Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Why Hoegh LNG Partners Shares Are Trading Higher Today

  • Hoegh LNG Partners LP (NYSE:HMLPagreed to be acquired by Hoegh LNG Holdings Ltd for $9.25 per common unit for a total purchase price of approximately $167.6 million.
  • The revised price represents an increase of $5.00 when compared to the offer of $4.25 per unit made by Höegh LNG on December 3, 2021, and a premium of 35% to the closing price of $6.85 on May 24, 2022.
  • HMLP also reported a first-quarter FY22 sales growth of 1.5% year-over-year to $35.31 million, beating the consensus of $34.74 million.
  • The operating margin was 80.7%, and operating income for the quarter fell 10.1% to $28.5 million.
  • Net income for the quarter declined 15.4% to $20.2 million. Earnings per unit of $0.49 beat the analyst consensus of $0.37.
  • HMLP held $39.7 million in cash and equivalents as of March 31, 2022. Net cash provided by operating activities for the quarter totaled $11.3 million.
  • Price Action: HMLP shares are trading higher by 31.9% at $9.04 on the last check Wednesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.