Cool Company: Still Cool Despite The Dividend Cut
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Cool Company (CLCO) experienced a decline in share price due to recent dividend cuts and weakness in day rates. Despite these challenges, the company reported stable quarterly revenues and EBITDA. A realized loss from derivatives trading impacted the bottom line, but CLCO's modern fleet and $1.1 billion backlog provide revenue predictability and dividend safety.
December 03, 2024 | 8:45 am
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Cool Company (CLCO) shares declined due to dividend cuts and day rate weakness. However, stable revenues, EBITDA, and a $1.1 billion backlog provide revenue predictability and dividend safety.
The dividend cut and weakness in day rates are negative factors impacting CLCO's stock price. However, the company's stable revenues, EBITDA, and significant backlog mitigate some risks, providing a level of predictability and safety for future dividends.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100