Shares of New Fortress Energy LLC (NFE) continued their downward spiral in after-hours trading on Friday, plummeting an additional 5.26% following a challenging day in the regular session. The extended drop comes as investors continue to grapple with the company's disappointing first-quarter results and growing concerns over weakening natural gas demand.

New Fortress Energy's first-quarter performance fell significantly short of expectations, with the company reporting a net loss of $197.4 million, or $0.73 per share, compared to a net income of $56.7 million, or $0.26 per share, in the same period last year. Revenue also missed the mark, coming in at $470.5 million against analysts' projections of $575.3 million. The company's terminals and infrastructure unit was particularly hard hit, with its operating margin declining by a steep 78.7% to $74.6 million.

Adding to NFE's woes are broader market trends affecting the natural gas sector. Natural gas futures have been under pressure due to lower-than-expected demand forecasts, exacerbated by reduced gas flows to LNG export plants during the spring maintenance season. As investors reassess the implications of these results and market conditions, New Fortress Energy's stock remains under significant selling pressure, both in regular trading and after hours.