NextDecade Earnings Call Transcripts
Fiscal Year 2026
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Construction at the Rio Grande LNG facility is ahead of schedule and within budget, with first LNG from Train 1 expected in early 2027. Early LNG sales have reduced market risk, and strong demand supports future expansion, while financial guidance and leverage targets are reaffirmed.
Fiscal Year 2025
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Major milestones achieved in 2025 include FIDs for trains four and five, robust long-term contracting, and construction ahead of schedule. Financial guidance remains strong, with flexible capital structure and significant upside from early LNG sales and future expansions.
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Positive FID on Train 5 secures 30 mtpa under construction and $30B in financing, with 85% capacity contracted and minimal dilution. Guidance projects $800M annual distributable cash flow post-flip, and expansion plans could double capacity, leveraging brownfield cost advantages.