SLNG
Stabilis Solutions, Inc.5.09
+0.01+0.2%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Data center scalability unpacked
Q&A detailed data center LNG roles—commissioning (3-9 months), bridging (2-5 years), permanent backup—beyond the $200M contract, using third-party supply and customer-backed CapEx for scalability despite logistics limits. Carnival's renewal stalled on scarce Jones Act bunkering vessels, mostly clustered in Florida. Galveston FID risks center on securing remaining 60% offtake and financing, though Middle East tensions aid economics. Aerospace eyes 30-40% revenue growth in 2026 via extended contracts. Bunkering vessels? Few and far between. Management stayed confident on 2027 ramp, watch FID execution.
Key Stats
Market Cap
94.66MP/E (TTM)
84.83Basic EPS (TTM)
0.06Dividend Yield
0%Recent Filings
10-K
FY2025 results
Stabilis posted a $1.4M net loss for FY2025 ended December 31, 2025, down sharply from $4.6M profit in 2024, as revenues dipped 6.9% to $68.2M on lower rental/service volumes and 6.2M fewer gallons delivered despite higher natgas prices. Q4 saw two major contracts end—a 32% revenue marine bunkering deal in Galveston due to Jones Act vessel shortages, and a 19% remote power pact—yet momentum built with two 10-year cruise bunkering deals anchoring a proposed 350,000 gpd Galveston facility (56% committed, $350-400M capex, FID pending) and a $200M data center take-or-pay starting 2027. Cash fell to $7.5M with $8.8M debt/leases but $2.7M revolver availability; $8.1M capex targeted expansions. Galveston delays risk Q4 momentum.
8-K
Q4 revenues drop on contract ends
Stabilis Solutions reported Q4 2025 revenues of $13.3 million, down 23.3% from prior year due to multi-year marine and power contracts winding down, posting a $0.3 million net loss but $1.5 million Adjusted EBITDA. Full-year revenues hit $68.2 million with $8.0 million Adjusted EBITDA. New $200 million take-or-pay LNG deal starts early 2027. Galveston project nears FID by Q1 2026 end.
8-K
Secures $200M LNG contract
Stabilis Solutions reported preliminary Q4 2025 revenues of $13.0-13.5 million and net loss of ($0.3-0.5) million, while securing a multi-year take-or-pay LNG supply contract worth $200 million for data center power, starting Q1 2027. Two contracts ended, slashing 51% of 2025 revenues. Galveston LNG project nears FID by Q1 2026 end. New deal dwarfs past revenues.
8-K
Carnival LNG offtake deal
Stabilis Solutions signed a definitive 10-year LNG offtake agreement with Carnival Corporation on December 18, 2025, to fuel cruise operations at Galveston using its planned flagship liquefaction facility and Jones Act-compliant bunkering vessel. This second anchor deal lifts total contracted capacity to 55%. Deliveries start Q4 2027, pending financing and construction. Final investment decision targets Q1 2026.
8-K
Charters LNG vessel Garibaldi
Stabilis Solutions' subsidiary inked a two-year time charter on December 12, 2025, for the LNG bunkering vessel Garibaldi from Seaspan Energy at $32,400 daily, plus ~$1.0 million positioning fee. Delivery hits March 1, 2026, for marine bunkering in Galveston. Options include a one-year extension and $60 million purchase. Stabilis guarantees it all. Smart LNG play.
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