New Fortress Energy Earnings Call Transcripts
Fiscal Year 2026
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A major debt-for-equity restructuring reduces corporate debt by over 90%, splits the business into a private BrazilCo and a deleveraged public entity, and positions the company for stable growth. Existing shareholders retain a 35% stake, and key growth projects are on track.
Fiscal Year 2025
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Core earnings and liquidity remain strong, with Q1 results in line with expectations and significant deleveraging from the Jamaica asset sale. Major Brazilian projects are nearing completion, supporting raised EBITDA guidance for 2025 and positioning for long-term growth.
Fiscal Year 2024
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Q4 and FY2024 saw strong EBITDA growth, driven by FLNG 1 performance and strategic asset management. Major refinancing and asset sales initiatives improved liquidity and set the stage for deleveraging, while Puerto Rico and Brazil offer significant long-term growth opportunities.
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Q3 Adjusted EBITDA was $176M with stable operations and major refinancing boosting liquidity. Strategic focus is on asset sales and partnerships to deleverage, while key projects in Brazil, Nicaragua, and Jamaica advance on schedule.
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Q2 EBITDA fell short due to FLNG 1 delays, but the asset is now online and expected to drive strong cash flow. Over 90% of 2024 revenues are contracted, with full-year EBITDA guidance of $1.4–$1.5 billion and further growth expected from Brazil and new data center initiatives.