Excelerate Energy Earnings Call Transcripts
Fiscal Year 2026
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Q3 adjusted EBITDA hit a record ~$133 million, and FY guidance was narrowed to $495 million-$515 million. Bahamas, Iraq, Colombia and other initiatives underpin a projected $250 million-$300 million of incremental EBITDA by 2029.
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Floating regasification terminals face persistent global demand, with significant LNG supply growth expected by 2030. Sequential project execution, including major milestones in Iraq and asset conversions, underpins earnings and dividend growth. Expansion in the Caribbean and EMs is supported by a strong balance sheet and flexible capital allocation.
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Q2 2026 saw strong financial and operational results, with $120M adjusted EBITDA and key project milestones in Jordan, Colombia, and Iraq. Full-year EBITDA guidance was raised, and capital returns to shareholders increased. LNG regasification market remains tight, supporting future growth.
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Q1 2026 saw strong financial and operational results, with $122M adjusted EBITDA and 99.8% reliability. Delays in Iraq shifted guidance, but asset redeployment and growth in Jamaica and Jordan support a positive outlook through 2028.
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The business is positioned as a critical last-mile provider in the LNG value chain, emphasizing energy security and operational reliability. Growth is driven by integrated projects in Iraq, South Asia, and LATAM, with a flexible asset strategy and strong EBITDA outlook for 2027–2028.
Fiscal Year 2025
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Record 2025 Adjusted EBITDA of $449M was driven by the Jamaica acquisition and strong operational reliability. 2026 guidance targets $515–$545M Adjusted EBITDA, with major growth from Iraq and LNG supply deals. CapEx and dividend growth remain disciplined.
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Record Q3 results with adjusted EBITDA of $129M and net income up 22% sequentially. Operations in Jamaica rebounded swiftly post-hurricane, and a major Iraq LNG terminal contract was secured. Full-year EBITDA guidance was raised, with strong liquidity and growth outlook.
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A global LNG infrastructure provider is expanding in the Caribbean with a major Jamaica acquisition, targeting $80–$110 million incremental EBITDA and $200–$400 million CapEx over five years. Strong financials, asset innovation, and a focus on sustainability support growth and shareholder returns.
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Q2 2025 saw strong financial and operational results, with the Jamaica acquisition exceeding expectations and driving EBITDA growth. Guidance for 2025 was raised, and the company is investing in Caribbean and global LNG infrastructure while maintaining a strong balance sheet.
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Q1 2025 saw strong financial and operational results, with adjusted EBITDA of $100M and net income of $56M, driven by stable take-or-pay contracts. The $1B Jamaica acquisition is set to diversify revenue and enhance growth, while 2025 EBITDA guidance was raised to $345M–$365M.
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A $1.055 billion acquisition of Jamaica’s integrated LNG and power platform will provide immediate earnings accretion, stable long-term cash flows, and significant growth opportunities in the Atlantic Basin. The deal secures key infrastructure, long-term contracts, and positions for further expansion.
Fiscal Year 2024
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Record 2024 adjusted EBITDA and net income were driven by strong FSRU operations, high reliability, and successful LNG optimization. 2025 guidance reflects continued core business strength, with major capital projects and fleet expansion underway.
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Q3 2024 saw adjusted EBITDA rise to $92M, driven by strong regas business and cost controls. Dividend more than doubled, 2024 EBITDA guidance was raised, and new LNG supply agreements and infrastructure projects advanced in Bangladesh, Vietnam, and Alaska.
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LNG remains an affordable, competitive energy source, supporting global market expansion and new project development. The company leverages a stable contract base, diversified assets, and a strong balance sheet to pursue growth in emerging and established markets, while advancing sustainability and capital return initiatives.
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Q2 2024 Adjusted EBITDA rose 18% sequentially to $89 million, driven by strong FSRU and terminal operations. Major projects in Vietnam and Alaska advanced, with full-year EBITDA guidance raised to $320–$340 million. Liquidity remains strong, supporting growth and capital returns.
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Excelerate is expanding its LNG infrastructure globally, focusing on contracted, stable regasification revenues and long-term growth in high-demand regions like South Asia, Europe, and South America. The company is investing in new assets, integrating supply, and prioritizing growth while maintaining shareholder returns.