Cool Co Q1 2023 earnings report

Cool Co (CLCO) added a NYSE listing earlier this year. Today the company released its first quarterly results since the listing.
Among the data points

  • Generated operating revenue of $98.6M
  • Net income of $70.1M (includes gain from a vessel sale)
  • TCE of $83.7K daily
  • Declared a Q1 dividend of 41c/sh

Cool Company Ltd. Q1 2023 Business Update | Coolco (

Added a 3-year, front-loaded charter that averages $120K daily charter. Also, added another charter that starts in early 2024. Company still hasn’t declared the exercise of the two newbuild options. However, the company presentation slides (Slide 15) has a couple of references regarding the newbuilds. Company is also planning on upgrades for 5 of the TFDE vessels beginning in 2024
1Q23 Results Presentation (

Golar Seal vessel sale has me upgrading the CLCO NAV. I originally valued the company around $16/sh, but now I think it might be higher,.