New Fortress Energy Inc. (NFE) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the NFV first quarter 2025 earnings call. Today's conference is being recorded. At this time, I will be handing the call over to Matt Reinhardt, Managing Director for Introductory Remarks. Good afternoon, everyone. Thank you for joining today's conference call where we will be discussing our first quarter 2025 results. The call is being recorded and will be available by replay on the Investors section of our website under the subheading Events and Presentations. At the same location, you'll find a presentation that we will walk through on today's call. Please review this as it includes important information on forward-looking statements and non-GAAP measures. With that, let me hand the call over to our Chairman and CEO, Wes Edens. Wes? Great. Thanks, Matt. Welcome, everyone. So lots to go through here this afternoon, and I'll try and make my own statements brief. Start with the core earnings for the quarter. We're very much in line with expectation. If you look at the yellow boxes on the piece of paper, you can see that post the first quarter of 24, which is the last quarter that we had the FEMA plants online in Puerto Rico, we've had basically extremely consistent core earnings, 110, 177, but then 109, 116, so very much in line with that. Our forecast for the core earnings for the remainder of the year are basically very much in line with what this is for the first half. and then accelerating the second half as we start to bring assets online, in particular those assets in Brazil. That said, the EBITDA that we had forecast for the quarter were less than that simply because we did not have any one-off results to add to it. Again, if you look at our numbers historically, we've had a combination of core results plus one-off results, and we simpl...