||||||
應付賬款 |
$ | 2,208 | $ | 4,474 | ||||||
應計負債 |
8,749 | 19,642 | ||||||||
長期應付票據的當期部分 |
1,675 | 848 | ||||||||
長期應付票據的流動部分-關聯方 |
622 | 2,435 | ||||||||
融資和經營租賃債務的當期部分 |
168 | 133 | ||||||||
流動負債總額 |
13,422 | 27,532 | ||||||||
長期應付票據，扣除流動部分和債務發行成本 |
8,049 | 8,650 | ||||||||
融資和經營租賃債務的長期部分 |
51 | 183 | ||||||||
其他非流動負債 |
- | 348 | ||||||||
負債總額 |
21,522 | 36,713 | ||||||||
承付款和意外開支 |
||||||||||
股東權益： |
||||||||||
普通股；截至2023年9月30日和2022年12月31日，面值0.001美元，已授權股票37,500,000股，分別發行和流通18,573,391股和18,420,067股 |
19 | 19 | ||||||||
額外的實收資本 |
101,670 | 100,137 | ||||||||
累計其他綜合（虧損）收益 |
(460) | ) | 82 | |||||||
累計赤字 |
(41,668) | ) | (40,371 | ) | ||||||
股東權益總額 |
59,561 | 59,867 | ||||||||
負債和股東權益總額 |
$ | 81,083 | $ | 96,580 | ||||||
Stabilis Solutions, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(Unaudited, in thousands)
Stabilis Solutions, Inc.
簡明合併現金流量表
（未經審計，以千計）
| Three Months Ended | Nine Months Ended | |||||||||||||||
|
September 30, 2023 |
June 30, 2023 |
September 30, 2022 |
September 30, 2023 |
September 30, 2022 |
||||||||||||
Cash flows from operating activities: |
||||||||||||||||
Net income (loss) from continuing operations |
$ | (207 | ) | $ | (2,174 | ) | $ | 1,024 | $ | (1,297 | ) | $ | (1,410 | ) | ||
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by operating activities: |
||||||||||||||||
Depreciation |
2,003 | 1,992 | 2,115 | 6,006 | 6,589 | |||||||||||
Stock-based compensation expense |
513 | 593 | 602 | 1,695 | 1,741 | |||||||||||
(Gain) loss from disposal of fixed assets |
(1,002 | ) | - | 46 | (1,002 | ) | (34 | ) | ||||||||
Income from equity investment in joint venture |
(332 | ) | (741 | ) | (205 | ) | (1,466 | ) | (1,126 | ) | ||||||
Cash settlements from natural gas derivatives, net |
- | - | 682 | - | (1,179 | ) | ||||||||||
Realized and unrealized (gains) losses on natural gas derivatives |
49 | 70 | (602 | ) | 540 | 513 | ||||||||||
Distributions from equity investment in joint venture |
- | 813 | - | 813 | 1,550 | |||||||||||
Changes in operating assets and liabilities: |
||||||||||||||||
Accounts receivable |
(1,372 | ) | 4,964 | (513 | ) | 5,636 | (977 | ) | ||||||||
Prepaid expenses and other current assets |
121 | 320 | (227 | ) | 948 | 529 | ||||||||||
Accounts payable and accrued liabilities |
1,752 | (2,024 | ) | 3,904 | (6,633 | ) | 5,174 | |||||||||
Other |
(47 | ) | (4 | ) | (54 | ) | 140 | (570 | ) | |||||||
Net cash provided by operating activities from continuing operations |
1,478 | 3,809 | 6,772 | 5,380 | 10,800 | |||||||||||
Net cash provided by operating activities from discontinued operations |
- | - | 179 | - | 738 | |||||||||||
Net cash provided by operating activities |
1,478 | 3,809 | 6,951 | 5,380 | 11,538 | |||||||||||
Cash flows from investing activities: |
||||||||||||||||
Acquisition of fixed assets |
(3,771 | ) | (1,484 | ) | (723 | ) | (8,982 | ) | (1,746 | ) | ||||||
Proceeds from sale of fixed assets |
- | - | - | - | 100 | |||||||||||
Proceeds from assets held for sale |
- | - | 2,049 | - | 2,049 | |||||||||||
Net cash provided by (used in) investing activities from continuing operations |
(3,771 | ) | (1,484 | ) | 1,326 | (8,982 | ) | 403 | ||||||||
Net cash used in investing activities from discontinued operations |
- | - | (76 | ) | - | (334 | ) | |||||||||
Net cash provided by (used in) investing activities |
(3,771 | ) | (1,484 | ) | 1,250 | (8,982 | ) | 69 | ||||||||
Cash flows from financing activities: |
||||||||||||||||
Proceeds from borrowings on short- and long-term notes payable |
- | - | - | - | 1,000 | |||||||||||
Payments on short- and long-term notes payable |
(129 | ) | (366 | ) | (682 | ) | (860 | ) | (1,555 | ) | ||||||
Payments on notes payable and finance leases from related parties |
(613 | ) | (604 | ) | - | (1,813 | ) | (669 | ) | |||||||
Payment of debt issuance costs |
- | (108 | ) | - | (108 | ) | - | |||||||||
Employee tax payments from restricted stock withholdings |
(162 | ) | - | (85 | ) | (162 | ) | (85 | ) | |||||||
Net cash used in financing activities from continuing operations |
(904 | ) | (1,078 | ) | (767 | ) | (2,943 | ) | (1,309 | ) | ||||||
Net cash used in financing activities from discontinued operations |
- | - | (55 | ) | - | (113 | ) | |||||||||
Net cash used in financing activities |
(904 | ) | (1,078 | ) | (822 | ) | (2,943 | ) | (1,422 | ) | ||||||
Effect of exchange rate changes on cash |
(10 | ) | 13 | (47 | ) | 8 | 7 | |||||||||
Net increase (decrease) in cash and cash equivalents |
(3,207 | ) | 1,260 | 7,332 | (6,537 | ) | 10,192 | |||||||||
Cash and cash equivalents, beginning of period |
8,121 | 6,861 | 3,770 | 11,451 | 910 | |||||||||||
Cash and cash equivalents, end of period |
$ | 4,914 | $ | 8,121 | $ | 11,102 | $ | 4,914 | $ | 11,102 | ||||||
| 三個月已結束 | 九個月已結束 | |||||||||||||||
|
9月30日 2023 |
6月30日 2023 |
9月30日 2022 |
9月30日 2023 |
9月30日 2022 |
||||||||||||
來自經營活動的現金流： |
||||||||||||||||
持續經營業務的淨收益（虧損） |
$ | (207) | ) | $ | (2,174 | ) | $ | 1,024 | $ | (1,297) | ) | $ | (1,410 | ) | ||
爲調節持續經營業務淨收益（虧損）與經營活動提供的淨現金而進行的調整： |
||||||||||||||||
折舊 |
2,003 | 1,992 | 2,115 | 6,006 | 6,589 | |||||||||||
股票薪酬支出 |
513 | 593 | 602 | 1,695 | 1,741 | |||||||||||
處置固定資產的（收益）損失 |
(1,002 | ) | - | 46 | (1,002 | ) | (34) | ) | ||||||||
合資企業股權投資收入 |
(332) | ) | (741) | ) | (205 | ) | (1,466) | ) | (1,126 | ) | ||||||
來自天然氣衍生品的現金結算，淨額 |
- | - | 682 | - | (1,179 | ) | ||||||||||
天然氣衍生品的已實現和未實現（收益）虧損 |
49 | 70 | (602) | ) | 540 | 513 | ||||||||||
合資企業股權投資的分配 |
- | 813 | - | 813 | 1,550 | |||||||||||
運營資產和負債的變化： |
||||||||||||||||
應收賬款 |
(1,372) | ) | 4,964 | (513 | ) | 5,636 | (977) | ) | ||||||||
預付費用和其他流動資產 |
121 | 320 | (227) | ) | 948 | 529 | ||||||||||
應付賬款和應計負債 |
1,752 | (2,024 | ) | 3,904 | (6,633) | ) | 5,174 | |||||||||
其他 |
(47) | ) | (4) | ) | (54) | ) | 140 | (570) | ) | |||||||
持續經營活動提供的淨現金 |
1,478 | 3,809 | 6,772 | 5,380 | 10,800 | |||||||||||
經營活動從已終止業務中提供的淨現金 |
- | - | 179 | - | 738 | |||||||||||
經營活動提供的淨現金 |
1,478 | 3,809 | 6,951 | 5,380 | 11,538 | |||||||||||
來自投資活動的現金流： |
||||||||||||||||
購置固定資產 |
(3,771) | ) | (1,484 | ) | (723 | ) | (8,982) | ) | (1,746) | ) | ||||||
出售固定資產的收益 |
- | - | - | - | 100 | |||||||||||
待售資產的收益 |
- | - | 2,049 | - | 2,049 | |||||||||||
持續經營中由（用於）投資活動提供的淨現金 |
(3,771) | ) | (1,484 | ) | 1,326 | (8,982) | ) | 403 | ||||||||
已終止業務中用於投資活動的淨現金 |
- | - | (76 | ) | - | (334) | ) | |||||||||
由（用於）投資活動提供的淨現金 |
(3,771) | ) | (1,484 | ) | 1,250 | (8,982) | ) | 69 | ||||||||
來自融資活動的現金流： |
||||||||||||||||
短期和長期應付票據的借款收益 |
- | - | - | - | 1,000 | |||||||||||
短期和長期應付票據的付款 |
(129) | ) | (366 | ) | (682 | ) | (860) | ) | (1,555 | ) | ||||||
關聯方支付應付票據和融資租賃 |
(613) | ) | (604 | ) | - | (1,813) | ) | (669) | ) | |||||||
支付債務發行成本 |
- | (108 | ) | - | (108 | ) | - | |||||||||
從限制性股票預扣中繳納的員工稅款 |
(162 | ) | - | (85) | ) | (162 | ) | (85) | ) | |||||||
用於持續經營業務融資活動的淨現金 |
(904) | ) | (1,078 | ) | (767 | ) | (2,943) | ) | (1,309) | ) | ||||||
用於已終止業務融資活動的淨現金 |
- | - | (55) | ) | - | (113) | ) | |||||||||
用於融資活動的淨現金 |
(904) | ) | (1,078 | ) | (822) | ) | (2,943) | ) | (1,422) | ) | ||||||
匯率變動對現金的影響 |
(10) | ) | 13 | (47) | ) | 8 | 7 | |||||||||
現金和現金等價物的淨增加（減少） |
(3,207 | ) | 1,260 | 7,332 | (6,537) | ) | 10,192 | |||||||||
現金和現金等價物，期初 |
8,121 | 6,861 | 3,770 | 11,451 | 910 | |||||||||||
現金和現金等價物，期末 |
$ | 4,914 | $ | 8,121 | $ | 11,102 | $ | 4,914 | $ | 11,102 | ||||||
Non-GAAP Measures
非公認會計准則指標
Our management uses EBITDA and Adjusted EBITDA to assess the performance and operating results of our business. EBITDA is defined as Earnings before Interest (includes interest income and interest expense), Taxes, Depreciation and Amortization. Adjusted EBITDA is defined as EBITDA further adjusted for certain special items that occur during the reporting period, as noted below. We include EBITDA and Adjusted EBITDA to provide investors with a supplemental measure of our operating performance. Neither EBITDA nor Adjusted EBITDA is a recognized term under generally accepted accounting principles in the U.S. ("GAAP"). Accordingly, they should not be used as an indicator of, or an alternative to, net income as a measure of operating performance. In addition, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow available for management's discretionary use, as they do not consider certain cash requirements, such as debt service requirements. Because the definition of EBITDA and Adjusted EBITDA may vary among companies and industries, it may not be comparable to other similarly titled measures used by other companies. The following table provides a reconciliation of net income (loss), the most directly comparable GAAP measure, to EBITDA and Adjusted EBITDA (in thousands).
我們的管理層使用息稅折舊攤銷前利潤和調整後息稅折舊攤銷前利潤來評估我們業務的業績和經營業績。息稅折舊攤銷前利潤定義爲扣除利息前的收益（包括利息收入和利息支出）、稅項、折舊和攤銷。調整後的息稅折舊攤銷前利潤定義爲根據報告期內發生的某些特殊項目進一步調整的息稅折舊攤銷前利潤，如下所示。我們將息稅折舊攤銷前利潤和調整後息稅折舊攤銷前利潤包括在內，爲投資者提供了衡量我們經營業績的補充指標。根據美國公認的會計原則（“GAAP”），息稅折舊攤銷前利潤和調整後息稅折舊攤銷前利潤都不是公認的術語。因此，不應將其用作淨收入的指標或替代品，以此作爲衡量經營業績的指標。此外，息稅折舊攤銷前利潤和調整後息稅折舊攤銷前利潤並不是衡量可供管理層全權使用的自由現金流的指標，因爲它們不考慮某些現金需求，例如還本付息要求。由於息稅折舊攤銷前利潤和調整後息稅折舊攤銷前利潤的定義可能因公司和行業而異，因此可能無法與其他公司使用的其他類似標題的衡量標準相提並論。下表提供了淨收益（虧損）（最直接可比的GAAP指標）與息稅折舊攤銷前利潤和調整後息稅折舊攤銷前利潤（以千計）的對賬情況。
| Three Months Ended | Nine Months Ended | |||||||||||||||
|
September 30, 2023 |
June 30, 2023 |
September 30, 2022 |
September 30, 2023 |
September 30, 2022 |
||||||||||||
Net income (loss) |
$ | (207 | ) | $ | (2,174 | ) | $ | (277 | ) | $ | (1,297 | ) | $ | (2,851 | ) | |
Loss from discontinued operations |
- | - | 1,301 | - | 1,441 | |||||||||||
Net income (loss) from continuing operations |
(207 | ) | (2,174 | ) | 1,024 | (1,297 | ) | (1,410 | ) | |||||||
Depreciation |
2,003 | 1,992 | 2,115 | 6,006 | 6,589 | |||||||||||
Interest expense, net |
(45 | ) | 171 | 199 | 308 | 566 | ||||||||||
Income tax expense (benefit) |
57 | 159 | (115 | ) | 224 | (248 | ) | |||||||||
EBITDA |
1,808 | 148 | 3,223 | 5,241 | 5,497 | |||||||||||
Special items* |
(1,269 | ) | (224 | ) | (926 | ) | (1,324 | ) | 201 | |||||||
Adjusted EBITDA |
$ | 539 | $ | (76 | ) | $ | 2,297 | $ | 3,917 | $ | 5,698 | |||||
| 三個月已結束 | 九個月已結束 | |||||||||||||||
|
9月30日 2023 |
6月30日 2023 |
9月30日 2022 |
9月30日 2023 |
9月30日 2022 |
||||||||||||
淨收益（虧損） |
$ | (207) | ) | $ | (2,174 | ) | $ | (277 | ) | $ | (1,297) | ) | $ | (2,851) | ) | |
已終止業務造成的虧損 |
- | - | 1,301 | - | 1,441 | |||||||||||
持續經營業務的淨收益（虧損） |
(207) | ) | (2,174 | ) | 1,024 | (1,297) | ) | (1,410 | ) | |||||||
折舊 |
2,003 | 1,992 | 2,115 | 6,006 | 6,589 | |||||||||||
利息支出，淨額 |
(45) | ) | 171 | 199 | 308 | 566 | ||||||||||
所得稅支出（福利） |
57 | 159 | (115) | ) | 224 | (248) | ) | |||||||||
EBITDA |
1,808 | 148 | 3,223 | 5,241 | 5,497 | |||||||||||
特殊物品* |
(1,269 | ) | (224 | ) | (926) | ) | (1,324) | ) | 201 | |||||||
調整後 EBITDA |
$ | 539 | $ | (76 | ) | $ | 2,297 | $ | 3,917 | $ | 5,698 | |||||
* Special items for the three and nine months ended September 30, 2023 consist of the subtraction of an unrealized (gain) related to natural gas derivatives of $0.3 million and a $1.0 million gain on disposition of fixed assets. Special items for the three months ended June 30, 2023 consist of the subtraction of an unrealized (gain) on natural gas derivatives. Special items for the three months ended September 30, 2022, consist of the subtraction of an unrealized (gain) on natural gas derivatives. Special items for the nine months ended September 30, 2022, consist of the subtraction of an unrealized (gain) on natural gas derivatives of $27 thousand and add-back of one-time costs related to an expired contract of $0.2 million.
* 截至2023年9月30日的三個月和九個月的特殊項目包括減去與天然氣衍生品相關的未實現（收益）30萬美元和處置固定資產的100萬美元收益。截至2023年6月30日的三個月的特殊項目包括減去天然氣衍生品的未實現（收益）。截至2022年9月30日的三個月的特殊項目包括減去天然氣衍生品的未實現（收益）。截至2022年9月30日的九個月的特殊項目包括減去27,000美元的天然氣衍生品未實現（收益）以及與20萬美元到期合同相關的一次性成本的加入。
INVESTOR RELATIONS CONTACT:
投資者關係聯繫人：
Andrew Puhala
Chief Financial Officer
ir@stabilis-solutions.com
安德魯·普哈拉
首席財務官
ir@stabilis-solutions.com
SOURCE: Stabilis Solutions Inc.
來源： 斯泰必利斯解決方案公司
譯文內容由第三人軟體翻譯。