-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：切尼爾能源公司2026年第一季業績強勁，液化天然氣（LNG）交付量創歷史新高，達到187船（年增11%），調整後EBITDA為23.3億美元（年增25%）。儘管由於48億美元的不利衍生性商品公允價值變動，以美國通用會計準則（GAAP）計算，該公司虧損35億美元。營收成長8%至58.7億美元，管理階層調整後的淨利為10.1億美元，營運前景更為明朗。儘管會計準則存在波動，但我們認為美國LNG的強勁需求和高產能利用率支撐了此投資邏輯。管理層上調了2026財年業績指引，預計EBITDA為72.5億美元至77.5億美元，可分配現金流為47.5億美元至52.5億美元。 5號生產線已於3月基本完工，6號和7號生產線計劃於年底完工，屆時將新增1000萬噸/年的產能。總額達4000萬噸/年的大型擴建工程目前仍處於擱置狀態，等待最終投資決定。鑑於中東地緣政治動盪導致卡達液化天然氣產能喪失，潛在的亞洲買家可能會重新轉向煤炭，我們認為管理層應保持謹慎。
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