Excelerate Energy(US:EE)2025-11-06 21:36Financial Performance - Total revenues for Q3 2025 reached $391.0 million, a significant increase from $193.4 million in Q3 2024, representing a growth of 102%[16] - Net income attributable to shareholders for Q3 2025 was $13.9 million, compared to $9.0 million in Q3 2024, marking a year-over-year increase of 56%[16] - Operating income for the nine months ended September 30, 2025, was $196.3 million, up from $154.8 million in the same period of 2024, reflecting a growth of 27%[16] - Net income for the nine months ended September 30, 2025, was $52.123 million, compared to $40.736 million for the same period in 2024, representing a year-over-year increase of 28.5%[19] - For the nine months ended September 30, 2025, net income increased to $127.9 million from $107.0 million in 2024, representing a growth of approximately 19%[23] - For the three months ended September 30, 2025, the company reported net income of $55,044,000, an increase from $45,546,000 in the same period of 2024, representing a growth of 11%[86] - The basic earnings per share for the three months ended September 30, 2025, was $0.44, compared to $0.36 for the same period in 2024, reflecting a 22% increase[86] Assets and Liabilities - Cash and cash equivalents as of September 30, 2025, totaled $462.6 million, down from $537.5 million at the end of 2024[15] - Total assets increased to $4.1 billion as of September 30, 2025, compared to $2.9 billion at the end of 2024, indicating a growth of 42%[15] - Current liabilities rose to $291.0 million as of September 30, 2025, compared to $216.1 million at the end of 2024, an increase of 35%[15] - The company reported a total equity of $2.2 billion as of September 30, 2025, up from $1.9 billion at the end of 2024, reflecting a growth of 16%[15] - The balance of retained earnings as of September 30, 2025, was $1.519 billion, reflecting an increase from $1.432 billion at March 31, 2025[19] - As of September 30, 2025, the total long-term debt net is $918.8 million, an increase from $286.8 million as of December 31, 2024[57] Equity and Dividends - Class A dividends increased from $0.06 per share to $0.08 per share during the same period, reflecting a 33.3% increase[19] - The total equity balance at September 30, 2025, was $2.195 billion, up from $1.931 billion at March 31, 2025, indicating a growth of approximately 13.7%[19] - EELP declared and paid distributions totaling $6.562 million to Class B interests and $2,675,000 in dividends to Class A Common Stock for the quarter ended September 30, 2025[81] Revenue and Growth - For the nine months ended September 30, 2025, total revenues reached $1.059 billion, up from $851.8 million in 2024, reflecting a growth of approximately 24%[39] - The Asia Pacific region generated $267.045 million in revenue for the nine months ended September 30, 2025, up from $204.125 million in 2024, marking an increase of about 30.8%[99] - The company expects to recognize $12.821 billion in revenue from contracts exceeding one year, with significant amounts projected for 2026 ($907.152 million) and 2027 ($903.305 million)[105] Acquisitions and Investments - The company completed the acquisition of New Fortress Energy Inc.'s business in Jamaica for approximately $1.055 billion in cash, which included the acquisition of three LNG facilities[36] - The company finalized the acquisition of the Montego Bay LNG Terminal and other assets in 2025, enhancing its operational capacity[105] - The company raised $800.0 million through long-term debt issuance to fund the acquisition and other activities[23] Cash Flow and Operating Activities - Net cash provided by operating activities for the nine months ended September 30, 2025, was $356.8 million, compared to $194.8 million in 2024, indicating an increase of 83%[23] - Cash and cash equivalents at the end of the period decreased to $481.8 million from $626.5 million at the end of 2024[23] Financial Instruments and Risks - The company’s interest rate swaps hedge approximately 70% of the variability in interest payments on the 2017 Bank Loans[50] - The Company is exposed to market risks including changes in interest rates, LNG commodity prices, and foreign currency exchange rates[230] - The Company may utilize derivative instruments to manage market risks, with gains or losses typically offset by corresponding gains or losses on the hedged item[230] Stock and Shareholder Information - The weighted average shares outstanding for basic earnings per share increased to 32.0 million in Q3 2025 from 25.0 million in Q3 2024[16] - The company repurchased 2,473,787 shares of its Class A Common Stock at a weighted average price of $20.41 per share, totaling approximately $50.0 million[84] - In March 2025, the company completed an equity offering of 6,956,522 shares at a public offering price of $26.50 per share, generating net proceeds of approximately $201.8 million[85]