Cool Company reports Q2 revenue $85.48M, consensus $81M

Richard Tyrrell, CEO, commented: “Solid quarter, anticipating the gradual return of a more balanced market. The LNG sector has seen positive news flow so far this year, and when combined with the limited new vessel orders, future prospects look favorable. Recent momentum has been supported by new projects reaching commercial viability and by existing projects-such as Golden Pass-getting back on track. Together with our backlog, the gradual recovery in the charter market is underpinning the long-term value of our fleet. Our portfolio spans both short- and long-term charters. This quarter, longer-term charters contributed most to cash flow, while our short-term fixtures outperformed the market. Strong utilization and rates above the weak indices were partly driven by our LNGE upgrades, which deliver considerable benefits that are particularly valuable in this environment of high LNG prices and slower vessel speeds. We expect rates to strengthen as new LNG supply enters the market and believe that patience in fixing our few open vessels for longer periods will be advantageous. This outlook is supported by the ongoing idling and scrapping of older tonnage, as noted in prior updates. During Q3, we completed two drydocks. With nine drydocks completed so far since 2024, we have one more drydock to be completed in Q4 including an LNGE upgrade, and one more in the first half of 2026.”