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. (NASDAQ: NFE) generates frequent news as a global energy infrastructure company focused on natural gas and liquefied natural gas (LNG). Its disclosures highlight an integrated business that spans LNG production, shipping, terminals and gas-to-power projects, making corporate developments, project milestones and financing decisions important for investors and stakeholders following NFE news.
News about New Fortress Energy often centers on long-term gas supply agreements, LNG and power project milestones, and capital structure actions. For example, the company has reported multi-year gas supply agreements with Puerto Rican authorities to support the island’s energy transition and grid stability. It has also announced progress at its CELBA 2 and PortoCem power plants in Brazil, as well as performance and optimization of its Fast LNG facility offshore Altamira, Mexico.
Another recurring theme in NFE news is financing and restructuring activity. The company has disclosed a forbearance agreement with holders of its 12.000% Senior Secured Notes due 2029 after a missed interest payment, along with multiple amendments to letter of credit facilities to adjust covenants and maturities. NFE has also announced a process to evaluate strategic alternatives, including asset sales, capital raising, debt amendments and refinancing transactions aimed at improving liquidity and its capital structure.
Operational and portfolio updates also feature prominently. New Fortress Energy has reported the sale of its Jamaican LNG and power assets to Excelerate Energy, Inc., long-term FSRU charters with the Egyptian Natural Gas Holding Company (EGAS), and commissioning milestones at its Brazilian power plants. Regulatory and listing updates, such as Nasdaq notices related to delayed Form 10-Q filings, provide additional context for NFE’s reporting and compliance status.
Investors and observers can use the NFE news page on Stock Titan to follow these developments, track project and contract announcements, and monitor disclosures related to the company’s debt, liquidity and strategic initiatives over time.
New Fortress Energy (NFE) reported its Q3 2024 financial results with Adjusted EBITDA of $176 million, meeting guidance of $175 million. The company posted revenues of $567.5 million and net income of $11.3 million, resulting in EPS of $0.03. NFE announced strategic financing transactions, including a planned refinancing of $2.7 billion in senior secured notes extending to 2029, extension of ~$900 million revolving credit facility, and completion of a $400 million equity raise. The company's Terminals and Infrastructure segment recorded operating margin of $184.8 million, while Ships segment contributed $34.8 million.
New Fortress Energy (NASDAQ: NFE) has announced it will release its third quarter 2024 financial results before 8:00 A.M. Eastern Time on Thursday, November 7th, 2024. The company will host a conference call at 8:00 A.M. ET on the same day. Investors can access the call by dialing (888) 204-4368 (U.S. toll-free) or +1-323-994-2093 (international) using conference code 5050993. A simultaneous webcast will be available on the company's website, and a replay will be accessible shortly after the call concludes.
Golar LNG Partners LP, a subsidiary of New Fortress Energy (NFE), announced a cash distribution of $0.546875 per unit for its 8.75% Series A Cumulative Redeemable Preferred Units. The distribution covers the period from August 15, 2024, to November 14, 2024, and will be paid on November 15, 2024. Unitholders must be on record by November 8, 2024, to receive the distribution.
New Fortress Energy (NASDAQ: NFE) has announced the completion of its third cargo loading from its initial Fast LNG unit onto the BW Pavilion, destined for NFE's Puerto Rico operation. The unit is operating at or above its nameplate capacity of 1.4 MTPA. Senior VP of FLNG Operations Barry Clayton confirmed that the facility has achieved full nameplate performance and indicated potential for further production increases through continued optimization.
New Fortress Energy (NFE) has appointed Andrew Dete, previously Managing Director, as the company's new President. Dete, who has been instrumental in NFE's commercial growth and development, joins the senior management team alongside Chairman and CEO Wes Edens, General Counsel Cameron MacDougall, and CFO Chris Guinta. The appointment was approved by NFE's board of directors.
New Fortress Energy (NFE) has announced two major debt and equity transactions totaling approximately $3 billion. The company issued 46,349,942 shares of Class A common stock at $8.63 per share, raising $400 million. CEO Wes Edens purchased $50 million worth of shares. Additionally, NFE entered into a Transaction Support Agreement with noteholders, expecting to issue $2.6 billion of senior secured notes due 2029. These transactions aim to extend NFE's debt maturity profile and provide $725 million of new capital for operations and growth.
NFE also completed its first full cargo and sail away from its Fast LNG asset in Altamira, Mexico, marking a significant operational milestone. The company expects these transactions to pave the way for growth and benefit from its global operations and assets.
New Fortress Energy Inc. (Nasdaq: NFE) has announced the completion of a $400 million public offering of Class A common stock. The company priced 46,349,942 shares at $8.63 per share. Notably, Wesley R. Edens, the company's chairman, CEO, and shareholder, agreed to purchase 5,793,742 shares at the public offering price without underwriting discounts.
The offering is expected to close on October 2, 2024, subject to customary conditions. NFE plans to use the net proceeds for general corporate purposes. Morgan Stanley & Co. is acting as joint book-running manager for the offering. The offering is being made through the company's effective shelf registration statement filed with the SEC.
New Fortress Energy (NFE) has announced a significant milestone for its initial Fast LNG asset located offshore Altamira, Mexico. The company's FLNG asset has achieved First Full Cargo & Sail Away, with its first full LNG cargo fully loaded onto the Energos Princess and setting sail for Europe.
Wes Edens, Chairman and CEO of New Fortress Energy, emphasized the importance of this achievement, stating that natural gas and power supply are critical components of a sustainable, affordable, and cleaner energy system. He expressed excitement about the company's ability to provide its own gas supply to world markets and customers.
New Fortress Energy (NFE) has announced a delay in the payment of its previously declared $0.10 per share Class A common stock dividend. The dividend, which had a record date of September 13, 2024, will be postponed until the company reaches an agreement with its noteholders to address near-term maturities and liquidity requirements. NFE expects to reach an agreement with noteholders in the near future, after which it will reevaluate the dividend payment, including its amount and potential payment timing. This decision reflects the company's focus on addressing financial obligations before distributing dividends to shareholders.
New Fortress Energy (NFE) has received authorization from the U.S. Department of Energy (DOE) to export up to 1.4 million tonnes per annum of LNG to non-Free Trade Agreement countries from its Fast LNG 1 asset located offshore Altamira, Mexico. This authorization is valid for a five-year term and complements the previously received Free Trade Agreement authorization, allowing NFE to export LNG globally.
Wes Edens, Chairman and CEO of NFE, stated that this authorization strengthens NFE's position as a leading global vertically integrated gas-to-power company and enhances the marketability of their FLNG 1 asset. The company aims to supply cheaper and cleaner natural gas to underserved markets worldwide, furthering their goal of accelerating the world's energy transition.
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