New Fortress Energy Inc. (NFE) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the NFE fourth quarter 2024 earnings call. Today's conference is being recorded. At this time, I would like to turn the conference over to Matt Reinhardt, Managing Director for Introductory Remarks. Please go ahead. Thank you and good afternoon, everyone. Thank you for joining today's conference call where we will discuss our fourth quarter and full year 2024 results. This 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 will 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, I'll turn it over to our Chairman and CEO, Wes Edens. All right, great, Matt, and thanks, everyone, for dialing in. Let's just jump into it here and start with the presentation that we sent out. So starting on page number three, quarterly financial results and annual financial results. So very, very good quarter concluding a very, very good year. $313 million in EBITDA for the quarter. That's roughly a 50% increase over the guidance that we had previously provided, so it was a big beat for that. Very positive outlook for 2025 and beyond. We were confirming our guidance for a billion dollars for this year in total, so by the numbers, a very, very good report. The profile of the business that we run is tremendous. We're an integrated gas to power company. We have five countries, seven terminals, manage or own nearly 10 gigawatts of power, so a very, very significant portfolio. It's a capital-intensive business to build, which is the bad news. But once it's created, as it largely is now, it has massive competitive barriers to en...