New Fortress Energy Q1 Swings to Loss, Revenue Falls; Closes Jamaican Asset Sale to Excelerate Energy

MT Newswires Live

May 15, 2025

New Fortress Energy (NFE) reported a Q1 loss late Wednesday of $0.73 per diluted share, swinging from earnings of $0.26 a year earlier.

Three analysts polled by FactSet expected a loss of $0.25.

Revenue for the quarter ended March 31 was $470.5 million, down from $690.3 million a year earlier.

Four analysts surveyed by FactSet expected $575.3 million.

The company said it closed the sale of its assets in Jamaica to Excelerate Energy (EE) for $1.06 billion. The deal involves New Fortress Energy's liquefied natural gas import terminal, an offshore floating storage and regasification terminal, and a heat and power plant.

The company plans to use the proceeds to repay existing debt and for general corporate purposes.

Shares of the company plunged nearly 25% in after-hours activity.

Price: 5.10, Change: -1.68, Percent Change: -24.79

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