Fermi Sinks on FY25 Loss, Lack of Tenant Lease

Dow Jones03-31

By Nicholas G. Miller

Shares of Fermi sank after the private-electric-grid company reported a fiscal year loss and said it hadn't yet agreed to its first tenant lease.

The stock fell 16% to $5.20 and is down 35% this year.

The Amarillo, Texas, company posted a net loss of $486.4 million, or $1.13 a share, for fiscal 2025.

Shareholders have been waiting for Fermi to announce its first definitive tenant lease but the company said Monday, "we will move forward only when the terms, the partner, and the capital structure meet the disciplined capital and risk standards we require for long-term value creation."

In December, a prospective tenant backed out of a $150 million construction agreement with Fermi, which led the company's stock to fall.

But the company said that the letter of intent with the tenant remains in place and has served as the framework for lease negotiations with other tenants. Evercore analysts said in a note Monday that negotiations with tenants could be picking up in urgency and magnitude.

Write to Nicholas G. Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

March 30, 2026 12:30 ET (16:30 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Miller at nicholas.miller@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 30, 2026 12:30 ET (16:30 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FRMI","symbol_name":"Fermi Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2623347486","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2623347486","pubTimestamp":1774888200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Fermi sank after the private-electric-grid company reported a fiscal year loss and said it hadn't yet agreed to its first tenant lease.The stock fell 16% to $5.20 and is down 35% this year.The Amarillo, Texas, company posted a net loss of $486.4 million, or $1.13 a share, for fiscal 2025.Shareholders have been waiting for Fermi to announce its first definitive tenant lease but the company said Monday, \"we will move forward only when the terms, the partner, and the capital structure meet the disciplined capital and risk standards we require for long-term value creation.\". In December, a prospective tenant backed out of a $150 million construction agreement with Fermi, which led the company's stock to fall.But the company said that the letter of intent with the tenant remains in place and has served as the framework for lease negotiations with other tenants. Evercore analysts said in a note Monday that negotiations with tenants could be picking up in urgency and magnitude.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"FRMI":"Fermi Inc.","BK4222":"数据中心房地产信托"},"translate_title":"费米因2025财年亏损、缺乏租户租赁而陷入困境","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FRMI":1.5},"content_text":"By Nicholas G. Miller \n\n\n \n\n\n  Shares of Fermi sank after the private-electric-grid company reported a fiscal year loss and said it hadn't yet agreed to its first tenant lease. \n\n\n  The stock fell 16% to $5.20 and is down 35% this year. \n\n\n  The Amarillo, Texas, company posted a net loss of $486.4 million, or $1.13 a share, for fiscal 2025. \n\n\n  Shareholders have been waiting for Fermi to announce its first definitive tenant lease but the company said Monday, \"we will move forward only when the terms, the partner, and the capital structure meet the disciplined capital and risk standards we require for long-term value creation.\" \n\n\n  In December, a prospective tenant backed out of a $150 million construction agreement with Fermi, which led the company's stock to fall. \n\n\n  But the company said that the letter of intent with the tenant remains in place and has served as the framework for lease negotiations with other tenants. Evercore analysts said in a note Monday that negotiations with tenants could be picking up in urgency and magnitude. \n\n\n \n\n\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 30, 2026 12:30 ET (16:30 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2623347486","isCrawlerRequest":true}