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Mar 31
New Fortress Energy Q1 2025 Earnings Report
New Fortress Energy reported a net loss and significantly lower revenue in Q1 2025.
Key Takeaways
New Fortress Energy experienced a sharp decline in revenue and recorded a net loss during Q1 2025. However, the company completed a major asset sale in Jamaica to reduce debt and improve its financial structure.
Reported a net loss of $197 million for Q1 2025.
Revenue fell to $470.5 million compared to $690.3 million in Q1 2024.
Adjusted EBITDA was $82.3 million, reflecting only core earnings.
Completed $1.055 billion sale of Jamaican assets to Excelerate Energy.
New Fortress Energy
New Fortress Energy
New Fortress Energy Revenue by Segment
Forward Guidance
New Fortress Energy expects earnings to improve in 2025 through project expansions and one-time events.
Positive Outlook
- CELBA 624 MW plant in Brazil is 95% complete and on budget.
- PortoCem plant is over 50% complete and progressing well.
- Fast LNG asset fully commissioned and optimization is underway.
- Asset sales to continue improving liquidity and debt position.
- Core earnings expected to rise as new projects go online.
Challenges Ahead
- No revenue from terminated Puerto Rico temporary power project.
- Reported net losses for two consecutive quarters.
- Debt extinguishment costs impacting bottom line.
- Operations remain subject to permitting risks.
- Actual earnings may differ from preliminary estimates.