New Fortress Energy ( (NFE) ) has released its Q4 earnings. Here is a breakdown of the information New Fortress Energy presented to its investors.
New Fortress Energy Inc. is a global energy infrastructure company that focuses on providing natural gas and liquefied natural gas (LNG) solutions to enhance energy security and promote clean energy transitions worldwide. The company operates a fleet of ships and logistics assets to deliver energy solutions to global markets.
In its latest earnings report, New Fortress Energy announced a strong performance for the fourth quarter and full year 2024, with significant achievements in adjusted EBITDA and strategic asset developments. Despite reporting a net loss, the company surpassed its adjusted EBITDA guidance, reflecting the optimization of its LNG portfolio.
Key financial highlights include an adjusted EBITDA of $313 million for the fourth quarter and $950 million for the full year, both exceeding expectations. However, the company reported a net loss of $224 million in Q4 and $242 million for the year, primarily due to refinancing costs and a loss on debt extinguishment. The completion of the Fast LNG asset and progress in Brazil’s power plant developments were notable strategic milestones.
The company also strengthened its financial position through a $2.7 billion issuance of new senior secured notes and a $400 million equity offering, enhancing liquidity and supporting future growth initiatives. Additionally, New Fortress Energy extended its gas supply contract in Puerto Rico, aiming to reduce emissions and costs by transitioning from diesel to LNG.
Looking ahead, New Fortress Energy is poised to leverage its strategic developments and financial restructuring to capitalize on upcoming opportunities, particularly in Brazil’s power auctions. The company’s management remains focused on delivering reliable and affordable energy solutions while pursuing growth and sustainability goals.