Excelerate Energy Reports Strong Second Quarter 2026 Results
RECENT HIGHLIGHTS
-
Reported Net Income of
$50.1 million -
Reported Adjusted EBITDA of
$120.1 million -
Executed a definitive agreement in June 2026 with Sociedad Portuaria Puerto Bahia, a subsidiary of Frontera Energy Corporation, to redeploy the FSRU Express to a new LNG import terminal in
Colombia for seven years - Executed a definitive agreement to purchase a new LNG carrier, the Methane Patricia Camila, which will serve as the dedicated vessel for the Company's first FSRU conversion project and support expected commercial deployment in early 2028
-
Declared a quarterly cash dividend of
$0.09
CEO COMMENT
"Excelerate delivered strong financial and operational results in the second quarter, reflecting the earnings power of our contracted infrastructure portfolio and the strength of our global business. We continued to demonstrate our ability to adapt to changing market conditions while advancing our strategic priorities," said Steven Kobos, President and CEO of Excelerate Energy.
Kobos continued, "That approach is reflected in the progress we've made this year. We are creating value from the assets we operate today while laying the groundwork for future growth, which includes continuing to progress our integrated Iraq LNG import terminal and advancing our first FSRU conversion. These actions are intended to expand our global footprint and provide us with a visible, sequenced pathway to long-term growth. We remain committed to our strategy to drive meaningful value creation for our shareholders."
SECOND QUARTER 2026 FINANCIAL RESULTS
|
For the three months ended |
|
|||||||||
(in millions, except per share amounts) |
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
Revenues |
$ |
329.3 |
|
|
$ |
433.4 |
|
|
$ |
204.6 |
|
Operating Income |
|
80.9 |
|
|
|
82.0 |
|
|
|
43.4 |
|
Net Income |
|
50.1 |
|
|
|
50.0 |
|
|
|
20.8 |
|
Adjusted Net Income (1) |
|
50.1 |
|
|
|
50.0 |
|
|
|
46.8 |
|
Adjusted EBITDA (1) |
|
120.1 |
|
|
|
122.2 |
|
|
|
107.1 |
|
Earnings Per Share (diluted) |
|
0.37 |
|
|
|
0.37 |
|
|
|
0.15 |
|
Adjusted Earnings Per Share (diluted) (1) |
|
0.37 |
|
|
|
0.37 |
|
|
|
0.34 |
|
(1) See the reconciliation of non-GAAP financial measures to the most comparable GAAP financial measure in the section titled "Non-GAAP Reconciliation" below. |
Net Income for the second quarter of 2026 was in line with the prior quarter, while Adjusted EBITDA decreased slightly from the prior quarter primarily due to LNG, gas and power seasonal impacts, partially offset by higher margins for
Net Income and Adjusted EBITDA for the second quarter of 2026 both increased from the prior year second quarter primarily due to a full quarter contribution from the
KEY COMMERCIAL UPDATES
In May 2026, Excelerate executed a nine-month time charter party agreement with Jordan’s National Electric Power Company, NEPCO, to deploy the Excelerate Acadia to the country's existing LNG terminal in Aqaba. The Excelerate Acadia commenced operations in early July 2026. The interim deployment enhances
In June 2026, Excelerate executed a seven-year time charter party agreement with Sociedad Portuaria Puerto Bahia, a subsidiary of Frontera Energy Corporation (TSX:FEC), to redeploy the FSRU Express to a new LNG import terminal under development in
In July 2026, Excelerate entered into a definitive agreement to acquire an LNG carrier, the Methane Patricia Camila, which will serve as the dedicated vessel for the Company's first FSRU conversion project. The acquisition represents an important milestone as Excelerate advances engineering, commercial development and project planning activities associated with the conversion initiative. Based on current planning assumptions, the converted FSRU is expected to be available for commercial deployment in early 2028.
In October 2025, Excelerate executed a definitive commercial agreement with a subsidiary of
LIQUIDITY AND CAPITAL RESOURCES
As of June 30, 2026, Excelerate had
QUARTERLY CASH DIVIDEND UPDATE
On July 30, 2026, Excelerate’s Board of Directors approved a quarterly cash dividend equal to
REVISED 2026 FINANCIAL OUTLOOK
Excelerate has raised and narrowed its full-year 2026 Adjusted EBITDA guidance range. For the full year, Adjusted EBITDA is now expected to range between
Actual results may differ materially from the Company’s outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.
INVESTOR CONFERENCE CALL AND WEBCAST
The Excelerate management team will host a conference call for investors and analysts at 8:30 a.m. Eastern Time (7:30 a.m. Central Time) on Thursday, August 6, 2026. Investors are invited to access a live webcast of the conference call via the Investor Relations page on the Company’s website at www.excelerateenergy.com. An archived replay of the call and a copy of the presentation will be on the website following the call.
ABOUT EXCELERATE ENERGY
Excelerate Energy, Inc. is a
USE OF NON-GAAP FINANCIAL MEASURES
The Company reports financial results in accordance with accounting principles generally accepted in
Adjusted Gross Margin
The Company uses Adjusted Gross Margin, a non-GAAP financial measure, which it defines as revenues less cost of LNG, gas and power and operating expenses, excluding depreciation and amortization, to measure its operational financial performance. Management believes Adjusted Gross Margin is useful because it provides insight into profitability and true operating performance excluding the implications of the historical cost basis of the Company’s assets.
Adjusted Net Income
The Company uses Adjusted Net Income, a non-GAAP financial measure, which it defines as net income plus tax-effected transition and transaction expenses. Management believes Adjusted Net Income is useful because it provides insight into profitability excluding the impact of non-recurring charges related to the
Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure included as a supplemental disclosure because management believes it is a useful indicator of the Company’s operating performance. The Company defines Adjusted EBITDA as net income before interest expense, income taxes, depreciation and amortization, accretion, non-cash long-term incentive compensation expense and items such as charges and non-recurring expenses that management does not consider as part of assessing ongoing operating performance.
The Company adjusts net income for the items listed above to arrive at Adjusted EBITDA because these amounts can vary substantially from company to company within its industry depending upon accounting methods and book values of assets, capital structures and the method by which the assets were acquired. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, net income as determined in accordance with GAAP or as an indicator of the Company’s operating performance or liquidity. This measure has limitations as certain excluded items are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure, as well as the historic costs of depreciable assets, none of which are components of Adjusted EBITDA. The Company's presentation of Adjusted EBITDA should not be construed as an inference that its results will be unaffected by unusual or non-recurring items. For the foregoing reasons, Adjusted EBITDA has significant limitations that affect its use as an indicator of the Company’s profitability and valuation.
Adjusted Earnings Per Share
The Company uses Adjusted Earnings Per Share ("EPS"), a non-GAAP financial measure, which it defines as diluted EPS plus the per share impact of its tax-effected transition and transaction expenses. Management believes Adjusted EPS is useful because it provides insight on per share profitability excluding the impact of non-recurring charges related to the
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about Excelerate and our industry that involve substantial risks and uncertainties. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding: the advancement and expected timing of our development of Iraq’s first LNG import terminal; our future results of operations or financial condition, including our 2026 outlook, business strategy and plans, including our first FSRU conversion project; economic conditions, both generally and in particular in the regions in which we operate or plan to operate; objectives of management for future operations, our share repurchase program, and projections regarding annual results, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “consider,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these words or other similar terms or expressions.
You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition and operating results. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described under “Risk Factors” in Excelerate’s Annual Report on Form 10‐K for the year ended December 31, 2025, our other filings with the Securities and Exchange Commission (the “SEC”), and those identified in this press release, including, but not limited to, the following: unplanned issues, including time delays, unforeseen expenses, cost inflation, materials or labor shortages, which could result in delayed project startup receipt of payment or existing or anticipated project cancellation; our ability to realize the anticipated benefits of the
Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. For example, the current global economic uncertainty and geopolitical climate, including trade and tariff developments, wars and conflicts, and world or regional health events, including pandemics and epidemics and governmental and third-party responses thereto, may give rise to risks that are currently unknown or amplify the risks associated with many of the foregoing events or factors. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.
In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that we have a reasonable basis for the forward-looking statements contained herein, such information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.
The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments.
Excelerate Energy, Inc. |
||||||||||||
Consolidated Statements of Income (Unaudited) |
||||||||||||
|
|
For the three months ended |
|
|||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
|
|
(In thousands, except share and per share amounts) |
|
|||||||||
Revenues |
|
|
|
|
|
|
|
|
|
|||
LNG, gas and power |
|
$ |
168,811 |
|
|
$ |
275,176 |
|
|
$ |
55,723 |
|
Terminal services |
|
|
160,454 |
|
|
|
158,263 |
|
|
|
148,833 |
|
Total revenues |
|
|
329,265 |
|
|
|
433,439 |
|
|
|
204,556 |
|
Operating expenses |
|
|
|
|
|
|
|
|
|
|||
Cost of LNG, gas and power (exclusive of items below) |
|
|
135,333 |
|
|
|
243,045 |
|
|
|
40,427 |
|
Operating expenses |
|
|
56,075 |
|
|
|
53,084 |
|
|
|
46,023 |
|
Depreciation and amortization |
|
|
32,670 |
|
|
|
31,007 |
|
|
|
25,518 |
|
Selling, general and administrative expenses |
|
|
24,291 |
|
|
|
24,336 |
|
|
|
21,543 |
|
Transition and transaction expenses |
|
|
— |
|
|
|
— |
|
|
|
27,659 |
|
Total operating expenses |
|
|
248,369 |
|
|
|
351,472 |
|
|
|
161,170 |
|
Operating income |
|
|
80,896 |
|
|
|
81,967 |
|
|
|
43,386 |
|
Other income (expense) |
|
|
|
|
|
|
|
|
|
|||
Interest expense |
|
|
(24,161 |
) |
|
|
(24,538 |
) |
|
|
(20,683 |
) |
Interest expense – related party |
|
|
(3,056 |
) |
|
|
(3,071 |
) |
|
|
(3,249 |
) |
Earnings from equity method investment |
|
|
642 |
|
|
|
604 |
|
|
|
600 |
|
Other income, net |
|
|
1,692 |
|
|
|
4,476 |
|
|
|
6,285 |
|
Income before income taxes |
|
|
56,013 |
|
|
|
59,438 |
|
|
|
26,339 |
|
Provision for income taxes |
|
|
(5,939 |
) |
|
|
(9,460 |
) |
|
|
(5,574 |
) |
Net income |
|
|
50,074 |
|
|
|
49,978 |
|
|
|
20,765 |
|
Less net income attributable to non-controlling interests |
|
|
37,997 |
|
|
|
37,658 |
|
|
|
16,036 |
|
Net income attributable to shareholders |
|
$ |
12,077 |
|
|
$ |
12,320 |
|
|
$ |
4,729 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net income per common share – basic |
|
$ |
0.38 |
|
|
$ |
0.38 |
|
|
$ |
0.15 |
|
Net income per common share – diluted |
|
$ |
0.37 |
|
|
$ |
0.37 |
|
|
$ |
0.15 |
|
Weighted average shares outstanding – basic |
|
|
31,733,765 |
|
|
|
32,078,044 |
|
|
|
31,489,508 |
|
Weighted average shares outstanding – diluted |
|
|
32,362,952 |
|
|
|
32,982,088 |
|
|
|
32,162,826 |
|
Excelerate Energy, Inc. |
||||||||
Consolidated Balance Sheet |
||||||||
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
||
|
|
(Unaudited) |
|
|
|
|
||
ASSETS |
|
(In thousands) |
|
|||||
Current assets |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
342,449 |
|
|
$ |
538,234 |
|
Current portion of restricted cash |
|
|
3,232 |
|
|
|
3,239 |
|
Accounts receivable, net |
|
|
97,414 |
|
|
|
82,714 |
|
Current portion of net investments in sales-type leases |
|
|
29,733 |
|
|
|
38,870 |
|
Other current assets |
|
|
122,436 |
|
|
|
90,308 |
|
Total current assets |
|
|
595,264 |
|
|
|
753,365 |
|
Restricted cash |
|
|
15,509 |
|
|
|
15,045 |
|
Property and equipment, net |
|
|
2,357,295 |
|
|
|
2,132,045 |
|
Intangible assets, net |
|
|
351,398 |
|
|
|
359,221 |
|
Goodwill |
|
|
235,188 |
|
|
|
234,994 |
|
Operating lease right-of-use assets |
|
|
155,504 |
|
|
|
167,188 |
|
Net investments in sales-type leases |
|
|
324,085 |
|
|
|
337,944 |
|
Investments in equity method investee |
|
|
19,604 |
|
|
|
18,095 |
|
Deferred tax assets, net |
|
|
24,469 |
|
|
|
25,224 |
|
Other assets |
|
|
84,725 |
|
|
|
88,340 |
|
Total assets |
|
$ |
4,163,041 |
|
|
$ |
4,131,461 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
||
Current liabilities |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
71,010 |
|
|
$ |
46,570 |
|
Accrued liabilities and other liabilities |
|
|
144,518 |
|
|
|
123,027 |
|
Current portion of deferred revenues |
|
|
30,426 |
|
|
|
57,135 |
|
Current portion of long-term debt |
|
|
23,994 |
|
|
|
23,521 |
|
Current portion of long-term debt – related party |
|
|
10,035 |
|
|
|
10,521 |
|
Current portion of operating lease liabilities |
|
|
25,032 |
|
|
|
23,904 |
|
Current portion of finance lease liabilities |
|
|
25,759 |
|
|
|
25,382 |
|
Total current liabilities |
|
|
330,774 |
|
|
|
310,060 |
|
Long-term debt, net |
|
|
902,151 |
|
|
|
912,788 |
|
Long-term debt, net – related party |
|
|
145,905 |
|
|
|
151,431 |
|
Operating lease liabilities |
|
|
127,125 |
|
|
|
138,744 |
|
Finance lease liabilities |
|
|
132,423 |
|
|
|
144,608 |
|
TRA liability |
|
|
49,966 |
|
|
|
51,122 |
|
Asset retirement obligations |
|
|
64,483 |
|
|
|
62,799 |
|
Long-term deferred revenues |
|
|
28,237 |
|
|
|
29,196 |
|
Deferred tax liability |
|
|
66,828 |
|
|
|
64,654 |
|
Other long-term liabilities |
|
|
43,100 |
|
|
|
36,981 |
|
Total liabilities |
|
$ |
1,890,992 |
|
|
$ |
1,902,383 |
|
Commitments and contingencies |
|
|
|
|
|
|
||
Class A Common Stock ( |
|
|
35 |
|
|
|
35 |
|
Class B Common Stock ( |
|
|
82 |
|
|
|
82 |
|
Additional paid-in capital |
|
|
658,998 |
|
|
|
634,811 |
|
Retained earnings |
|
|
121,750 |
|
|
|
102,640 |
|
Accumulated other comprehensive loss |
|
|
(510 |
) |
|
|
(112 |
) |
Treasury stock (3,774,932 shares as of June 30, 2026 and 2,685,679 shares as of December 31, 2025) |
|
|
(93,543 |
) |
|
|
(54,981 |
) |
Non-controlling interests |
|
|
1,585,237 |
|
|
|
1,546,603 |
|
Total equity |
|
|
2,272,049 |
|
|
|
2,229,078 |
|
Total liabilities and equity |
|
$ |
4,163,041 |
|
|
$ |
4,131,461 |
|
Excelerate Energy, Inc. |
||||||||
Consolidated Statements of Cash Flows (Unaudited) |
||||||||
|
|
For the six months ended |
|
|||||
|
|
June 30, 2026 |
|
|
June 30, 2025 |
|
||
Cash flows from operating activities |
|
(In thousands) |
|
|||||
Net income |
|
$ |
100,052 |
|
|
$ |
72,888 |
|
Adjustments to reconcile net income to net cash from operating activities |
|
|
|
|
|
|
||
Depreciation and amortization |
|
|
63,677 |
|
|
|
47,161 |
|
Amortization of operating lease right-of-use assets |
|
|
12,707 |
|
|
|
3,343 |
|
ARO accretion expense |
|
|
1,680 |
|
|
|
960 |
|
Amortization of debt issuance costs |
|
|
2,910 |
|
|
|
4,444 |
|
Deferred income taxes |
|
|
3,248 |
|
|
|
845 |
|
Share of net earnings in equity method investee |
|
|
(1,246 |
) |
|
|
(1,196 |
) |
Distributions from equity method investee |
|
|
900 |
|
|
|
1,530 |
|
Long-term incentive compensation expense |
|
|
6,628 |
|
|
|
5,358 |
|
Loss on non-cash items |
|
|
4 |
|
|
|
— |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
||
Accounts receivable |
|
|
(15,600 |
) |
|
|
85,578 |
|
Other current assets and other assets |
|
|
(27,400 |
) |
|
|
1,864 |
|
Accounts payable and accrued liabilities |
|
|
43,686 |
|
|
|
16,182 |
|
Current portion of deferred revenue |
|
|
(26,709 |
) |
|
|
(28,218 |
) |
Net investments in sales-type leases |
|
|
22,996 |
|
|
|
21,101 |
|
Operating lease assets and liabilities |
|
|
(11,513 |
) |
|
|
(3,196 |
) |
Other long-term liabilities |
|
|
(1,776 |
) |
|
|
13,305 |
|
Net cash provided by operating activities |
|
$ |
174,244 |
|
|
$ |
241,949 |
|
|
|
|
|
|
|
|
||
Cash flows from investing activities |
|
|
|
|
|
|
||
Net cash paid for acquisition |
|
|
— |
|
|
|
(1,048,091 |
) |
Purchases of property and equipment |
|
|
(283,833 |
) |
|
|
(77,408 |
) |
Net cash used in investing activities |
|
$ |
(283,833 |
) |
|
$ |
(1,125,499 |
) |
|
|
|
|
|
|
|
||
Cash flows from financing activities |
|
|
|
|
|
|
||
Proceeds from issuance of Class A Common stock, net |
|
|
— |
|
|
|
201,904 |
|
Repurchase of Class A Common Stock |
|
|
(28,426 |
) |
|
|
— |
|
Proceeds from issuance of long-term debt |
|
|
— |
|
|
|
800,000 |
|
Repayments of long-term debt |
|
|
(12,019 |
) |
|
|
(175,172 |
) |
Repayments of long-term debt – related party |
|
|
(6,012 |
) |
|
|
(4,768 |
) |
Payment of debt issuance costs |
|
|
— |
|
|
|
(19,376 |
) |
Principal payments under finance lease liabilities |
|
|
(11,392 |
) |
|
|
(10,714 |
) |
Taxes withheld for long-term incentive compensation |
|
|
(3,073 |
) |
|
|
(1,027 |
) |
Dividends paid |
|
|
(5,215 |
) |
|
|
(3,382 |
) |
Distributions |
|
|
(20,723 |
) |
|
|
(13,984 |
) |
Other financing activities |
|
|
902 |
|
|
|
(433 |
) |
Net cash provided by (used in) financing activities |
|
$ |
(85,958 |
) |
|
$ |
773,048 |
|
|
|
|
|
|
|
|
||
Effect of exchange rate on cash, cash equivalents, and restricted cash |
|
|
219 |
|
|
|
88 |
|
|
|
|
|
|
|
|
||
Net decrease in cash, cash equivalents and restricted cash |
|
|
(195,328 |
) |
|
|
(110,414 |
) |
|
|
|
|
|
|
|
||
Cash, cash equivalents and restricted cash |
|
|
|
|
|
|
||
Beginning of period |
|
$ |
556,518 |
|
|
$ |
554,495 |
|
End of period |
|
$ |
361,190 |
|
|
$ |
444,081 |
|
Excelerate Energy, Inc.
Non-GAAP Reconciliation (Unaudited)
The following table presents a reconciliation of Adjusted Gross Margin to the GAAP financial measures of gross margin for each of the periods indicated.
|
|
For the three months ended |
|
|||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
|
|
(In thousands) |
|
|||||||||
LNG, gas and power |
|
$ |
168,811 |
|
|
$ |
275,176 |
|
|
$ |
55,723 |
|
Terminal services |
|
|
160,454 |
|
|
|
158,263 |
|
|
|
148,833 |
|
Cost of LNG, gas and power |
|
|
(135,333 |
) |
|
|
(243,045 |
) |
|
|
(40,427 |
) |
Operating expenses |
|
|
(56,075 |
) |
|
|
(53,084 |
) |
|
|
(46,023 |
) |
Depreciation and amortization expense |
|
|
(32,670 |
) |
|
|
(31,007 |
) |
|
|
(25,518 |
) |
Gross Margin |
|
$ |
105,187 |
|
|
$ |
106,303 |
|
|
$ |
92,588 |
|
Depreciation and amortization expense |
|
|
32,670 |
|
|
|
31,007 |
|
|
|
25,518 |
|
Adjusted Gross Margin |
|
$ |
137,857 |
|
|
$ |
137,310 |
|
|
$ |
118,106 |
|
The following table presents a reconciliation of Adjusted Net Income to the GAAP financial measures of net income for each of the periods indicated.
|
|
For the three months ended |
|
|||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
|
|
(In thousands) |
|
|||||||||
Net income |
|
$ |
50,074 |
|
|
$ |
49,978 |
|
|
$ |
20,765 |
|
Add back: |
|
|
|
|
|
|
|
|
|
|||
Transition and transaction expenses |
|
|
— |
|
|
|
— |
|
|
|
27,659 |
|
Tax impact on adjustments |
|
|
— |
|
|
|
— |
|
|
|
(1,615 |
) |
Adjusted Net Income |
|
$ |
50,074 |
|
|
$ |
49,978 |
|
|
$ |
46,809 |
|
The following table presents a reconciliation of Adjusted EBITDA to the GAAP financial measures of net income for each of the periods indicated.
|
|
For the three months ended |
|
|||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
|
|
(In thousands) |
|
|||||||||
Net income |
|
$ |
50,074 |
|
|
$ |
49,978 |
|
|
$ |
20,765 |
|
Interest expense |
|
|
27,217 |
|
|
|
27,609 |
|
|
|
23,932 |
|
Provision for income taxes |
|
|
5,939 |
|
|
|
9,460 |
|
|
|
5,574 |
|
Depreciation and amortization expense |
|
|
32,670 |
|
|
|
31,007 |
|
|
|
25,518 |
|
Accretion expense |
|
|
846 |
|
|
|
834 |
|
|
|
483 |
|
Long-term incentive compensation expense |
|
|
3,344 |
|
|
|
3,284 |
|
|
|
3,206 |
|
Transition and transaction expenses |
|
|
— |
|
|
|
— |
|
|
|
27,659 |
|
Adjusted EBITDA |
|
$ |
120,090 |
|
|
$ |
122,172 |
|
|
$ |
107,137 |
|
The following table presents a reconciliation of Adjusted Dilutive EPS to the GAAP financial measures of dilutive EPS for each of the periods indicated.
|
|
For the three months ended |
|
|||||||||
|
|
June 30, 2026 |
|
|
March 31, 2026 |
|
|
June 30, 2025 |
|
|||
Earnings Per Share (diluted) |
|
$ |
0.37 |
|
|
$ |
0.37 |
|
|
$ |
0.15 |
|
Add back: |
|
|
|
|
|
|
|
|
|
|||
Transition and transaction expenses |
|
|
— |
|
|
|
— |
|
|
|
0.24 |
|
Tax impact on adjustments |
|
|
— |
|
|
|
— |
|
|
|
(0.05 |
) |
Adjusted Earnings Per Share (diluted) |
|
$ |
0.37 |
|
|
$ |
0.37 |
|
|
$ |
0.34 |
|
|
|
2026E |
|
|
2026E |
|
||
(In millions) |
|
Low Case |
|
|
High Case |
|
||
Income before income taxes |
|
$ |
230 |
|
|
$ |
261 |
|
Interest expense |
|
|
112 |
|
|
|
107 |
|
Depreciation and amortization expense |
|
|
132 |
|
|
|
128 |
|
Accretion expense |
|
|
4 |
|
|
|
3 |
|
Long-term incentive compensation expense |
|
|
12 |
|
|
|
16 |
|
Adjusted EBITDA |
|
$ |
490 |
|
|
$ |
515 |
|
Note: We have not reconciled the Adjusted EBITDA outlook to net income, the most comparable measure, because it is not possible to estimate, without unreasonable effort, our income taxes with the level of required precision. Accordingly, we have reconciled these non-GAAP measures to our estimated income before taxes.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260805385948/en/
Investors
Craig Hicks
Excelerate Energy
Craig.Hicks@excelerateenergy.com
Media
Stephen Pettibone / Frances Jeter
FGS Global
Excelerate@fgsglobal.com
or
media@excelerateenergy.com
Source: Excelerate Energy, Inc.