New Fortress Energy Stock Price, News & Analysis

New Fortress Energy (NFE) has completed the sale of its Jamaican assets and operations to Excelerate Energy for $1.055 billion. The transaction includes the LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour, and 150 MW Combined Heat and Power Plant in Clarendon. The proceeds will be used to reduce corporate debt, with $270 million allocated to pay down their Revolving Credit Facility and $55 million for Term Loan A facility. For Q1 2025, NFE reported challenging financial results with an Adjusted EBITDA of $82 million and a net loss of $197 million, resulting in an EPS of $(0.73). The company's total cash balance stands at $827 million, with $448 million unrestricted. NFE's development projects in Brazil show progress, with the 624 MW CELBA plant ~95% complete and PortoCem power plant over 50% complete, both expected to contribute to earnings growth.

Excelerate Energy (NYSE: EE) has completed its acquisition of New Fortress Energy's (Nasdaq: NFE) business in Jamaica. The acquisition includes the Montego Bay LNG Terminal, Old Harbour LNG Terminal, and Clarendon combined heat and power plant.

To fund the acquisition, Excelerate raised approximately $1.0 billion through:

• An equity offering of 8 million shares at $26.50 per share, raising $212 million
• An $800 million offering of 8.000% senior unsecured notes due 2030

Additionally, the company extended its credit facility maturity to March 2029 and increased its borrowing capacity from $350 million to $500 million. The acquisition is expected to provide stable, long-term cash flows with predictable margins.

New Fortress Energy (NASDAQ: NFE) has announced a three-year charter agreement for its Energos Freeze, a 125,000 m³ Floating Storage and Regasification Unit (FSRU), with Energía 2000 S.A. in the Dominican Republic. The FSRU will be deployed to the LNG import terminal at the port of Pepillo Salcedo (Manzanillo), with operations expected to begin in September 2025.

The facility will provide LNG regasification services to support power generation and industrial energy demand in the region. The agreement aligns with NFE's strategy to expand energy access in the Caribbean through strategic partnerships and LNG infrastructure development.

New Fortress Energy (NASDAQ: NFE) has rescheduled its Q1 2025 earnings release to Wednesday, May 14th, 2025 at 4:00 P.M. ET. The rescheduling is to accommodate the announcement of the Jamaica transaction closing and provide updates on the use of proceeds. The company will host a conference call at 4:30 P.M. ET on the same day, accessible via phone at (888) 256-1007 (US toll-free) or +1 (323) 701-0225 (international) using conference code 8378656. A webcast will be available on the company's website, and earnings materials will be posted in the Investors section.

New Fortress Energy (NFE) has scheduled its first quarter 2025 earnings release and conference call for Monday, May 12th, 2025. The financial results will be announced after 4:00 P.M. Eastern Time, followed by a conference call at 4:30 P.M. ET.

Investors can access the conference call by dialing (888) 256-1007 (U.S. toll-free) or +1 (323) 701-0225 (international) using the conference code 8378656. A simultaneous webcast will be available on the company's website under the Investors section. The earnings release and supplement will be posted to www.newfortressenergy.com, where a replay of the call will also be accessible.

Excelerate Energy (NYSE: EE) has announced the pricing of an upsized $800 million senior notes offering through its subsidiary Excelerate Energy Partnership. The 8.000% unsecured senior notes, due May 15, 2030, will be issued at par, with the offering expected to close on May 5, 2025.

The offering was increased from the original $700 million to $800 million. The proceeds, combined with equity offering proceeds and cash reserves, will fund: (1) the $1.055 billion acquisition of New Fortress Energy's Jamaica business, (2) repayment of $163.6 million in outstanding term loan facility borrowings as of December 31, 2024, and (3) related fees and expenses.

The notes will be guaranteed by certain restricted subsidiaries and are being offered exclusively to qualified institutional buyers in the US under Rule 144A and to international investors under Regulation S of the Securities Act.

Excelerate Energy (NYSE: EE) has announced that its subsidiary, Excelerate Energy Partnership, is launching a $700 million offering of unsecured senior notes due 2030. The proceeds, combined with previous equity offering funds and cash reserves, will be used to:

• Fund the $1.055 billion acquisition of New Fortress Energy's Jamaica business
• Repay $163.6 million in outstanding term loan facility borrowings as of December 31, 2024
• Cover related fees and expenses

The 2030 Notes will be guaranteed by certain subsidiaries and are being offered exclusively to qualified institutional buyers in the US under Rule 144A and to international investors under Regulation S of the Securities Act.

Excelerate Energy (NYSE: EE) has priced its upsized public offering of 6,956,522 shares of Class A common stock at $26.50 per share. The offering size increased from the initially announced $150 million to $184.3 million in gross proceeds. The company has also granted underwriters a 30-day option to purchase up to an additional 1,043,478 shares.

The proceeds, combined with approximately $650 million in planned senior indebtedness and cash on hand, will fund the $1.055 billion acquisition of New Fortress Energy's Jamaica business. The offering is expected to close around April 2, 2025. Lead book-running managers include Barclays and Morgan Stanley, with Credit Agricole CIB, DNB Markets, Jefferies, and Wells Fargo Securities acting as joint book-running managers.

Excelerate Energy (NYSE: EE) has launched an underwritten public offering of $150 million of Class A common stock shares. The company will grant underwriters a 30-day option to purchase up to an additional $22.5 million of shares.

The proceeds, combined with approximately $650 million in planned senior indebtedness and cash on hand, will fund the $1.055 billion acquisition of New Fortress Energy's Jamaica business. The offering's completion is subject to market conditions and is not contingent on the acquisition closing.

Barclays and Morgan Stanley are serving as lead book-running managers for the offering, which will be conducted under Excelerate's previously filed S-3 shelf registration statement.