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NEW YORK - New Fortress Energy Inc. (NASDAQ:NFE) shares soared 11.5% after the company reported fourth quarter earnings and revenue that exceeded analyst expectations.
The liquefied natural gas infrastructure company posted adjusted earnings per share of $0.13, beating the consensus estimate of $0.06. Revenue came in at $679 million, surpassing expectations of $547.68 million.
New Fortress Energy achieved adjusted EBITDA of $313 million in Q4, above its guidance range of $200-$220 million. For the full year 2024, adjusted EBITDA reached $950 million, also exceeding the company’s guidance of $835-$855 million.
"This has been a strong fourth quarter for the Company as we achieved Adjusted EBITDA of $313 million, surpassing our guidance of $200-$220 million," said Wes Edens, Chairman and CEO of New Fortress Energy.
The company reported a net loss of $223.5 million for Q4, primarily due to a $260 million loss on extinguishment of debt related to refinancing activities. Revenue for the quarter rose 19.6% year-over-year to $679 million.
New Fortress Energy’s Fast LNG asset was placed into service in December 2024 and has been operating above nameplate capacity since the start of 2025, marking a significant milestone for the company’s LNG supply capabilities.
Looking ahead, the company highlighted opportunities in Brazil’s upcoming power auctions and its extended gas supply contract in Puerto Rico as potential growth drivers.
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