New Fortress Energy Q4 2019 Earnings Report
Key Takeaways
New Fortress Energy LLC reported increased revenues for Q4 2019, driven by revenue from the Old Harbour terminal, increased volumes to industrial end users in Jamaica, and additional sales at the Montego Bay terminal. The company also achieved its first quarter of positive operating margin. Net loss decreased due to the positive operating margin and decreases in SG&A expense.
The Company had its first quarter of positive Operating Margin.
Volumes sold increased over 200,000 gallons per day (“GPD”) in Q4 2019 from Q3 2019.
Jamalco CHP declared COD on March 3, 2020 and is consistently delivering approximately 100 MW to the Jamaican grid.
NFE executed a term loan facility on January 10, 2020 for $800mm.
New Fortress Energy
New Fortress Energy
Forward Guidance
The company expects volumes sold to increase to over 2,000,000 GPD during Q2 2020 and operating margin to expand as asset utilization is enhanced.