New Fortress Energy (NASDAQ:NFE) Q2 results miss expectations

Full story: https://grafa.com/news/new-fortress-energy--nasdaq-nfe--q2-results-miss-expectations-259580

New Fortress Energy (NASDAQ:NFE) experienced a sharp decline in its second-quarter performance, failing to meet earnings expectations due to operational delays at its floating LNG export facility off the coast of Altamira, Mexico.

For the quarter, New Fortress posted a net loss of $88 million, equating to a loss per share of 44 cents.

This result was substantially below the consensus estimate of nine analysts surveyed by LSEG, who had anticipated earnings of 7 cents per share.

Revenue also declined by 23.8%, totaling $428.01 million compared to $690 million in the previous quarter, missing the expected $509.24 million.

The company's core earnings, or EBITDA, plummeted to $120 million from $340 million in the first quarter.

Wesley Edens, the Chairman of New Fortress, expressed his disappointment during an earnings call and attributed the poor performance primarily to the delays in the commencement of Mexico's inaugural LNG export operation.

"The misses were entirely a result of the delay in the deployment of our first FLNG asset," Edens explained.

Despite the setbacks, he revealed that the facility managed to export its first partial shipment of superchilled gas on Friday morning.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

1

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":336623649972584,"tweetId":"336623649972584","gmtCreate":1723221788118,"gmtModify":1723222578845,"author":{"id":4169784042383112,"authorId":4169784042383112,"authorIdStr":"4169784042383112","name":"Grafa","avatar":"https://community-static.tradeup.com/news/ec1614006170d0aa3182195a94e8944d","vip":2,"userType":2,"introduction":"Grafa generates AI-driven data, news and analysis about NYSE, Nasdaq and ASX stocks","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":139,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://community-static.tradeup.com/news/82cdfe94ddeebd6fc6be369bbdee2fd2"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/82cdfe94ddeebd6fc6be369bbdee2fd2"}],"title":"New Fortress Energy (NASDAQ:NFE) Q2 results miss expectations","html":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/82cdfe94ddeebd6fc6be369bbdee2fd2\"></p>\n<p>Full story: <a href=\"https://grafa.com/news/new-fortress-energy--nasdaq-nfe--q2-results-miss-expectations-259580?utm_source=ttmfinancial&amp;medium=social&amp;campaign=259580&amp;referralcode=A314DFDBE96C354756A893C6E3E02493\">https://grafa.com/news/new-fortress-energy--nasdaq-nfe--q2-results-miss-expectations-259580</a></p>\n<p>New Fortress Energy (NASDAQ:NFE) experienced a sharp decline in its second-quarter performance, failing to meet earnings expectations due to operational delays at its floating LNG export facility off the coast of Altamira, Mexico.</p> \n<p>For the quarter, New Fortress posted a net loss of $88 million, equating to a loss per share of 44 cents.</p> \n<p>This result was substantially below the consensus estimate of nine analysts surveyed by LSEG, who had anticipated earnings of 7 cents per share.</p> \n<p>Revenue also declined by 23.8%, totaling $428.01 million compared to $690 million in the previous quarter, missing the expected $509.24 million.</p> \n<p>The company's core earnings, or EBITDA, plummeted to $120 million from $340 million in the first quarter.</p> \n<p>Wesley Edens, the Chairman of New Fortress, expressed his disappointment during an earnings call and attributed the poor performance primarily to the delays in the commencement of Mexico's inaugural LNG export operation.</p> \n<p>\"The misses were entirely a result of the delay in the deployment of our first FLNG asset,\" Edens explained.</p> \n<p>Despite the setbacks, he revealed that the facility managed to export its first partial shipment of superchilled gas on Friday morning.</p></body></html>","htmlText":"<html><head></head><body><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/82cdfe94ddeebd6fc6be369bbdee2fd2\"></p>\n<p>Full story: <a href=\"https://grafa.com/news/new-fortress-energy--nasdaq-nfe--q2-results-miss-expectations-259580?utm_source=ttmfinancial&amp;medium=social&amp;campaign=259580&amp;referralcode=A314DFDBE96C354756A893C6E3E02493\">https://grafa.com/news/new-fortress-energy--nasdaq-nfe--q2-results-miss-expectations-259580</a></p>\n<p>New Fortress Energy (NASDAQ:NFE) experienced a sharp decline in its second-quarter performance, failing to meet earnings expectations due to operational delays at its floating LNG export facility off the coast of Altamira, Mexico.</p> \n<p>For the quarter, New Fortress posted a net loss of $88 million, equating to a loss per share of 44 cents.</p> \n<p>This result was substantially below the consensus estimate of nine analysts surveyed by LSEG, who had anticipated earnings of 7 cents per share.</p> \n<p>Revenue also declined by 23.8%, totaling $428.01 million compared to $690 million in the previous quarter, missing the expected $509.24 million.</p> \n<p>The company's core earnings, or EBITDA, plummeted to $120 million from $340 million in the first quarter.</p> \n<p>Wesley Edens, the Chairman of New Fortress, expressed his disappointment during an earnings call and attributed the poor performance primarily to the delays in the commencement of Mexico's inaugural LNG export operation.</p> \n<p>\"The misses were entirely a result of the delay in the deployment of our first FLNG asset,\" Edens explained.</p> \n<p>Despite the setbacks, he revealed that the facility managed to export its first partial shipment of superchilled gas on Friday morning.</p></body></html>","text":"Full story: https://grafa.com/news/new-fortress-energy--nasdaq-nfe--q2-results-miss-expectations-259580 New Fortress Energy (NASDAQ:NFE) experienced a sharp decline in its second-quarter performance, failing to meet earnings expectations due to operational delays at its floating LNG export facility off the coast of Altamira, Mexico. For the quarter, New Fortress posted a net loss of $88 million, equating to a loss per share of 44 cents. This result was substantially below the consensus estimate of nine analysts surveyed by LSEG, who had anticipated earnings of 7 cents per share. Revenue also declined by 23.8%, totaling $428.01 million compared to $690 million in the previous quarter, missing the expected $509.24 million. The company's core earnings, or EBITDA, plummeted to $120 million from $340 million in the first quarter. Wesley Edens, the Chairman of New Fortress, expressed his disappointment during an earnings call and attributed the poor performance primarily to the delays in the commencement of Mexico's inaugural LNG export operation. \"The misses were entirely a result of the delay in the deployment of our first FLNG asset,\" Edens explained. Despite the setbacks, he revealed that the facility managed to export its first partial shipment of superchilled gas on Friday morning.","highlighted":1,"essential":1,"paper":2,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/336623649972584","repostId":0,"isVote":1,"tweetType":1,"viewCount":104,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["NQmain","NDAQ",".IXIC","NFE"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":1113,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/336623649972584"}