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Mar 31, 2025
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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