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Dec 31, 2024
New Fortress Energy Q4 2024 Earnings Report
New Fortress Energy reported a Q4 2024 net loss, despite strong revenue growth and adjusted EBITDA surpassing guidance.
Key Takeaways
New Fortress Energy generated $679.0 million in revenue for Q4 2024, an increase from the previous quarter. However, the company reported a net loss of $224 million, primarily due to a $260 million loss on debt extinguishment. Adjusted EBITDA reached $313 million, exceeding guidance. The company completed its Fast LNG asset, expanded its gas supply contracts in Puerto Rico, and strengthened its financial position through refinancing initiatives.
Revenue reached $679.0 million in Q4 2024, reflecting strong growth.
Net loss of $224 million, driven by refinancing-related charges.
Adjusted EBITDA of $313 million, surpassing prior guidance.
Fast LNG asset was completed and placed into service.
Revenue by Segment
Forward Guidance
New Fortress Energy expects continued revenue growth and improved financial performance, driven by its LNG expansion, infrastructure projects, and refinancing benefits.
Positive Outlook
- Revenue growth expected with Fast LNG fully operational.
- Puerto Rico gas supply contract extension to drive stable revenue.
- Brazil power plant development progressing, with auctions expected in June 2025.
- Successful debt refinancing strengthens balance sheet.
- Adjusted EBITDA expected to remain strong with cost optimizations.
Challenges Ahead
- Debt refinancing costs weighed heavily on profitability.
- Increased competition in the LNG market could pressure margins.
- Regulatory delays may impact project timelines.
- Macroeconomic conditions could affect energy demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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