- Hoegh LNG Partners LP (NYSE:HMLP) agreed 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.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Why Hoegh LNG Partners Shares Are Trading Higher Today
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
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