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 Q1 2025 earnings were stable, with a major Jamaica asset sale boosting liquidity and reducing debt. Brazilian power projects near completion, and full-year EBITDA plus gains are forecast at $1.25–$1.5 billion, with further growth expected from long-term contracts and asset-level financing.
Fiscal Year 2024
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Q4 and FY24 saw strong adjusted EBITDA, driven by FLNG 1 and robust core market activity. Major refinancing and asset sales are set to further deleverage and strengthen liquidity, while Puerto Rico and Brazil offer significant growth through conversions, new builds, and auctions.
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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.