Financial Performance - Total revenues for the three months ended September 30, 2024, were $193,419 thousand, compared to $275,471 thousand for the same period in 2023, representing a decrease of approximately 30%[12] - Net income for the three months ended September 30, 2024, was $45,546 thousand, slightly down from $46,505 thousand in the same period of 2023, indicating a decrease of about 2%[12] - Operating income for the three months ended September 30, 2024, was $59,739 thousand, compared to $67,498 thousand for the same period in 2023, reflecting a decline of approximately 11%[12] - Net income attributable to shareholders for the three months ended September 30, 2024, was $8,955 thousand, down from $13,892 thousand in the same period of 2023, reflecting a decrease of approximately 36%[12] - Comprehensive income attributable to shareholders for the three months ended September 30, 2024, was $7,489 thousand, down from $14,723 thousand in the same period of 2023, indicating a decrease of approximately 49%[13] - The company reported a decrease in direct cost of gas sales to $41,399 thousand for the three months ended September 30, 2024, compared to $106,109 thousand for the same period in 2023, representing a significant reduction of approximately 61%[12] - The company reported a net income of $36,591,000 for the nine months ended September 30, 2024, compared to $45,546,000 for the same period in 2023, a decrease of 19.7%[14] - The total comprehensive income for the nine months ended September 30, 2024, was $1,380,400,000, down from $1,882,600,000 for the same period in 2023, a decline of 26.6%[14] Assets and Liabilities - Cash and cash equivalents increased to $608,447 thousand as of September 30, 2024, up from $555,853 thousand at the end of 2023, marking an increase of about 9%[9] - Total current assets rose to $763,975 thousand as of September 30, 2024, compared to $699,612 thousand at the end of 2023, representing an increase of approximately 9%[9] - Total liabilities decreased to $981,736 thousand as of September 30, 2024, down from $1,051,025 thousand at the end of 2023, indicating a reduction of about 7%[10] - The company’s total assets as of September 30, 2024, were $2,500,000,000, reflecting a growth of 5% compared to the previous quarter[14] - As of September 30, 2024, total long-term debt, net is $299.206 million, down from $333.367 million as of December 31, 2023, representing a decrease of approximately 10.2%[46] - The company’s total debt as of September 30, 2024, was $351.300 million, down from $383.193 million as of December 31, 2023, a decrease of approximately 8.3%[46] Equity and Shareholder Information - Total equity as of September 30, 2024, was $1,880,600,000, compared to $1,848,800,000 as of June 30, 2024, reflecting an increase of 1.7%[14] - The balance of retained earnings as of September 30, 2024, was $59,715,000, indicating a growth from $51,432,000 as of June 30, 2024[14] - The total outstanding Class A Common Stock decreased from 26,263,403 shares on January 1, 2024, to 24,687,324 shares by September 30, 2024, reflecting a decline in ownership percentage from 24.3% to 23.1%[52] - During the nine months ended September 30, 2024, the company repurchased 1,625,784 shares of Class A Common Stock at a weighted average price of $17.24 per share, totaling approximately $28.0 million[56] - The company declared a dividend of $1,529,000 for Class A Common Stock for the quarter ended September 30, 2024, with a dividend per share of $0.060[54] Cash Flow and Expenditures - Cash flows from operating activities for the nine months ended September 30, 2024, were $194.818 million, compared to $195.274 million in 2023, indicating a stable cash flow performance[17] - The company made capital expenditures of $49.706 million during the nine months ended September 30, 2024, compared to $304.426 million in the same period of 2023[17] - Cash, cash equivalents, and restricted cash at the end of the period were $626.485 million, up from $626.182 million at the end of September 2023[17] - The company reported cash paid for taxes of $18.9 million for the nine months ended September 30, 2024, compared to $19.3 million for the same period in 2023[95] Revenue Recognition and Contracts - The Company recognized revenue from gas sales at the point of transfer to the customer, typically when LNG is regasified and injected into a pipeline[26] - The Company’s gas sales revenues are recognized at the point in time when each unit of natural gas or LNG is transferred to the control of the customer[26] - Revenue from contracts with customers for the nine months ended September 30, 2024, reached $576,865 million, compared to $918,899 million for the same period in 2023[73] - Revenue from leases for the nine months ended September 30, 2024, is $414,555,000, up from $338,040,000 in 2023, indicating an increase of about 22.6%[68] - Operating lease income for the three months ended September 30, 2024, is $120,900,000, compared to $102,948,000 in 2023, representing an increase of approximately 17.5%[68] Derivative Instruments and Risk Management - The fair value of derivative financial instruments as of September 30, 2024, included current assets of $761 thousand and non-current assets of $213 thousand, with net derivative liabilities of $(641) thousand[38] - The Company reported derivative financial instruments with gross notional values of $226.783 million as of September 30, 2024[36] - The company has entered into long-term interest rate swap agreements to hedge a portion of its exposure to changes in interest rates associated with external bank loans[153] - The company may utilize derivative instruments to manage market risks, including changes in interest rates and foreign currency exchange rates[152] - The company is exposed to commodity price risk primarily through purchases of LNG, with no commodity derivative instruments held as of September 30, 2024[154] Taxation - The provision for income taxes for Q3 2024 was $6.2 million, down from $8.2 million in Q3 2023, reflecting a decrease in the geographical distribution of income[87] - The effective tax rate for Q3 2024 was 11.9%, compared to 15.0% in Q3 2023, primarily due to changes in income distribution and tax regimes[87] Stock-Based Compensation - Stock-based compensation expense for the three months ended September 30, 2024, was $1,966 million, up from $1,129 million in the same period of 2023[78] - The company recognized long-term incentive compensation expense of $5,263 million for the nine months ended September 30, 2024, compared to $2,560 million in 2023[78] - The company had 303,947 stock options outstanding as of September 30, 2024, with a weighted average exercise price of $24.00[79] - Unvested restricted stock units increased to 674,105 shares as of September 30, 2024, with $8.5 million in unrecognized compensation costs expected to be recognized over 2.0 years[82]

Excelerate Energy (EE) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.38%. A quarter ago, it was expected that this provider of floating liquified natural gas terminals would post earnings of $0.32 per share when it actually produced earnings of $0.26, delivering a surprise of -18. ...

Financial Performance - Reported Net Income of $45.5 million for Q3 2024, an increase from $33.3 million in Q2 2024[2] - Adjusted EBITDA for Q3 2024 was $92.3 million, up from $89.0 million in Q2 2024[2] - Full Year 2024 Adjusted EBITDA guidance raised to a range of $335 million to $345 million[2] - Revenues for Q3 2024 were $193.4 million, compared to $183.3 million in Q2 2024[3] - Operating Income for Q3 2024 was $59.7 million, up from $49.9 million in Q2 2024[3] - Total revenues for Q3 2024 reached $193.4 million, a 5.9% increase from $183.3 million in Q3 2023[24] - Operating income increased to $59.7 million, up 19.4% from $49.9 million in the same period last year[24] - Net income attributable to shareholders was $8.96 million, compared to $6.67 million in Q3 2023, representing a 34.3% increase[24] - Basic net income per common share rose to $0.36, up from $0.27 in Q3 2023, reflecting a 33.3% increase[24] - Net income for the three months ended September 30, 2024, was $45,546,000, compared to $33,277,000 for the same period in 2023, representing a year-over-year increase of approximately 37%[29] - Adjusted EBITDA for the three months ended September 30, 2024, was $92,289,000, compared to $88,963,000 for the same period in 2023, showing a growth of about 3%[29] Cash and Assets - As of September 30, 2024, Excelerate had $608.4 million in cash and cash equivalents[7] - Cash and cash equivalents increased to $608.4 million as of September 30, 2024, compared to $555.9 million at the end of 2023[25] - Total assets slightly increased to $2.86 billion from $2.86 billion at the end of 2023[25] - Total equity rose to $1.88 billion, up from $1.81 billion at the end of 2023[26] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $194.8 million, compared to $195.3 million in the same period last year[27] Dividends and Stock - Quarterly cash dividend increased by 140% to $0.06 per share, payable on December 5, 2024[2] - The company repurchased $27.2 million of Class A Common Stock during the quarter[27] Expenses and Provisions - Interest expense decreased to $15,122,000 in the latest quarter from $15,476,000 in the prior year, reflecting a reduction of approximately 2%[29] - Provision for income taxes was $6,158,000 for the three months ended September 30, 2024, down from $7,427,000 in the same period last year, indicating a decrease of about 17%[29] - Depreciation and amortization expense decreased to $23,031,000 from $30,400,000 year-over-year, a reduction of approximately 24%[29] - Long-term incentive compensation expense increased to $1,966,000 from $1,920,000, reflecting a rise of about 2%[29] Strategic Initiatives - Excelerate signed medium-term agreements for LNG purchases and sales totaling approximately 0.65 million tonnes[5] - Strategic partnership with PetroVietnam Technical Services Corporation established to explore LNG import solutions in Vietnam[6] Future Outlook - Committed Growth Capital for 2024 expected to range between $70 million and $80 million[9] - The company provided an outlook for 2024E Adjusted EBITDA with a low case of $335,000,000 and a high case of $345,000,000[29] - Income before income taxes for the 2024E forecast is estimated to be between $162,000,000 and $181,000,000[29] - The company reported an increase in accretion expense to $466,000 from $463,000 year-over-year, a slight increase of about 1%[29] - The company has not reconciled the Adjusted EBITDA to net income due to the complexity of estimating without unreasonable effort[29]

Excelerate Energy (EE) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Novem ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Class A Common Stock, $0.001 par value per share EE New York Stock Exchange FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ | --- | --- | --- | |----------------------------------------- ...

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q2 2024 was $89 million, an increase of $14 million or approximately 18% compared to the previous quarter [13] - Total debt, including finance leases, stood at $1,734 million, with cash and cash equivalents of $609 million [14] - The company raised its adjusted EBITDA guidance for 2024 to a range of $320 million to $340 million [15] Business Line Data and Key Metrics Changes - The company continues to invest in its fleet, with maintenance CapEx for the quarter at $21 million and approximately $32 million year-to-date [13] - The newbuild FSRU named 3407 is on schedule for delivery in June 2026, with engineering and fabrication work underway [5][6] Market Data and Key Metrics Changes - The planned LNG import terminal in Vietnam is expected to have a total import capacity of 1.2 million tonnes per annum, with operations anticipated to commence in 2027 [9] - The integrated LNG terminal project in South Central Alaska is targeted to start commercial operations in 2028 [10] Company Strategy and Development Direction - The company is focused on three key areas for value creation: acquiring ownership interest in LNG regasification terminals, establishing a diversified LNG portfolio, and investing in downstream natural gas infrastructure [5] - The company is integrating modular reliquefaction kits onboard its vessels to improve operational efficiency and enhance service value [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate challenging conditions, particularly in Cook Inlet, and emphasized the importance of reliable energy solutions [17][18] - The company remains optimistic about the demand for LNG, particularly in emerging markets like Vietnam and Alaska, despite political changes in Bangladesh [11][52] Other Important Information - The company purchased 674,000 shares for $11 million under its share repurchase program, utilizing 40% of the $50 million authorized [15] - Management highlighted the importance of maintaining a healthy balance sheet while pursuing growth opportunities [27] Q&A Session Summary Question: Concerns regarding the Alaska proposal and technical solutions - Management acknowledged the challenges posed by extreme tidal ranges in Cook Inlet but expressed confidence in developing suitable technical solutions [17][18] Question: Details on the Northern Vietnam terminal project - Management indicated that they have been exploring opportunities in Vietnam for a long time and believe the project has strong fundamentals [24][26] Question: Balancing growth and shareholder returns - Management reiterated that growth is the priority, with plans to maintain dividends and execute share repurchases opportunistically [27] Question: Vessel requirements for upcoming projects - Management noted that they are evaluating different vessel types based on project needs and are committed to growing their fleet [30][31] Question: Timing and execution risks for new builds versus conversions - Management explained that new builds typically take 3 to 3.5 years, while conversions may be quicker but come with execution risks [66]

Excelerate Energy (EE) came out with quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -18.75%. A quarter ago, it was expected that this provider of floating liquified natural gas terminals would post earnings of $0.21 per share when it actually produced earnings of $0.24, delivering a surprise of 1 ...

Financial Performance - Reported Net Income of $33.3 million for Q2 2024, an increase from $28.1 million in Q1 2024 and $29.6 million in Q2 2023[2] - Adjusted EBITDA for Q2 2024 was $89.0 million, up from $75.4 million in Q1 2024 and $88.6 million in Q2 2023[4] - Revenues for Q2 2024 were $183.3 million, a decrease from $200.1 million in Q1 2024 and $432.4 million in Q2 2023[4] - Net income attributable to shareholders increased to $6,672,000 in Q2 2024, up from $6,324,000 in Q2 2023, representing an increase of 5.5%[20] - Operating income for Q2 2024 was $49,881,000, compared to $45,159,000 in Q2 2023, reflecting a growth of 6.0%[20] - Total revenues for Q2 2024 were $183,333,000, a decrease of 8.3% from $200,113,000 in Q2 2023[20] - Adjusted gross margin for Q2 2024 was $105,581,000, compared to $89,621,000 in Q2 2023, indicating a growth of 18.0%[24] - Net cash provided by operating activities for the six months ended June 30, 2024, was $155,040,000, significantly higher than $24,479,000 for the same period in 2023[23] Cash and Assets - As of June 30, 2024, Excelerate had $609 million in cash and cash equivalents, with $349.9 million of undrawn capacity under its revolver[7] - Cash and cash equivalents increased to $609,082,000 as of June 30, 2024, from $555,853,000 at the end of 2023, marking a rise of 9.5%[21] - Total assets as of June 30, 2024, were $2,867,432,000, slightly up from $2,860,379,000 at the end of 2023[21] - Current liabilities decreased to $205,021,000 as of June 30, 2024, from $203,756,000 at the end of 2023[21] Expenses and Projections - The increase in net income and Adjusted EBITDA for Q2 2024 was primarily due to charter rate increases executed during 2023 and increased interest income[5] - Maintenance capital expenditures for 2024 are still expected to range between $50 million and $60 million[8] - Interest expense decreased to $15,476,000 from $17,072,000 year-over-year[25] - Provision for income taxes increased to $7,427,000 from $6,901,000 year-over-year[25] - Depreciation and amortization expense rose to $30,400,000 from $22,910,000 year-over-year[25] - Long-term incentive compensation expense increased to $1,920,000 from $1,377,000 year-over-year[25] - The company anticipates interest expense for 2024E to be approximately $65,000,000[25] - Depreciation and amortization expense for 2024E is estimated to be around $106,000,000[25] Future Developments - The company signed a term sheet to co-develop a greenfield LNG import terminal in northern Vietnam with a total import capacity of 1.2 million tonnes per annum[6] - The first phase of the Northern Vietnam LNG Terminal is expected to have a capacity of 0.7 MTPA and commence operations in 2027[6] - Full-year guidance for Adjusted EBITDA has been raised to a range of $320 million to $340 million for 2024[8] - The company projects 2024 Adjusted EBITDA in a range of $320 million to $340 million[25] - Income before income taxes for the 2024E low case is projected at $141,000,000[25]

Excelerate Energy (EE) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term. Shares of this provider of floating liquified natural gas terminals have returned +4.6% over the past month versus the Zacks S&P 500 composite's +6.1% change. The Zacks Alternative Energy - Other industry, to which Excelerate Energy belongs, has gained 14.2% over this period. Now the key question is: Where could th ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Excelerate Energy (EE) . Excelerate Energy currently has an aver ...