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• Core Earnings: $110 million, $177 million, $109 million, $116 million for recent quarters.

• EBITDA Forecast: $1.25 billion to $1.5 billion for the year.

• Jamaica Sale: $1.055 billion sale, $800 million net proceeds, $430 million gain.

• FEMA Claim: $659 million filed claim.

• FSRU Sub-Charters: $143 million, $59 million, $110 million, $312 million in profit; present value $236 million.

• Excess Cargo Sale: $296 million gain reported in Q4, $125 million to be collected in 2026-2028.

• Jamaica EBITDA: $125 million from stable, mature market.

• Debt Repayment: $227 million from Jamaica sale.

• Net Proceeds from Jamaica Sale: $778 million.

• Segment Operating Margin: $106 million for Q1 2025.

• Adjusted EBITDA: $82 million for Q1 2025.

• Net Loss: $200 million for Q1 2025, or $0.73 per share.

• Cash on Hand: $448 million at end of Q1 2025.

• Pro Forma Liquidity: Over $1.1 billion at end of Q1 2025.

• Warning! GuruFocus has detected 8 Warning Signs with NFE.

Release Date: May 14, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• New Fortress Energy Inc (NASDAQ:NFE) reported core earnings for the quarter in line with expectations, demonstrating consistent performance.

• The company successfully closed the sale of its Jamaica assets, generating $1.055 billion in gross proceeds and a $430 million gain.

• NFE has a strong liquidity position with over $1.1 billion in pro forma liquidity at the end of Q1 2025.

• The company is focused on deleveraging and simplifying its balance sheet, aiming to refinance its corporate debt structure.

• NFE's strategic investments in Brazil are nearing completion, with key power plants expected to reach commercial operation dates soon, providing long-term contracted assets.

Negative Points

• The company's EBITDA for the quarter was lower than forecasted due to the absence of one-off results.

• NFE reported a net loss of $200 million for Q1 2025, translating to a loss of $0.73 per share.

• The delay in Brazil's capacity auction has created short-term uncertainty, although the structural need for power remains.

• The Puerto Rico energy system is under-invested and antiquated, posing challenges for NFE's operations and growth in the region.

• NFE's FLNG 2 project has seen little development progress over the last 60 days, indicating potential delays.

Q & A Highlights

Q: Could you explain the restricted cash on the balance sheet and any hurdles to make it unrestricted? A: Christopher Guinta, CFO: The restricted cash is primarily related to CapEx in Brazil for the CELBA and PortoCem power plants. About $40 million to $50 million is restricted for other credit instruments, with $30 million potentially freed up following the Jamaica transaction.