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Sep 30, 2022
New Fortress Energy Q3 2022 Earnings Report
Reported financial results for the third quarter of 2022.
Key Takeaways
New Fortress Energy reported Q3 2022 Adjusted EBITDA of $291 million and net income of $56 million. Adjusted EPS for the period was $0.41 per share.
Reported Q3 2022 Adjusted EBITDA of $291 million.
Adjusted EPS for the period was $0.41 per share on a fully diluted basis.
On track to achieve Illustrative Adjusted EBITDA Goal of ~$1.1 billion for 2022.
Construction of Fast LNG units is progressing rapidly with the first FLNG unit expected to achieve Mechanical Completion in March 2023 and commence Operations by mid-2023.
Revenue by Segment
Forward Guidance
The company is focused on achieving its Illustrative Adjusted EBITDA Goals, driven primarily by the expected Deployment of FLNG 1 in the first half of 2023, as well as higher expected operating margins and continued LNG portfolio optimization.
Positive Outlook
- Expected Deployment of FLNG 1 in the first half of 2023.
- Higher expected operating margins.
- Continued LNG portfolio optimization.
- Fast LNG units represent more than half of the world’s expected incremental LNG supply in 2023-2024.
- Expect five Fast LNG units under Development to add approximately 7+ mtpa of new liquefaction capacity by the end of 2024.
Challenges Ahead
- Risks associated with the development of new technologies such as the Fast LNG technology.
- Risks related to the development, construction, completion or commissioning schedule for the facilities.
- Risks related to the operation and maintenance of facilities and assets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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