Israel · Delayed Price · Currency is ILS · Price in ILA NewMed Energy - Limited Partnership Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 delivered strong revenue and profit growth, driven by higher production and gas prices. Major infrastructure upgrades and project expansions are on track, with continued high gas prices expected. Dividend of $60 million declared.
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Q1 2026 saw lower revenues and near-zero net profit due to a month-long shutdown, but full-year guidance was raised by $330 million on higher Brent prices and increased production capacity. Major pipeline projects and new market agreements are set to boost future growth.
Fiscal Year 2025
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Q1 2026 results were impacted by a major shutdown, leading to lower revenues and net profit, but higher Brent prices and increased production capacity are expected to drive a $330 million upside for the year. Major infrastructure and export agreements support future growth.
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Q2 2025 saw lower revenue and profit due to production halts and lower prices, but a major new gas deal and ongoing expansion projects support future growth. Dividend distributions continue, and exploration in Bulgaria could drive further upside.
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Q1 2025 saw natural gas sales rise to 2.9 BCM and revenues reach $288 million, with net profit at $116 million. Major infrastructure and exploration projects advanced, and a $60 million dividend plus $400 million bond prepayment were announced.
Fiscal Year 2024
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2024 saw record production and a 21% rise in net income to $525 million, with revenues at $1.14 billion. Major expansion projects and new export agreements are underway, while dividends and debt reduction remain priorities.
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Record Q3 results with net profit up 25% year-over-year, driven by higher Leviathan production and sales. Major infrastructure projects are progressing, though some face delays, and the company maintains a strong balance sheet with ongoing dividend payouts.
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Q2 saw a 47% year-over-year net profit increase to $137 million, with sales volumes and prices rising due to strong demand in Egypt and Israel. Expansion projects are on track, and a $65 million dividend was declared, supported by reduced debt and robust cash flow.