Venture Global Inc. (VG) shares tumbled over 5% in the pre-market trading session on Thursday, as the company's fiscal fourth-quarter revenue fell short of Wall Street expectations.
The liquefied natural gas (LNG) company reported revenue of $1.52 billion for the quarter ended December 31, 2022, down from $1.63 billion a year earlier. Analysts had expected revenue of $1.92 billion, according to FactSet.
While Venture Global reported adjusted earnings per share of $0.33, beating the consensus estimate of $0.30, the revenue miss appears to have weighed heavily on the stock's performance in the pre-market session.
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