Stabilis Solutions announces 1Q21 revenues
Published by Lydia Woellwarth,
Stabilis Solutions, Inc., a provider of energy transition services including hydrogen and LNG fuelling solutions, has announced record preliminary first quarter 2021 revenues in the range of US$17.5 million to US$17.8 million. This revenue range is a 29% to 30% increase compared to US$13.7 million in 4Q20 and a 26% to 29% increase compared to US$13.8 million in 1Q20. 1Q20 was the Company’s previous record revenue quarter.
Stabilis delivered 13.4 million gal. of LNG during the quarter, a 29% increase compared to 4Q20 and a 12% increase compared to 1Q20.
“Stabilis is proud to report record revenues for the quarter, beating our prior record quarter, the first quarter of 2020, by well over 25%,” said Jim Reddinger, Stabilis Solutions’ President and Chief Executive Officer. “The energy transition is underway and Stabilis’ position as a premier supplier of clean LNG and hydrogen fuelling solutions is driving significant growth. We believe that this trend will continue into the remainder of 2021 and beyond.”
The year-over-year revenue increase was largely driven by broad-based growth including growth in power generation projects, continued expansion of the Company’s Mexico operations, and increased activity with aerospace customers.
These preliminary results are subject to the completion of the customary quarterly closing and review process and may be subject to change.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/22042021/stabilis-solutions-announces-1q21-revenues/
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