Press release
New Fortress Energy Announces Second Quarter 2025 Results
NEW YORK--(BUSINESS WIRE)-- New Fortress Energy Inc. (Nasdaq: NFE) (“NFE” or the “Company”) today reported its financial results for the second quarter of
About this update from New Fortress Energy Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nNew Fortress Energy Inc. (Nasdaq: NFE) (“NFE” or the “Company”) today reported its financial results for the second quarter of 2025.\n\n\n\nAdjusted EBITDA(1) of $(4) million in the second quarter of 2025\n\n\n\nNet loss of $557 million in the second quarter of 2025\n\n\nSignificant non-cash impairments of assets and goodwill totaling $699 million\n\n\n\nGain on sale of our Jamaican operations of $473 million\n\n\n\n\n\n\nEPS of $(2.02) on a fully diluted basis in the second quarter of 2025\n\n\n\nTotal cash balance of $821 million, of which $551 million is unrestricted as of June 30, 2025\n\n\n\nWe believe there are a number of substantial commercial opportunities to improve our results of operations and liquidity position by the end of 2025, including:\n\n\n\nWe continue to negotiate a long-term gas sale agreement (\"GSA\") with PREPA to provide gas island-wide in Puerto Rico. During these negotiations we are extending the current island-wide GSA on a weekly basis as we work towards a long-term agreement that is in the best interests of both parties and achieves our mutual goal of sustained, efficient, and economical power generation for the people of Puerto Rico.\n\n\n\nWe continue to be in active dialogue with FEMA and the US Army Corps of Engineers on our Request for an Equitable Adjustment related to the temporary power solution in Puerto Rico and are increasingly confident the matter will be resolved by the end of this year.\n\n\n\nWe have begun the commissioning of our 624 MW CELBA plant, and we expect the power plant to be operational(3) before the end of the year.\n\n\n\nWe continue to optimize our shipping portfolio; we executed a 10 year charter for the Energos Eskimo with the Egyptian Natural Gas Holding Company (\"EGAS\") in Q4 2024, and we have executed a 3 year charter for the Energos Freeze with Energia 2000 S.A. in Q2 2025. Furthermore, we executed a 5 year charter for the Energos Winter with EGAS in July.\n\n\n\nWe are encouraged by a recent announcement in Brazil of an intention to hold power auctions on March 13, 2026. We think the ultimate size of the auction could be larger than initially expected, potentially as large as 15 GW. We believe our critical infrastructure assets, including our terminal in Santa Catarina, positions us well to either develop our own power projects or...