Excelerate Energy, Inc. Stock Price, News & Analysis

Excelerate Energy (NYSE: EE) announced that CEO Steven Kobos will present at the 2022 Wells Fargo 21st Annual Midstream & Utilities Symposium on December 7, 2022, at 12:55 p.m. Eastern Time. A live audio webcast and archived recording will be available on the Company’s website. The Company, based in The Woodlands, Texas, specializes in LNG services, focusing on rapid market access and reliable solutions worldwide.

Excelerate Energy (NYSE: EE) has launched an International Strategic Advisory Council comprising renowned experts in geopolitics, defense, and energy policy. This Council aims to provide valuable insights into global political, social, and economic issues, thus enhancing the company’s development strategies. Key members include former ambassadors and military leaders such as Ambassador Liliana Ayalde and Admiral Craig Faller. Steven Kobos, CEO, emphasized the potential for these experts to bolster Excelerate's decision-making and commitment to delivering reliable energy solutions.

Excelerate Energy reported strong financial results for Q3 2022, with a net income of $37.3 million, compared to a net loss in Q2. Adjusted EBITDA rose to $77.5 million, driven by reduced idle fuel costs and increased margins from operations in Argentina. The company signed agreements for LNG services in Finland and Germany, enhancing its portfolio. Additionally, a new shipbuilding contract was secured for an advanced FSRU, set for delivery in 2026. A quarterly dividend of $0.025 per share was declared, and full-year EBITDA guidance was raised to between $264 million and $274 million.

Excelerate Energy, Inc. (NYSE: EE) announced a quarterly cash dividend of $0.025 per share for Class A common stock, payable on December 14, 2022. The record date for this dividend is November 22, 2022. A corresponding distribution of $0.025 will be made to holders of Class B limited partnership interests. The Board of Directors retains discretion over future dividend declarations.

Excelerate is a U.S.-based LNG company focused on providing integrated services along the LNG value chain to deliver reliable solutions.

Excelerate Energy (NYSE: EE) announced the resignation of Calvin Bancroft as Executive Vice President and COO, effective December 31, 2022. He will transition to a Senior Advisor role until September 30, 2023. David Liner, currently VP of Operations, will succeed Bancroft as COO starting January 1, 2023. Bancroft has over 40 years in the shipping industry and has significantly contributed to Excelerate's growth in LNG solutions. Liner brings 25 years of experience from various maritime roles, positioning the company for continued success.

Excelerate Energy, Inc. (NYSE: EE) has signed a five-year contract with the German government to charter the floating storage and regasification unit (FSRU) Excelsior. This contract aims to enhance energy security and supply diversification in Germany, aiding its transition to renewable energy. The Excelsior has an LNG storage capacity of 138,000 m³ and will be deployed at the Port of Wilhelmshaven in Q1 2023 after scheduled maintenance. This partnership aligns with the U.S.-EU Task Force on Energy Security.

Excelerate Energy, Inc. (NYSE: EE) will announce its third quarter 2022 results on November 9, 2022, after U.S. market close. Details of the earnings and presentation will be available on their investor page. Following this, a conference call for analysts and investors is scheduled for November 10, 2022, at 8:30 a.m. ET. The call will be webcast live, and an archived replay will be accessible on their website. Excelerate Energy operates in the LNG sector, offering integrated services to enhance access to cleaner energy.

Excelerate Energy (NYSE: EE) has signed a binding Shipbuilding Contract with Hyundai Heavy Industries for a new floating regasification and storage unit (FSRU) to be delivered in June 2026. The FSRU will feature a storage capacity of 170,000 m³ and a maximum regasification capacity of 1 billion standard cubic feet per day. This addition will strengthen Excelerate's fleet to 11 FSRUs, positioning the company as a premier provider of flexible LNG services aimed at enhancing energy security amidst global energy crises.

Excelerate Energy announced on August 25, 2022, a term sheet with ENGIE to deploy a floating storage and regasification unit (FSRU) for LNG regasification in Germany. This agreement marks a significant step in Excelerate's expansion within the European market, enhancing energy security amid decreasing reliance on Russian gas. The FSRU will support Germany’s fifth LNG import terminal at Wilhelmshaven for five years. Excelerate aims to leverage its integrated FSRU fleet to provide rapid and flexible LNG solutions globally.