Stabilis Solutions, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 11, 2022 at 02:33 am IST
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Stabilis Solutions, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 2.81 million compared to USD 2.58 million a year ago. Revenue was USD 25.78 million compared to USD 16.05 million a year ago. Net loss was USD 2.17 million compared to USD 1 million a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.06 a year ago.
For the six months, sales was USD 6.3 million compared to USD 7.01 million a year ago. Revenue was USD 48.82 million compared to USD 33.72 million a year ago. Net loss was USD 2.57 million compared to USD 0.829 million a year ago. Basic loss per share from continuing operations was USD 0.14 compared to USD 0.05 a year ago.
Stabilis Solutions, Inc. and its subsidiaries is an energy transition company. The Company provides turnkey clean energy production, storage, transportation and fueling solutions primarily using liquefied natural gas (LNG) to multiple end markets. The Company provides liquefied natural gas (LNG) solutions to customers in diverse end markets, including aerospace, agriculture, energy, industrial, marine bunkering, mining, pipeline, remote power, and utility markets. It builds and operates cryogenic natural gas processing facilities, called liquefiers, which convert natural gas into LNG through a purification and multiple stage cooling process. It owns and operates a liquefier that can produce up to 100,000 LNG gallons per day in George West, Texas and a liquefier that can produce up to 30,000 LNG gallons per day in Port Allen, Louisiana. It offers its customers a virtual natural gas pipeline by providing turnkey LNG transportation and logistics services in North America.