Excelerate Energy, Inc.

Listed Company

EECIK 0001888447NYSELarge AcceleratedNatural Gas DistributionDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.23B

Net Income

—

Total Assets

$4.13B

Equity

$2.23B

Shares Out

—

Op. Cash Flow

$461.21M

Business

Excelerate Energy, Inc. provides integrated LNG solutions across the LNG value chain, specializing in regasification services and operation of FSRUs. Its main offerings include time-chartered FSRUs, regasification terminals and related infrastructure development, LNG and natural gas procurement and sales, and vessel operations and technical management. The company operates through core areas including its FSRU fleet and regasification terminal services, LNG and natural gas supply and optimization, and integrated project development. Its services are delivered globally, with a regional presence in 11 countries and operational activities in Argentina, Bangladesh, Brazil, Finland, Germany, Pakistan, the UAE and the United States via long-term charters, terminal use agreements and LNG sale contracts.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,228	851	1,159	2,473	889
Cost of LNG, gas and power (exclusive of items below)	538	228	518	209	193
Operating expenses	184	216	228	—	—
Depreciation and amortization	111	99	114	97	105
Selling, general and administrative expenses	94	94	87	66	47
Transition and transaction expenses	34	—	—	7	14
Total operating expenses	962	636	948	2,286	749
Operating Income	267	215	211	187	139
Interest expense	−81	−47	−52	−34	−32
Interest expense - related party	−13	−14	−15	−26	49
Earnings from equity method investment	2	2	883,000	3	3
Other income, net	20	23	16	312,000	564,000
Income before income taxes	195	179	160	108	62
Provision for income taxes	−28	−26	−33	−28	−21
Net income	167	153	127	80	41
Less net income attributable to non-controlling interest	128	120	96	55	3
Net income attributable to shareholders	39	33	30	13	0
Net income per common share - basic	1.31	1.29	1.16	0.51	0
Net income per common share - diluted	1.28	1.27	1.11	0.51	0
Weighted average shares outstanding - basic	30	25	26	26	0
Weighted average shares outstanding - diluted	31	26	108	26	0

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	538	538	556	517	73
Current portion of restricted cash	3	3	3	3	2
Accounts receivable, net	83	120	97	82	261
Current portion of net investments in sales-type leases	39	43	16	13	12
Other current assets	90	51	27	35	26
Total current assets	753	754	700	824	490
Restricted cash	15	14	14	19	16
Property and equipment, net	2,132	1,623	1,650	1,456	1,433
Intangible assets, net	359	0	—	—	—
Goodwill	235	0	—	—	—
Operating lease right-of-use assets	167	5	6	79	106
Net investments in sales-type leases	338	377	384	400	413
Investment in equity method investee	18	19	21	25	22
Deferred tax assets, net	25	28	43	40	939,000
Other assets	88	63	49	26	19
Total assets	4,131	2,883	2,860	2,867	2,501
Accounts payable	47	7	14	97	304
Accrued liabilities and other liabilities	123	70	90	67	105
Current portion of deferred revenue	57	58	27	145	10
Current portion of long-term debt	24	47	43	21	19
Current portion long-term debt - related party	11	9	8	8	—
Current portion of operating lease liabilities	24	2	2	34	30
Current portion of finance lease liabilities	25	23	22	21	22
Total current liabilities	310	216	204	392	520
Long-term debt, net	913	287	333	193	214
Long-term debt,net - related party	151	162	172	181	—
Operating lease liabilities	139	3	5	48	78
Finance lease liabilities	145	168	190	210	230
TRA liability	51	59	67	73	—
Asset retirement obligations	63	44	42	40	35
Long-term deferred revenue	29	28	29	—	—
Deferred tax liability	65	0	—	—	—
Other long-term liabilities	37	28	14	33	—
Total liabilities	1,902	995	1,051	1,170	1,497
Commitments and contingencies (Note 23)	—	—	—	—	—
Additional paid-in capital	635	467	466	465	—
Retained earnings	103	72	40	12	—
Accumulated other comprehensive income (loss)	−112,000	502,000	505,000	515,000	−9
Treasury stock (2,685,679 shares as of December 31, 2025 and 2,564,058 shares as of December 31, 2024	−55	−52	−472,000	0	—
Non-controlling interest	1,547	1,401	1,304	1,219	14
Total equity	2,229	1,889	1,809	1,697	1,004
Total liabilities and equity	4,131	2,883	2,860	2,867	2,501

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of operating lease right-of-use assets	15	2	15	32	23
ARO accretion expense	3	2	2	1	1
Amortization of debt issuance costs	7	3	6	3	1
Deferred income taxes	3	4	−3	2	−966,000
Distributions from equity method investee	3	2	5	5	0
Long-term incentive compensation expense	12	7	4	956,000	0
(Gain)/loss on non-cash items	0	−44,000	1	−2	0
Accounts receivable	83	−21	−21	198	247
Other current assets and other assets	−28	−49	157	−95	−18
Accounts payable and accrued liabilities	68	−25	−54	−255	341
Current portion of deferred revenue	−6	31	−118	135	−2
Net investments in sales-type leases	43	26	13	12	10
Operating lease assets and liabilities	−15	−2	−15	—	—
Tax receivable agreement liability	−8	−3	−6	0	0
Other long-term liabilities	4	19	6	−10	−6
Net cash provided by operating activities	461	244	232	225	142
Net cash paid for Acquisition	−1,019	0	0	—	—
Purchases of property and equipment	−163	−113	−313	−119	−36
Sales of property and equipment	0	0	4	0	0
Net cash used in investing activities	−1,182	−113	−309	−119	−36
Proceeds from issuance of Class A Common stock, net	202	0	0	412	0
Repurchase of Class A Common Stock	0	−50	0	0	0
Proceeds from issuance of long-term debt	800	0	250	0	0
Repayments of long term debt	−187	−45	−87	−20	−29
Repayments of long-term debt - related party	−9	−9	−8	−653	−82
Payment of debt issuance costs	−21	0	−8	−6	−1
Principal payments under finance lease liabilities	−22	−21	−21	−20	−36
Taxes withheld for long-term incentive compensation	−1	−400,000	−52,000	0	—
Dividends paid	−9	−3	−3	−1	0
Distributions	−30	−23	−16	−4	0
Other financing activities	−314,000	1	3	—	—
Net cash provided by (used in) financing activities	723	−149	111	341	−124
Effect of exchange rate on cash, cash equivalents, and restricted cash	87,000	−119,000	−121,000	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash	2	−18	34	447	−19

Filings

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