Venture Global rises on FY core profit forecast above estimates

Shares of LNG producer Venture Global VG.N rise 7.8% to $10.73 in volatile morning trade

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

VG cuts current-year core profit forecast to between $6.4 billion and $6.8 billion, compared with prior view of between $6.8 billion and $7.4 billion

However, the midpoint of the forecast is still above analysts' expectations of $6.54 billion - data compiled by LSEG

Company expects to execute and report on several 20-year LNG sales over the coming quarters - CEO Mike Sabel says on conference call

VG plans to have the entire Plaquemines LNG facility in Louisiana producing LNG this year - Sabel

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

Including session's moves, VG is down 56% since it went public on January 24