Core Insights - New Fortress Energy Inc. reported a net loss of $557 million for the second quarter of 2025, with significant non-cash impairments of assets and goodwill totaling $699 million [4][24] - The company is exploring strategic alternatives to improve its capital structure, including asset sales and capital raising, with the assistance of financial and legal advisors [2][4] - Adjusted EBITDA for the second quarter of 2025 was $(4) million, a decline from previous quarters, indicating operational challenges [4][19] Financial Performance - Total revenues for the second quarter of 2025 were $301.7 million, a decrease from $470.5 million in the first quarter of 2025 [5][26] - The company reported an EPS of $(2.02) on a fully diluted basis for the second quarter of 2025 [4][24] - The total cash balance as of June 30, 2025, was $821 million, with $551 million being unrestricted [4][24] Operational Developments - New Fortress Energy is in negotiations for a long-term gas sale agreement with PREPA to provide gas across Puerto Rico, extending the current agreement on a weekly basis [4][24] - The commissioning of the 624 MW CELBA plant has begun, with expectations for it to be operational by the end of the year [4][24] - The company has made significant progress on the PortoCem power plant in Brazil, which is over 70% complete and fully funded [4][24] Strategic Initiatives - The company has retained Houlihan Lokey Capital, Inc. and Skadden, Arps, Slate, Meagher & Flom LLP to assist in evaluating strategic alternatives [2][4] - Discussions are ongoing with various stakeholders and potential investors to explore options for improving liquidity and capital structure [2][4] - New Fortress Energy is optimistic about upcoming power auctions in Brazil, which could be larger than initially expected, potentially reaching 15 GW [4][24]