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Sep 30, 2021
New Fortress Energy Q3 2021 Earnings Report
New Fortress Energy reported record quarterly revenue and Total Segment Operating Margin, driven by growth in Terminals and Infrastructure and Ships segments.
Key Takeaways
New Fortress Energy reported a record quarterly revenue of over $300 million, with a net loss of $17.8 million. The company's Total Segment Operating Margin reached $210.5 million, driven by incremental revenue from the Ships segment and the Sergipe Power Plant.
Record quarterly revenue of over $300mm, increasing approximately $81mm from the second quarter.
Total Segment Operating Margin of $210.5mm, including contribution of approximately $116mm from Terminals and Infrastructure segment and approximately $95mm from Ships segment.
Illustrative Total Segment Operating Margin Goal for the 2nd half of 2021 expected to be $585 million.
FY 2022 Illustrative Total Segment Operating Margin Goal is on track for over $1.1 billion.
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
Illustrative Total Segment Operating Margin Goal for the 2nd half of 2021 expected to be $585 million, an increase of over 50% from the Illustrative Total Segment Operating Margin Goal set in July. FY 2022 Illustrative Total Segment Operating Margin Goal is on track for over $1.1 billion with significant earnings growth as Brazil, Ireland and Fast LNG come Online
Positive Outlook
- Illustrative Total Segment Operating Margin Goal for the 2nd half of 2021 expected to be $585 million
- FY 2022 Illustrative Total Segment Operating Margin Goal is on track for over $1.1 billion
- NFE positioned to supply LNG through the Santa Catarina terminal to over 400MW (>900k GPD of LNG forecasted) of new power plants
- Supply period will be Q2 2022 through end of 2025
- Expect our Clean Fuels business to benefit from proposed Build Back Better legislation
Challenges Ahead
- risk that our development, construction or commissioning schedules will take longer than we expect
- risk that the volumes we are able to sell are less than we expect due to decreased customer demand or our inability to supply
- risk that our expectations about the price at which we purchase LNG, the price at which we sell LNG, the cost at which we produce, ship and deliver LNG, and the margin that we receive for the LNG that we sell are not in line with our expectations
- risk that we may not develop our Fast LNG project on the timeline we expect or at all, or that we do not receive the benefits we expect from the Fast LNG project
- risks that our operating or other costs will increase and our expected funding of projects may not be possible
Revenue & Expenses
Visualization of income flow from segment revenue to net income