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Mar 31, 2024
New Fortress Energy Q1 2024 Earnings Report
New Fortress Energy reported first quarter 2024 results with Adjusted EBITDA of $340 million and net income of $57 million.
Key Takeaways
New Fortress Energy announced strong first quarter 2024 results, highlighting the completion of their first FLNG unit, commencement of operations in Brazil, and the sale of power plants in Puerto Rico along with securing a significant gas contract.
Adjusted EBITDA of $340 million in Q1 2024
Net income of $57 million in Q1 2024
Adjusted EPS of $0.67 on a fully diluted basis in Q1 2024
Completed construction of first FLNG unit and commencing commissioning
New Fortress Energy
New Fortress Energy
New Fortress Energy Revenue by Segment
Revenue by Segment
Terminals & Infra Revenue
CapyFin.comShips Revenue
CapyFin.com Forward Guidance
The company anticipates significant milestones with the completion of the first FLNG unit, commencement of operations in Brazil, and expansion in Puerto Rico, underscoring commitment to growth and shareholder value.
Positive Outlook
- Completed construction of first FLNG unit and commissioning the asset
- First LNG expected later this month and first full cargo expected in June
- Commenced operations in Brazil at both LNG terminals
- 2.2 gigawatts of power under construction
- Completed the sale of the power plants developed for FEMA in Puerto Rico
Challenges Ahead
- Risks related to the development, construction, completion or commissioning schedule for the facilities
- Risks related to the operation and maintenance of our facilities and assets
- Failure of our third-party contractors, equipment manufacturers, suppliers and operators to perform their obligations for the development, construction and operation of our projects, vessels and assets
- Our ability to implement our business strategy
- The risk that proposed transactions may not be completed in a timely manner or at all, including related to the Company’s proposed Asset Sales
Revenue & Expenses
Visualization of income flow from segment revenue to net income