Welcome to our dedicated page for New Fortress Energy news (Ticker: NFE), a resource for investors and traders seeking the latest updates and insights on New Fortress Energy stock.
New Fortress Energy Inc. reports developments across an integrated natural gas and LNG infrastructure business that owns and operates terminals, liquefaction and delivery assets, ships, and logistics capabilities. Recurring company news covers terminal commercialization and capacity arrangements, gas-supply contracts, LNG-to-power infrastructure, and power-generation support in markets such as Brazil and Puerto Rico.
Updates also address material agreements, capital-structure actions, debt and forbearance matters, shareholder voting items, governance disclosures, and operating and financial results. The company’s business is organized around Terminals and Infrastructure and Ships, with the infrastructure segment spanning natural gas procurement, liquefaction, logistics, shipping, facilities, and natural gas-fired power generation development.
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New Fortress Energy Inc. (NASDAQ: NFE) announced a cash distribution of $0.546875 per unit for its 8.75% Series A Cumulative Redeemable Preferred Units. This distribution covers the period from February 15, 2023 to May 14, 2023, and will be payable on May 15, 2023 to all preferred unitholders recorded as of May 8, 2023. New Fortress Energy is focused on addressing energy poverty globally by providing reliable, affordable, and clean energy solutions through its extensive natural gas and LNG infrastructure, alongside a fleet of ships and logistic assets. These efforts aim to bolster global energy security and foster economic growth.
New Fortress Energy Inc. (NASDAQ: NFE) will announce its financial results for the first quarter of 2023 before 8:00 A.M. Eastern Time on Thursday, May 4th, 2023. The results will be available on the Company's website.
Management will also host a conference call on the same day at 8:00 A.M. Eastern Time, accessible by calling (888) 224-1121 or +1-323-794-2575. A simultaneous webcast will be available for public listening. A replay of the call will be posted shortly after its conclusion.
New Fortress Energy Inc. focuses on energy infrastructure, aiming to tackle energy poverty and advance clean energy transitions globally. The company operates natural gas and LNG assets, enhancing energy security and supporting economic growth.
New Fortress Energy (NASDAQ: NFE) announced agreements with Weston Solution, Inc. for 150 MW of power generation at the Palo Seco Power Plant in Puerto Rico. This initiative aims to enhance the island's grid stability under a task order from the US Army Corps of Engineers. The dual-fuel generators will assist in maintenance work on Puerto Rico’s power system. CEO Wes Edens highlighted the federal support for recovery efforts, emphasizing a transition to a cleaner and more reliable energy system. The transactions are subject to customary terms and conditions.
New Fortress Energy (NFE) reported impressive financial results for Q4 2022 and the full year, with an Adjusted EBITDA of $239 million for Q4 and nearly $1.1 billion for the year. Net income was reported at $66 million for the quarter and $185 million for the year, with Adjusted EPS of $0.87 and $2.74, respectively. The company announced a 2023 Adjusted EBITDA goal of ~$2.0 billion, nearly double the previous year. Key developments included a 10-year contract for managing Puerto Rico's power generation system, completion of the Barcarena terminal, and progress on Fast LNG initiatives. A $0.10/share dividend was declared, continuing its strategy to return capital to shareholders.
New Fortress Energy (NFE) has entered into an agreement with Golar LNG Limited (GLNG) to sell its stake in the Hilli floating liquefaction facility, receiving 4.1 million NFE shares and $100 million in cash. This transaction will reduce NFE's outstanding shares to approximately 204.7 million and will also allow NFE to eliminate $323 million in associated debt. The deal aims to enable NFE to concentrate on its fully-owned floating LNG portfolio and repurchase its shares at attractive valuations. The transaction is expected to close in Q1 2023, subject to customary conditions.