Venture Global rises on FY core profit forecast above estimates

Shares of LNG producer Venture Global VG.N up ~3% to $10.20 premarket

Company forecasts FY 2025 core profit above estimates, helped by higher LNG demand and shipments from its projects

VG expects to export 145 to 150 cargos from the Calcasieu project and 222 to 239 cargos from the Plaquemines project this year

However, VG expects current-year adjusted core profit of between $6.4 billion and $6.8 billion, the midpoint of which is above Wall Street expectations of $6.54 billion, according to data compiled by LSEG

Q1 revenue more than doubles to $2.9 billion

As of last close, VG has lost 58.7% since it went public on January 24