Bullish indicating open at $55-$60, IPO prices at $37
THE WOODLANDS, Texas - Excelerate Energy, Inc. (NYSE:EE), a U.S. firm specializing in floating storage and regasification units (FSRUs) and liquefied natural gas (LNG) solutions, has signed a Memorandum of Understanding with Petrovietnam Gas Joint Stock Corporation (PV Gas), to secure a stable supply of LNG from the United States starting potentially in 2026. The company, currently valued at $3 billion, has demonstrated strong financial health according to InvestingPro analysis, with its stock delivering an impressive 81.68% return over the past year.
The partnership aims to address Vietnam’s increasing energy demands by establishing a joint strategic framework to meet PV Gas’s LNG requirements. The collaboration is expected to leverage the strengths and resources of both companies to provide Vietnam with reliable and affordable energy solutions. With a healthy current ratio of 3.49 and annual revenue of $851.44 million, Excelerate Energy appears well-positioned to execute this strategic expansion.
Oliver Simpson, Executive Vice President and Chief Commercial Officer of Excelerate, stated, "This collaboration underscores our commitment to helping Vietnam meet its growing energy needs while also providing a downstream market for U.S. LNG supply."
Excelerate Energy is based in The Woodlands, Texas, and operates worldwide, providing integrated services along the LNG value chain with the goal of delivering rapid-to-market and dependable LNG solutions to customers.
PV Gas, a subsidiary of Vietnam Oil and Gas Group, is involved in various aspects of the gas industry, including extraction, refining, distribution, marketing, and transportation, as well as import and export of gas products.
The news of the partnership comes as both companies look to contribute to a sustainable and secure energy future for Vietnam. This agreement is one of the steps Excelerate is taking to expand its global footprint and fulfill the energy requirements of emerging markets.
The information for this report is based on a press release statement from Excelerate Energy, Inc. For deeper insights into Excelerate Energy’s financial health and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro, where you’ll find detailed research reports and expert analysis covering over 1,400 US stocks.
In other recent news, Excelerate Energy Inc. reported strong financial results for the fourth quarter of 2024, exceeding market expectations. The company achieved an earnings per share (EPS) of $0.40, surpassing the forecasted $0.35, and revenue reached $274.6 million, well above the anticipated $194.96 million. The company also recorded a significant adjusted EBITDA of $348 million for the year. Alongside these financial achievements, Excelerate Energy highlighted its ongoing projects, including new-build floating storage regasification units (FSRUs) and conversions, emphasizing its focus on expanding core operations.
Morgan Stanley recently adjusted its outlook on Excelerate Energy, lowering the stock’s price target from $29 to $28 while maintaining an Underweight rating. This revision follows the company’s earnings report and considers Excelerate Energy’s increased net debt and capital expenditures. Despite the adjustment, Morgan Stanley recognized that Excelerate Energy’s EBITDA exceeded consensus estimates by 10%.
Additionally, Excelerate Energy has set an adjusted EBITDA guidance of $340-$360 million for 2025, with plans to continue focusing on fleet expansion and strategic investments. The company has committed growth capital of $65-$75 million for the upcoming year. These developments highlight Excelerate Energy’s strategic initiatives and financial performance, which continue to draw investor attention in the competitive energy sector.
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