SLNG earnings analysis
What we found in SLNG's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Stabilis reported $11.916 million of second-quarter revenue, up from $10 million in 2026 Q1 but below $17 million in 2025 Q2, while diluted EPS deteriorated to negative $0.25 from negative $0.03 a year earlier. Profitability was burdened by a $2.9 million vessel charter expense. Management nevertheless expects second-half 2026 revenue to rise over 50% versus the first half and 2027 revenue to exceed $100 million, creating a constructive longer-term outlook that is offset by near-term losses and Galveston project financing risk.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Rebounded Sequentially
- Second-quarter revenue was $11.916 million, up approximately 19% from $10 million in 2026 Q1, indicating sequential recovery despite remaining below the $17 million reported in 2025 Q2.
- Constructive Second-Half Outlook
- Management expects second-half 2026 revenue to increase by over 50% versus the first half, providing a quantitative near-term growth outlook.
- 2027 Revenue Ramp Target
- Management expects 2027 revenue to exceed $100 million, implying a substantial ramp from the $11.916 million reported in the current quarter.
- Controls Remained Effective
- Disclosure controls and procedures were concluded to be effective as of June 30, 2026, and the company reported no material changes in internal control over financial reporting during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Large Quarterly EPS Loss
- Diluted EPS was negative $0.25, versus negative $0.03 in 2025 Q2 and negative $0.22 in 2026 Q1, showing continued earnings pressure. The reported result was also below the $0.01 consensus estimate.
- Vessel Charter Expense
- Results were pressured by a $2.9 million vessel charter expense, which materially weighed on quarterly profitability.
- Galveston Financing and Off-Take Risk
- The company added a risk that failure to secure additional off-take could prevent financing for the proposed Galveston LNG liquefaction facility. At June 30, 2026, $9.4 million of related costs had been capitalized.
- Revenue Remains Below Prior Year
- Revenue of $11.916 million was approximately 30% below the $17 million reported in 2025 Q2, indicating that the expected growth ramp has not yet translated into year-over-year quarterly growth.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.25
What they said about what is next.
Management expects second-half 2026 revenue to increase by over 50% versus the first half and expects 2027 revenue to exceed $100 million. No detailed EPS guidance was provided; no explicit change versus prior company guidance was disclosed.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 6, 2026
- Stabilis Solutions reported a dismal Q1 2026 with revenues of $10.4 million, significantly above the $9.8 million estimate but ended the quarter with a net loss of $4.0 million, falling short of the anticipated EPS of…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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