New Fortress Energy Q1 net income $57M, Adj. EBITDA $340M; FLNG commissioning, dividend $0.10

New Fortress Energy Inc.

2024-Q1 EPS reported $0.26 revenue$690,321,000

Q1 net income $56.7M ($0.26 diluted EPS) vs $151.6M ($0.71) a year ago; adjusted EPS $0.67.
Adjusted EBITDA $340M, down from $440M in prior-year quarter; revenue $690.3M (up 19% YoY).
FLNG unit commissioning; first LNG expected May, first full cargo June; Brazil terminals operational with 2.2 GW power under construction.
Board declared $0.10/share dividend, payable June 27 to holders of record June 15.
Sold FEMA power plants in Puerto Rico, won 80 Tbtu island-wide gas contract; 2024 illustrative Adj. EBITDA goal ~$2B.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

New Fortress Energy Inc. reported the first quarter of 2024 results: revenue $690.3, net income $56.7, EPS $0.26.

Period: the first quarter of 2024
Revenue: $690.3
Net income: $56.7
EPS: $0.26
Result: reported results

Exact text from the filing

of June 15, 2024 and a payment date of June 27, 2024. Financial Detail Three Months Ended (in millions) March 31, 2023 December 31, 2023 March 31, 2024 Revenues $ 579.1 $ 758.4 $ 690.3 Net income $ 151.6 $ 214.9 $ 56.7 Diluted EPS $ 0.71 $ 1.06 $ 0.26 Adjusted net income (6) $ 187.6 $ 206.6 $ 138.4 Adjusted EPS (2) $ 0.90 $ 1.01 $ 0.67 Terminals and

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Source: SEC EDGAR

accession 0001749723-24-000049

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