New Fortress Energy(NFE)

Search documents
New Fortress Energy(NFE) - 2023 Q2 - Quarterly Report
2023-08-08 21:15
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to__________ Commission File Number: 001-38790 New Fortress Energy Inc. (Exact Name of Registrant as Specified in its Charter) (State or other ...
New Fortress Energy(NFE) - 2023 Q2 - Earnings Call Transcript
2023-08-08 18:47
Financial Data and Key Metrics Changes - The company reported a revenue of $561 million for Q2 2023, with adjusted EBITDA of $246 million, leading to a total of $686 million for the first half of 2023 [111] - The EBITDA guidance for 2023 is now $1.6 billion, with a forecast of $2.4 billion for 2024, reflecting a slight reduction due to project delays [28][29] - The net income for the quarter was $120 million, translating to $0.58 per share on a diluted basis [112] Business Line Data and Key Metrics Changes - The company is transitioning from a revenue mix of 50% merchant sales to nearly all customer sales, enhancing the quality and reliability of earnings [29] - Segment operating margins were reported at $239 million for terminals and $54 million for the ship segment [82] Market Data and Key Metrics Changes - The company has significantly increased its LNG capacity, growing from 40% of 1 ton capacity at the start to 620 TBtus today, with a projection of 920 TBtus next year [23] - The company is expanding its operations in Brazil with two large terminals coming online, increasing throughput capacity by nearly 35% [30] Company Strategy and Development Direction - The company is focused on becoming a major player in the green hydrogen sector, with plans for new facilities in the Northeastern US, Pacific Northwest, and Gulf Coast [14] - The strategy includes leveraging existing infrastructure to minimize additional capital expenditures while maximizing revenue potential [32] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant commercial opportunities in Puerto Rico, viewing it as a potential model for energy transformation [3][70] - The company is optimistic about the future, expecting immediate impacts on cash flow and deleveraging as projects come online [5][20] Other Important Information - The company has invested $3.2 billion in infrastructure projects that are transitioning to revenue-generating assets, which is expected to significantly enhance revenue potential [22] - The company has closed on an additional $500 million in financing, including a $400 million term loan against FLNG 1 [114] Q&A Session Summary Question: What is the outlook for CapEx guidance for 2024? - Management indicated a significant reduction in CapEx guidance due to the transition from construction to operational phases, allowing for easier financing [123][140] Question: Can you provide context on Puerto Rico's contribution to future earnings? - Management refrained from providing specific guidance on terminal or country basis but acknowledged the significant potential in Puerto Rico [151]
New Fortress Energy(NFE) - 2023 Q2 - Earnings Call Presentation
2023-08-08 12:41
2020 2021 2022 2023(13) 2024(13) Mexico 150 3 9.53% 15.74% 26.17% 26.45% 21.74% Puerto Rico (Increased Capacity) 85 2 Barcarena 150 3 Santa Catarina 150 3 Nicaragua 150 3 Terminal capacity increasing >100% by YE 2024(13) ~18 MTPA of LNG terminal capacity by YE 2024(13) Rule of thumb: ~50 TBtu = 1 tonneCapacity Utilization Total 920 18 12 Capacity & Customers Continued growth in utilization & capacity drive earnings growth & quality Two pathways to accelerate growth: 1. increasing utilization & 2. entering n ...
New Fortress Energy(NFE) - 2023 Q1 - Quarterly Report
2023-05-04 20:19
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to__________ Commission File Number: 001-38790 New Fortress Energy Inc. (Exact Name of Registrant as Specified in its Charter) (State or other ...
New Fortress Energy(NFE) - 2023 Q1 - Earnings Call Transcript
2023-05-04 16:55
New Fortress Energy Inc. (NASDAQ:NFE) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET Company Participants Patrick Hughes ??? Investor Relations Wes Edens ??? Chairman and Chief Executive Officer Brandon Bonfig ??? Assistant Vice President Chris Guinta ??? Chief Financial Officer Andrew Dete ??? Managing Director, Commercial Conference Call Participants Ben Nolan ??? Stifel Devin McDermott ??? Morgan Stanley Sam Margolin ??? Wolfe Research Chris Robertson ??? Deutsche Cameron Lochridge ??? Bank of A ...
New Fortress Energy(NFE) - 2023 Q1 - Earnings Call Presentation
2023-05-04 14:45
May 2023 Q1 2023 Investor Presentation 2. Terminals 4. LNG Market & Supply 6. Appendix Operating Results | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------|-------|-----------------|------------------------|-----------|-------------------|-----------|-----------------------------------------------------------------------| | | | | | | | | | | Achieved Adj. EBITDA(2) of $440mm for Q1 2023 | | | Confirming Guidance(1) | | of $2.0bn in 2023 | | FY Segment Revenue ...
New Fortress Energy(NFE) - 2022 Q4 - Annual Report
2023-03-01 18:46
Table of Contents New Fortress Energy Inc. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Exact Name of Registrant as Specified in its Charter) Delaware 83-1482060 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1 ...
New Fortress Energy(NFE) - 2022 Q4 - Earnings Call Presentation
2023-02-28 16:19
Our vessel portfolio meets current marine needs, with room for growth We own or control 29 vessels 4. FLNG Update 6. Appendix Financial Results | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------------------------|---------|---------|---------|---------|---------|-------|-----------------------------------------------------| | | Q4 2021 | Q4 2022 | YoY Δ | YE 2021 | YE 2022 | YoY Δ | | | Total Seg. Revenue ($mm) | $808 | $564 | ($244) | $1,696 | $2,613 | ...
New Fortress Energy(NFE) - 2022 Q4 - Earnings Call Transcript
2023-02-28 16:16
New Fortress Energy Inc. (NASDAQ:NFE) Q4 2022 Earnings Conference Call February 28, 2023 8:00 AM ET Company Participants Patrick Hughes - Investor Relations Wes Edens - Chairman and Chief Executive Officer Chris Guinta - Chief Financial Officer Andrew Dete - Managing Director, Commercial Cameron MacDougall - Secretary Conference Call Participants Cameron Lochridge - Bank of America Marc Solecitto - Barclays Sam Burwell - Jefferies Sean Morgan - Evercore Greg Lewis - BTIG Martin Malloy - Johnson Rice Operato ...
New Fortress Energy(NFE) - 2022 Q3 - Quarterly Report
2022-11-08 22:03
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 111 W. 19th Street, 8th Floor New York, NY 10011 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (516) 268-7400 For the quarterly period ended September 30, 2022 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tran ...