Financial Performance - Total revenues for the three months ended March 31, 2025, increased to $315,090,000, up 57.4% from $200,113,000 in the same period of 2024[16] - Net income attributable to shareholders for Q1 2025 was $11,387,000, representing an 80.5% increase compared to $6,324,000 in Q1 2024[16] - Operating income for the three months ended March 31, 2025, was $65,716,000, compared to $45,159,000 in Q1 2024, reflecting a growth of 45.5%[16] - Comprehensive income attributable to shareholders for Q1 2025 was $10,975,000, compared to $6,871,000 in Q1 2024, reflecting a 60.9% increase[18] - For the three months ended March 31, 2025, net income was $52.123 million, a 85.1% increase compared to $28.140 million in the same period of 2024[22] - The diluted earnings per share for the three months ended March 31, 2025, was $0.46, compared to $0.24 for the same period in 2024[73] Cash and Liquidity - Cash and cash equivalents as of March 31, 2025, were $619,469,000, an increase of 15.2% from $537,522,000 at the end of 2024[15] - Cash, cash equivalents, and restricted cash at the end of Q1 2025 totaled $637.605 million, up from $596.652 million at the end of Q1 2024[22] - Net cash provided by operating activities for Q1 2025 was $154.809 million, significantly higher than $64.661 million in Q1 2024[22] - The Company had $350.0 million of undrawn capacity available under the EE Revolver[59] Assets and Liabilities - Total current assets as of March 31, 2025, were $779,819,000, up from $754,279,000 at the end of 2024, indicating a growth of 3.4%[15] - The company’s total assets increased to $2,917,443,000 as of March 31, 2025, from $2,883,215,000 at the end of 2024, a growth of 1.2%[15] - The total long-term debt, net as of March 31, 2025, was $275.638 million, a decrease from $286.760 million as of December 31, 2024, reflecting a reduction of about 3.9%[48] - The current portion of long-term debt remained stable at $46,993,000 as of March 31, 2025, compared to $46,793,000 at the end of 2024[15] Revenue Sources - The company reported a significant increase in gas sales, reaching $166,725,000 in Q1 2025, compared to $43,119,000 in Q1 2024, marking a growth of 286.5%[16] - Revenue from leases was $132.78 million, slightly up from $132.15 million year-over-year, with operating lease income contributing $115.93 million[82] - Gas sales revenue surged to $166.73 million, compared to $43.12 million in the prior year, reflecting a significant increase in demand[81] Strategic Initiatives - Excelerate Energy is in the process of acquiring a business in Jamaica for an initial purchase price of $1.055 billion, expected to close in Q2 2025[25][26] - The company plans to utilize cash reserves for the pending acquisition and ongoing operational needs, reflecting a strategic focus on growth and expansion[25][26] - The company signed a 15-year LNG sale and purchase agreement with Petrobangla, expected to deliver 0.85 million tonnes per annum starting in 2026, increasing to 1.0 MTPA from 2028[91] Stock and Equity - The Company repurchased 2,473,787 shares of its Class A Common Stock at a weighted average price of $20.41 per share during the year ended December 31, 2024, totaling approximately $50.0 million[72] - A cash dividend of $0.06 per share of Class A Common Stock was declared for the quarter ended March 31, 2025, payable on June 5, 2025[123] - The company completed an equity offering of 6,956,522 shares at a public offering price of $26.50 per share, resulting in net proceeds of approximately $201.9 million after expenses[120] Expenses and Costs - The company reported depreciation and amortization expenses of $21.643 million for Q1 2025, slightly down from $22.910 million in Q1 2024[22] - The Company reported a depreciation expense of $20.8 million for the three months ended March 31, 2025, compared to $22.0 million for the same period in 2024, indicating a decrease of approximately 5.5%[45] - The company reported total lease costs of $4.25 million for Q1 2025, down from $4.64 million in Q1 2024[80] Market Risks - The company is exposed to market risks including interest rates, natural gas and LNG prices, and foreign currency exchange rates, and may utilize derivative instruments to manage these risks[205] - The company has no financial commodity derivative instruments as of March 31, 2025, to mitigate commodity price risk associated with LNG purchases[208] Taxation - The provision for income taxes for the three months ended March 31, 2025, was $6.0 million, down from $6.9 million in 2024, with an effective tax rate of 10.4% compared to 19.7%[106]

Financial Data and Key Metrics Changes - In Q1 2025, the company reported adjusted EBITDA of $100 million, an increase of $9 million or approximately 10% compared to the previous quarter [19] - Adjusted net income for the first quarter was $56 million, a sequential increase of $10 million or up 20% compared to Q4 2024 [19] - Total debt, including finance leases, was $677 million, with cash and cash equivalents of $619 million as of March 31 [20] Business Line Data and Key Metrics Changes - The strong financial results were primarily driven by the core regasification infrastructure business, supported by a high-quality take-or-pay customer contract portfolio, which represents over 90% of the estimated full-year adjusted EBITDA [10][19] - Operational reliability remained above 99.9%, exceeding all primary safety targets [11][12] Market Data and Key Metrics Changes - The company is expanding its LNG terminal presence in key natural gas markets globally, with ongoing discussions regarding the deployment of the new FSRU under construction [6][13] - The acquisition of the integrated LNG infrastructure and power platform in Jamaica is expected to enhance long-term contract revenue and margins while diversifying geographic exposure [15][16] Company Strategy and Development Direction - The company is focused on optimizing and expanding its fleet asset strategy, with the construction of Hull 3407 on track for delivery in mid-2026 [13] - The acquisition in Jamaica is a significant step in the execution of the downstream growth strategy, expected to be immediately accretive to EPS and enhance operating cash flow [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position and the opportunities ahead, emphasizing the resilience of the business model amid macroeconomic uncertainties [18][75] - The company is seeing increased interest in LNG imports from countries looking to balance trade deficits, indicating a favorable environment for growth [70][71] Other Important Information - The company completed an equity offering of 8 million shares at $26.5 per share, raising $212 million, and closed an $800 million offering of senior unsecured notes [22] - The adjusted EBITDA guidance for 2025 has been increased to a range of $345 million to $365 million, excluding any incremental EBITDA from the Jamaica acquisition [23] Q&A Session Summary Question: What are the remaining steps to close the Jamaica transaction? - Management indicated that they are well into the closing process, with routine deliverables and consents expected to be completed without major impediments [29] Question: What are the growth opportunities for the Jamaica assets? - Management highlighted lower hanging opportunities for growth and incremental gas and LNG sales post-acquisition, leveraging Jamaica's geographical location as a hub [30][32] Question: Update on Hull 3407 and market dynamics? - Management noted serious discussions regarding Hull 3407, emphasizing its best-in-class features and the interest from various counterparties [34][35] Question: How does U.S. international diplomacy impact growth opportunities? - Management stated that the company is largely tariff-proof and sees increasing demand for LNG imports from countries needing to rebalance trade deficits [68][70] Question: Updates on LNG vessel conversion plans? - Management confirmed ongoing discussions and engineering advancements for LNG vessel conversions, with plans to acquire an asset this year [80][81]

Financial Data and Key Metrics Changes - In Q1 2025, the company reported adjusted EBITDA of $100 million, an increase of $9 million or approximately 10% compared to the previous quarter [17] - Adjusted net income for the first quarter was $56 million, up $10 million or 20% sequentially from Q4 2024 [17] - Total debt, including finance leases, stood at $677 million, with cash and cash equivalents of $619 million as of March 31, 2025 [18] Business Line Data and Key Metrics Changes - The core regasification infrastructure business drove the strong financial results, with over 90% of estimated full-year adjusted EBITDA supported by a high-quality take-or-pay customer contract portfolio [8][17] - Operational reliability exceeded 99.9% during the quarter, reflecting the company's commitment to operational excellence [9] Market Data and Key Metrics Changes - The company is expanding its LNG terminal presence in key natural gas markets globally, with a focus on enhancing energy security and supporting a lower carbon future [5][6] - The acquisition of the integrated LNG infrastructure and power platform in Jamaica is expected to enhance long-term contract revenue and margins while diversifying geographic exposure [12][13] Company Strategy and Development Direction - The company is pursuing strategic growth catalysts, including the acquisition of the Jamaica LNG platform, which is expected to be immediately accretive to EPS and enhance operating cash flow [14][15] - The construction of a new FSRU, Hull 3407, is on track for delivery in mid-2026, with ongoing discussions regarding its deployment [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's robust business model, which is not significantly impacted by tariffs, and highlighted the strong demand for LNG imports in various markets [71][66] - The company raised its adjusted EBITDA guidance for 2025 to a range of $345 million to $365 million, excluding contributions from the Jamaica acquisition [21] Other Important Information - The company completed an equity offering of 8 million shares at $26.5 per share, raising $212 million, and closed an $800 million offering of senior unsecured notes [20] - Fitch Ratings and S&P Global Ratings assigned inaugural credit ratings of BB and BB+, respectively, reflecting the company's strong financial health [19] Q&A Session Summary Question: What are the remaining steps to close the Jamaica transaction? - Management indicated that they are well into the closing process, with routine deliverables and consents expected to be completed without major impediments [27] Question: What are the growth opportunities in Jamaica? - Management highlighted lower hanging fruit opportunities and incremental drivers for growth, emphasizing the strategic fit of the Jamaica assets [28][30] Question: Update on Hull 3407 and market dynamics? - Management confirmed serious discussions regarding Hull 3407, with intense interest from potential counterparties [32][33] Question: Impact of international gas prices on demand? - Management noted that lower LNG prices have increased interest from developing countries, leading to potential fast-track projects [93][94] Question: Updates on LNG vessel conversion plans? - Management confirmed ongoing discussions and engineering advancements for LNG vessel conversions, with plans to acquire an asset this year [75][76] Question: Update on Vietnam MOU? - Management stated ongoing discussions with PetroVietnam and a focus on enhancing the relationship, with positive momentum observed [84] Question: Maintenance and operations impact on EBITDA? - Management indicated that some overachievement in Q1 was due to timing of costs, with expectations of catch-up in subsequent quarters [87]

Group 1: Earnings Performance - Excelerate Energy reported quarterly earnings of $0.49 per share, exceeding the Zacks Consensus Estimate of $0.39 per share, and up from $0.24 per share a year ago [1] - The earnings surprise for the quarter was 25.64%, with the company previously expected to post earnings of $0.32 per share but actually producing $0.40 per share [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times [2] Group 2: Revenue Performance - The company posted revenues of $315.09 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 53.54%, compared to year-ago revenues of $200.11 million [3] - Excelerate Energy has topped consensus revenue estimates two times over the last four quarters [3] Group 3: Stock Performance and Outlook - Excelerate Energy shares have declined approximately 15.3% since the beginning of the year, while the S&P 500 has declined by 4.7% [4] - The company's earnings outlook is mixed, with current consensus EPS estimate for the coming quarter at $0.30 on revenues of $248.17 million, and $1.38 on revenues of $915.22 million for the current fiscal year [8] - The Zacks Industry Rank for Alternative Energy - Other is currently in the bottom 37% of over 250 Zacks industries, indicating potential challenges for stock performance [9]

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Financial Results - Excelerate Energy, Inc. announced a preliminary financial result for Q1 2025, with a term loan outstanding of $163.6 million as of December 31, 2024[7]. Credit Agreements - The company entered into a Fifth Amendment to its Senior Secured Credit Agreement, extending the maturity of the revolving facility to March 17, 2029, and increasing commitments to $500 million[5]. - The Fourth Amendment to the Credit Agreement included additional covenant baskets to permit the Pending Acquisition and incurrence of related debt[12]. Acquisitions - Excelerate Energy Limited Partnership plans to acquire New Fortress Energy, Inc.'s business in Jamaica for $1.055 billion, contingent upon certain conditions[5]. - The company intends to offer $700 million in Senior Notes due 2030, with proceeds to fund the Pending Acquisition and repay the Term Loan[10].

Company Overview - Excelerate Energy (EE) is expected to report a year-over-year increase in earnings driven by higher revenues for the quarter ended March 2025, with a consensus EPS estimate of $0.39, reflecting a +62.5% change [3][12] - Revenues are anticipated to reach $205.21 million, marking a 2.6% increase from the previous year [3] Earnings Expectations - The earnings report is scheduled for release on May 7, 2025, and could influence stock movement based on whether actual results exceed or fall short of expectations [2] - The consensus EPS estimate has been revised down by 11.81% over the last 30 days, indicating a reassessment by analysts [4] Earnings Surprise Prediction - The Zacks Earnings ESP model shows a positive Earnings ESP of +9.85% for Excelerate Energy, suggesting a likelihood of beating the consensus EPS estimate [11][10] - The company currently holds a Zacks Rank of 3, indicating a hold position, which combined with the positive Earnings ESP suggests a potential earnings beat [11] Historical Performance - In the last reported quarter, Excelerate Energy exceeded the expected EPS of $0.32 by delivering $0.40, resulting in a +25% surprise [12] - Over the past four quarters, the company has beaten consensus EPS estimates three times [13] Industry Comparison - Constellation Energy Corporation (CEG), another player in the alternative energy sector, is expected to report an EPS of $2.14 for the same quarter, reflecting a +17.6% year-over-year change, with revenues projected at $4.46 billion, down 27.7% from the previous year [17] - CEG's consensus EPS estimate has been revised up by 1.6% in the last 30 days, and it also has a positive Earnings ESP of 2.18%, indicating a likely earnings beat [18]

Core Viewpoint - Excelerate Energy is positioned well to continue its streak of beating earnings estimates, having consistently exceeded expectations in recent quarters [1][2]. Group 1: Earnings Performance - For the most recent quarter, Excelerate Energy reported earnings of $0.40 per share, surpassing the expected $0.32 per share, resulting in a surprise of 25% [2]. - In the previous quarter, the company reported $0.35 per share against an expectation of $0.32 per share, achieving a surprise of 9.38% [2]. - The average surprise for the last two quarters was 17.19% [1]. Group 2: Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for Excelerate Energy, with a positive Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [5][8]. - The current Earnings ESP for Excelerate Energy is +1.84%, suggesting analysts have recently become more optimistic about the company's earnings prospects [8]. - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise [6]. Group 3: Zacks Rank and Future Outlook - Excelerate Energy holds a Zacks Rank of 1 (Strong Buy), which, combined with its positive Earnings ESP, indicates a high probability of another earnings beat [8]. - The next earnings report for Excelerate Energy is expected to be released on May 7, 2025 [8].

Core Viewpoint - Excelerate Energy has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for Excelerate Energy for the fiscal year ending December 2025 is projected at $1.46 per share, reflecting a 15% increase from the previous year's reported figure [9]. - Over the past three months, the Zacks Consensus Estimate for Excelerate Energy has risen by 1.2%, indicating a trend of increasing earnings estimates [9]. Zacks Rating System - The Zacks rating system is based solely on changes in a company's earnings picture, making it a reliable tool for investors to gauge stock performance [2][3]. - The system classifies stocks into five groups, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, highlighting Excelerate Energy's strong position in terms of earnings estimate revisions [10][11]. Market Implications - The upgrade to Zacks Rank 1 suggests that Excelerate Energy's improving earnings outlook could lead to increased buying pressure and a potential rise in its stock price [4][6]. - The correlation between earnings estimate revisions and stock price movements underscores the importance of tracking these revisions for investment decisions [7].

Core Insights - The U.S. Energy Department reported a higher-than-expected increase in natural gas supplies, with stockpiles rising by 37 billion cubic feet (Bcf) for the week ended March 21, surpassing analysts' expectations of a 25 Bcf increase [2]. - Despite bearish inventory data, natural gas prices rose, closing at $4.065, marking a 2% increase for the week and a 13.4% gain in the first quarter of 2025 [4]. - The market outlook remains positive, with U.S. natural gas inventories over 6% below the five-year average, supporting prices around $4/MMBtu in the near term [7]. Industry Overview - Natural gas stockpiles in the lower 48 states are currently at 1,744 Bcf, which is 557 Bcf (24.2%) below the 2024 level and 122 Bcf (6.5%) lower than the five-year average [3]. - The total supply of natural gas averaged 110.8 Bcf per day, with daily consumption rising to 107.7 Bcf, reflecting increased residential and commercial usage [3]. - The U.S. has become the world's largest LNG supplier, with exports averaging 16 Bcf per day, driven by European and Asian demand for American LNG [6]. Company Insights - **Expand Energy (EXE)**: The company has solidified its position as the largest natural gas producer in the U.S. following a merger, with a projected 422.7% year-over-year increase in 2025 earnings per share [8][10]. - **Excelerate Energy**: Specializing in LNG infrastructure, the company represents 20% of the global Floating Storage Regasification Unit (FSRU) fleet, with a projected 11.8% year-over-year growth in 2025 earnings per share [11][12]. - **The Williams Companies**: Positioned to benefit from long-term U.S. natural gas demand growth, the company has a projected 14.1% year-over-year growth in 2025 earnings per share [13][14].