I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...

New Fortress Energy (NFE) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Company Participants Matthew Reinhardt - Co-General Counsel & Chief Compliance OfficerWesley Edens - Chairman & CEOLeandro Cunha - Managing Director NFE BrazilJeremy Dawson - VP - Business DevelopmentChristopher Guinta - Chief Financial OfficerGregory Lewis - Managing DirectorCraig Shere - Director of ResearchTarek Hamid - Managing Director Conference Call Participants Christopher Robertson - Equity Research Analyst - Vice PresidentWa ...

New Fortress Energy (NFE) Q1 2025 Earnings Call May 14, 2025 04:30 PM ET Speaker0 Good day, and welcome to the NFE First Quarter twenty twenty five Earnings Call. Today's conference is being recorded. At this time, I will be handing the call over to Matt Reinhardt, Managing Director, for introductory remarks. Speaker1 Good afternoon, everyone. Thank you for joining today's conference call, where we will be discussing our first quarter twenty twenty five results. The call is being recorded and will be availa ...

May 2025 Q1 2025 Investor Presentation NewFortr 1. Business Overview 2 2. Financial Results 3. Appendix | Jamaica sale | $1.055bn sale, ~$800mm net, ~$430mm gain | | | | | --- | --- | --- | --- | --- | | FEMA claim | $659mm claim(6), high degree of engagement & expect resolution near-term | | | | | | Leasing surplus FSRUs results in significant income: | | | | | FSRU sub-charters | Eskimo | Freeze | FSRU 3 & 4(7) | Total | | | $143mm | $59mm | $110mm | $312mm (PV 10 = ~$236mm) | | Q4 excess cargo sale | $12 ...

Core Insights - New Fortress Energy (NFE) has consistently surpassed earnings estimates, averaging a 258.33% beat over the last two quarters [1][2] - The company reported earnings of $0.13 per share for the last quarter, exceeding the Zacks Consensus Estimate of $0.06 per share by 116.67% [2] - In the previous quarter, NFE's earnings were $0.05 per share against an expectation of $0.01, resulting in a 400% surprise [2] Earnings Estimates and Predictions - There has been a favorable change in earnings estimates for New Fortress Energy, with a positive Earnings ESP of +45.95%, indicating bullish sentiment among analysts [5][8] - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat [5][8] - Historically, stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [6] Earnings ESP Explanation - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions [7] - A positive Earnings ESP indicates that analysts have recently become more optimistic about the company's earnings prospects [8] - A negative Earnings ESP does not necessarily indicate an earnings miss but reduces the predictive power of the metric [8]

New Fortress Energy (NFE) shares soared 5.1% in the last trading session to close at $5.74. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 44.7% loss over the past four weeks.Being an operator of natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets, the company is banking on mounting clean energy demand. The recent agreement to divest its assets and operations in Jamaic ...

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Group 1 - The focus has shifted towards offshore drilling, supply industry, and shipping, including tankers, containers, and dry bulk [1] - The fuel cell industry is being monitored as it is still in its early stages of development [1] Group 2 - The individual has extensive experience in auditing and trading, having navigated significant market events such as the dotcom bubble and the subprime crisis [2] - The research provided aims to maintain high quality despite language barriers [2]

Debt and Financial Obligations - As of December 31, 2024, the company had approximately $9,027.1 million in aggregate principal amount of indebtedness outstanding on a consolidated basis[189]. - The New 2029 Notes bear an interest rate of 12.000% per annum, significantly increasing the company's annual interest expense[192]. - The company expects to incur additional indebtedness to assist in developing operations and is considering alternative financing options, including the opportunistic sale of non-core assets[193]. - The company may need to refinance existing indebtedness with new debt that could have higher interest rates, increasing fixed costs[191]. - The company has incurred and may incur additional debt or issue equity, which could dilute existing Class A common stockholders and negatively affect the market price of Class A common stock[252]. Liquidity and Operational Risks - The company may face substantial liquidity problems if cash flows from operating activities are insufficient to fund day-to-day operations or debt service obligations[190]. - Joint ventures may restrict operational flexibility and require credit support, potentially leading to adverse effects on the company's business[194]. - The company relies on various sources for additional funding, which may not be available or may come with unfavorable terms[193]. - The company is exposed to risks from weather events and natural disasters, which could materially affect operations and projects[198]. - The company may incur impairments to long-lived assets due to significant negative industry or economic trends[197]. Regulatory and Compliance Risks - Regulatory provisions, such as those from the Dodd-Frank Act, could adversely affect the company's ability to hedge risks associated with its business[196]. - The company is subject to extensive environmental, social, health, and safety regulations, which may lead to increased compliance costs and operational restrictions[200]. - The company may face substantial liabilities and fines for non-compliance with environmental regulations, potentially exceeding insurance coverage limits[202]. - Climate change legislation and regulations could impose more stringent restrictions on greenhouse gas emissions, increasing operational costs and reducing demand for natural gas[205]. - Hydraulic fracturing regulations may become more stringent, potentially raising natural gas prices and adversely affecting the company's pricing advantage[208]. Indigenous Rights and Community Relations - The company must comply with international and national laws regarding indigenous community rights, which could impact operations and lead to construction delays[210]. - The company has entered agreements with some indigenous communities for land use, but failure to obtain necessary authorizations could result in increased costs and operational impacts[212]. - The company is exposed to potential legal challenges regarding the adequacy of existing Brazilian legal requirements for indigenous rights protection[211]. Market and Economic Conditions - Changes in public sentiment regarding fossil fuels may lead to reduced demand for LNG, impacting the company's market position[207]. - The development of offshore natural gas and LNG operations is subject to extensive regulations from Mexican authorities, which may increase operating costs and capital expenditures[214]. - The company's operations are affected by economic, political, and social conditions in various jurisdictions, which could materially impact financial results[236]. - Foreign exchange fluctuations may adversely affect the company's financial condition, as revenues and expenses are incurred in multiple currencies[238]. Corporate Governance and Shareholder Matters - A small number of original investors control a significant portion of voting power, potentially conflicting with the interests of other shareholders[244]. - Concentrated ownership may deter hostile takeovers and limit the ability of other shareholders to influence corporate decisions[245]. - New Fortress Energy Holdings has assigned rights to the Founder Entities to nominate individuals for the board of directors as long as they own at least 5% of Class A common stock[246]. - The company does not expect to pay dividends for the foreseeable future, as any future payments will be at the discretion of the board of directors and subject to various restrictions[251]. Legal and Tax Risks - The company may face significant legal proceedings that could adversely affect its financial position and operations[261]. - A change in tax laws could result in a materially higher tax expense, affecting the company's after-tax profitability[260]. - Non-compliance with trade and economic sanctions could result in severe penalties, affecting access to U.S. capital markets[221]. Operational and Security Risks - Cybersecurity threats pose significant risks to the company's operations and data integrity, potentially affecting business continuity[229]. - The company faces increased capital and operating costs due to the implementation of security technologies and controls, with no assurance that these measures will prevent security breaches[230]. - The company does not maintain insurance against all risks, including business interruption and political risk, which could lead to significant liabilities and losses[231]. - Labor costs are expected to rise, and the company may struggle to attract and retain skilled workers, impacting operations and increasing operating costs[233]. - The company is subject to labor disputes and strikes, particularly in Latin America, which could disrupt operations and increase costs[235]. Stock Market and Financial Performance - The market price of the company's Class A common stock may be volatile, influenced by various factors including operating results and market conditions[239]. - The market price of Class A common stock may fluctuate significantly due to various factors, including market conditions and the company's operational performance[256]. - The company's share price may decline if analysts cease coverage or change recommendations unfavorably[263]. - The COVID-19 pandemic has caused economic disruptions, impacting operations and financial performance, with future crises remaining unpredictable[264]. Commodity and Interest Rate Risks - The company is exposed to commodity price risks, particularly related to LNG prices, which could impact business operations[484]. - A 100-basis point change in market interest rates could affect the fair value of fixed-rate debt by approximately $143 million[486]. - A 100-basis point change in market interest rates would alter annual interest expenses by about $16 million[487]. - The company has entered into foreign exchange forward contracts totaling approximately $211.5 million to mitigate exchange rate risks[488]. - Operations outside Brazil are primarily conducted in U.S. dollars, limiting exposure to foreign currency fluctuations[489].

Financial Data and Key Metrics Changes - The company reported $313 million in EBITDA for Q4 2024, representing a roughly 50% increase over previous guidance [5][10] - Total EBITDA for the full year 2024 was confirmed at $950 million, with guidance for 2025 set at $1 billion [5][121] - The total segment operating margin for Q4 was $240 million, with an annual margin of just under $1.1 billion [101] Business Line Data and Key Metrics Changes - The FLNG asset was highlighted as a significant contributor to earnings, with volumes allowing for portfolio optimization and significant returns [10][22] - The company achieved approximately 120% of nameplate capacity for the FLNG one asset, shipping twelve cargoes totaling approximately 24 TBtu [22][25] - The company is focused on long-term growth in core markets and asset sales for deleveraging [11][12] Market Data and Key Metrics Changes - The company noted excess gas supply versus current base demand, with significant incremental demand expected in core markets over the next few years [14][18] - The upcoming Brazilian capacity auction is anticipated to award between 10 to 15 gigawatts of new and existing power projects, representing a significant growth opportunity [62][64] Company Strategy and Development Direction - The company aims to grow EBITDA by 50% or more over the next two years with minimal CapEx while reducing outstanding debt [8][12] - The strategy includes deleveraging and simplifying the capital structure while reducing debt costs [13][94] - The company is positioned to capitalize on the gas-to-power market opportunities in Puerto Rico and Brazil, with significant potential for growth [36][62] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook for 2025 and beyond, emphasizing the sustainable competitive advantage of their integrated gas-to-power business [5][7] - The geopolitical environment, particularly regarding the Ukraine-Russia conflict, was noted as a factor that could impact market conditions [17] - Management highlighted the importance of operational excellence and community engagement in their projects, particularly in Mexico [24][25] Other Important Information - The company has made significant progress in capital markets activities, raising $409 million in new equity and extending a $900 million revolver to October 2027 [12][93] - The company is focused on asset sales, with expectations to generate $2 billion in net proceeds to pay down corporate debt [94] Q&A Session Summary Question: What is the status of asset sales? - The company is focused on deleveraging through asset sales, with Jamaica being the first asset targeted for sale, generating about $125 million in EBITDA [112][114] Question: How is the company engaging with FEMA? - The company has had productive interactions with FEMA and the Army Corps, focusing on understanding the nature of their business and the gas supply contracts [116][118] Question: What updates are there on the Klondike project? - The company is awaiting building permits for the Klondike project in Pennsylvania, with expectations for good news later this year [120]