In This Story
New Fortress Energy Inc. (NFE-19.84%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $2.36 billion for the year, with a gross margin of $930.5 million. The company’s net loss for the year was $242.4 million, compared to a net income of $548.9 million in the previous year.
The company’s Terminals and Infrastructure segment reported revenues of $2.04 billion, while the Ships segment contributed $170.6 million.
Significant developments include the commissioning of the Santa Catarina Facility in Brazil and the production of LNG from the first Fast LNG unit off the coast of Altamira, Mexico.
New Fortress Energy completed a series of refinancing transactions, issuing $2.7 billion in new notes to extend debt maturities and improve liquidity.
The company is pursuing a $659 million claim related to the early termination of a contract in Puerto Rico and is in discussions for strategic transactions to optimize its portfolio.
The filing details the company's development projects, including additional Fast LNG units, the Puerto Sandino Facility in Nicaragua, and the Ireland Facility.
New Fortress Energy's liquidity is supported by recent financing activities, including the issuance of $350 million in Brazil Financing Notes and a $425 million upsizing of its Term Loan B.
The company’s operations are subject to various risks, including commodity price fluctuations, regulatory changes, and geopolitical events impacting the LNG market.
Management has approved a plan to support liquidity, which includes delaying certain discretionary payments and exploring asset sales and other strategic transactions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the New Fortress Energy Inc. annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.