Excelerate Energy Reports First Quarter 2026 Results

About this update from Excelerate Energy, Inc.

THE WOODLANDS, Texas, May 06, 2026--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (Excelerate or the Company) today reported its financial results for the first quarter ended March 31, 2026. RECENT HIGHLIGHTS CEO COMMENT "Excelerate delivered strong financial and operational results in the first quarter, demonstrating the strength of our contracted asset portfolio and the consistency of our operations around the world. Our global footprint provides revenue and earnings diversification, and it is a core reason we are able to perform across market cycles," said Steven Kobos, President and CEO of Excelerate Energy. Kobos continued, "Approximately 200 million tonnes of new LNG supply are expected to come online by the end of the decade, and the push for greater supply diversification is accelerating. The need for regasification infrastructure is growing. Our position as a leading global provider, combined with the strength of our balance sheet, positions us to meet that need. We are revising our full-year guidance to reflect the delayed startup of our Iraq terminal due to the ongoing conflict in the Middle East, mitigated in part by the expected interim deployment of the Excelerate Acadia to Jordan. The Iraq project fundamentals remain unchanged. Looking ahead, we continue to have confidence in our sequenced earnings growth through 2028." FIRST QUARTER 2026 FINANCIAL RESULTS Net Income and Adjusted EBITDA for the first quarter of 2026 increased sequentially from the prior quarter primarily due to vessel optimization and higher LNG, gas, and power margins. Net Income decreased from the prior year first quarter primarily due to higher interest expense related to the 2030 Notes, seasonal maintenance expenses, and an increase in provision for income taxes, partially offset by an increase in LNG, gas and power sales opportunities, mostly related to the Jamaica acquisition. Adjusted EBITDA for the first quarter of 2026 increased from the prior year first quarter primarily due to an increase in LNG, gas and power sales opportunities mostly due to the impact from the Jamaica acquisition. KEY COMMERCIAL UPDATES Excelerate’s terminal services operations performed as expected during the first quarter, supported by long-term, high-quality contracts. The Explorer and Express FSRUs remained fully operational in the UAE, with crews safe and assets ...

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