BUZZ-New Fortress Energy slides to an all-time low after Q1 loss

Reuters
05-15
BUZZ-New Fortress Energy slides to an all-time low after Q1 loss

** Shares of U.S.-based LNG company New Fortress Energy NFE.O slide 51.8% to an all-time low of $3.27

** Company late on Wednesday reported Q1 loss, hurt by weak performance in ships, terminal and infrastructure segments

** NFE reports Q1 net loss of $197.4 million, compared with net income of $56.7 million a year ago

** NFE also closed the sale of its Jamaica assets and operations to Excelerate Energy EE.N for $1.06 billion

** "Overall results were significantly weaker than expected and much worse than even the lowest estimate on the street," says Capital One Securities

** Brokerage adds, "We are increasingly concerned that there may be little residual value for equity holders given current leverage"

** Including session's moves, stock down 77.3% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

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