New Fortress Energy Inc.

Listed Company

NFECIK 0001749723NasdaqAcceleratedNatural Gas DistributionDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.50B

Net Income

$-1.83B

Total Assets

—

Equity

—

Shares Out

285.63M

Op. Cash Flow

$-583.38M

Business

New Fortress Energy Inc. is a global energy infrastructure company that owns and operates LNG and natural gas infrastructure and an integrated fleet to deliver turnkey energy solutions. It supplies LNG and regasified natural gas, operates modular liquefaction (Fast LNG) units, leasing and operating FSRUs, FSUs and LNG carriers, and develops gas-fired power plants and clean hydrogen projects (ZeroParks) and a data center power business (Klondike). Its key divisions include Ships and Terminals and Infrastructure, plus Zero and Klondike. The company serves customers worldwide through long-term supply contracts, terminal operations, shipping charters and regional downstream facilities across the Caribbean, Latin America, Brazil, Mexico, the U.S. and Europe.

Summary from filing dated 2025-03-10

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
Operating revenue	1,180	1,697	2,060	1,979	931
Vessel charter revenue	191	209	252	357	231
Contract novation income	6	296	0	0	—
Other revenue	128	157	78	32	161
Total revenues	1,504	2,359	2,391	2,368	1,323
Cost of sales (exclusive of depreciation and amortization shown separately below)	919	1,065	879	1,010	616
Vessel operating expenses	27	33	45	64	52
Operations and maintenance	219	171	176	106	73
Selling, general and administrative	307	293	203	236	200
Transaction and integration costs	162	12	7	22	45
Depreciation and amortization	204	159	161	143	98
Goodwill impairment expense	598	0	0	—	—
Asset impairment expense	861	16	11	—	—
(Gain) loss on sale	−671	80	−28	0	0
Total operating expenses	2,624	1,830	1,455	1,631	1,084
Operating (loss) income	−1,120	528	936	737	239
Interest expense	778	316	284	237	—
Other (income) expense, net	−148	116	10	−48	−17
Loss on extinguishment of debt, net	20	270	0	15	11
(Loss) income before income taxes	−1,771	−174	641	534	91
Income from equity method investments	0	0	10	−472	14
Tax provision	61	70	103	−123	12
Net (loss) income	−1,832	−245	548	185	93
Net (loss) attributable to common stockholders	−1,845	−272	547	194	—
Net (loss) income per share - basic (in dollars per share)	−6.63	−1.25	2.66	0.93	0.49
Net (loss) income per share - diluted (in dollars per share)	−6.63	−1.26	2.65	0.93	0.47
Weighted average number of shares outstanding - basic (in shares)	278	218	206	210	199
Weighted average number of shares outstanding - diluted (in shares)	278	219	206	210	202
Currency translation adjustment	48	−66	19	68	−3
Reclassification of net foreign currency translation adjustment realized upon sale of foreign subsidiary	0	0	−1	0	0
Comprehensive (loss) income	−1,784	−310	565	253	89
Comprehensive (income) attributable to non-controlling interest	−14	−6	−1	11	6
Comprehensive (loss) income attributable to stockholders	−1,797	−316	564	264	95

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-09-30	FY 2025 2025-06-30	FY 2025 2025-03-31	FY 2024 2024-12-31
Cash and cash equivalents	226	145	551	448	493
Restricted cash	130	244	270	380	473
Receivables, net of allowances	452	423	270	272	331
Inventory	119	109	74	67	103
Prepaid expenses and other current assets, net	400	427	326	205	212
Total current assets	1,329	1,349	1,491	1,475	1,613
Construction in progress	3,594	4,298	4,128	3,934	3,527
Property, plant and equipment, net	4,893	5,542	5,537	5,550	5,929
Right-of-use assets	412	418	438	466	619
Intangible assets, net	188	196	195	188	180
Goodwill	0	16	16	609	783
Deferred tax assets, net	0	7	781,000	7	3
Other non-current assets, net	141	169	214	218	270
Total assets	10,556	11,995	12,020	13,082	12,923
Current portion of long-term debt and short-term borrowings	7,073	—	—	—	539
Accounts payable	732	635	580	658	482
Accrued liabilities	598	511	283	288	435
Current lease liabilities	72	64	74	77	123
Other current liabilities	178	186	108	172	175
Total current liabilities	8,653	7,976	2,227	1,492	1,753
Long-term debt	1,105	2,340	7,810	8,937	8,362
Non-current lease liabilities	319	328	342	355	475
Deferred tax liabilities, net	77	59	63	53	75
Other long-term liabilities	92	108	156	174	167
Total liabilities	10,246	10,811	10,597	11,147	10,832
Commitments and contingencies (Note 25)	—	—	—	—	—
Series B convertible preferred stock, $0.01 par value, shares authorized, issued and outstanding as of December 31, 2025 (96,746 as of December 31, 2024); aggregate liquidation preference of $ and $96,746 at December 31, 2025 and December 31, 2024	0	0	41	41	91
Class A common stock, $0.01 par value, 750.0 million shares authorized, 284.6 million issued and outstanding as of December 31, 2025; 266.5 million issued and outstanding as of December 31, 2024	3	3	3	3	3
Additional paid-in capital	1,776	1,773	1,726	1,723	1,674
(Accumulated deficit) retained earnings	−1,651	−798	−529	15	194
Accumulated other comprehensive income	54	78	59	31	8
Total stockholders equity attributable to NFE	183	1,055	1,259	1,772	1,878
Non-controlling interest	127	129	122	123	123
Total stockholders equity	310	1,184	1,382	1,895	2,001
Total liabilities and stockholders equity	10,556	11,995	12,020	13,082	12,923

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 deferred financing costs and debt guarantee, net	54	31	7	3	14
Depreciation and amortization	242	159	161	144	100
Deferred taxes	26	−3	14	−280	−9
Share-based compensation	15	51	2	30	37
Earnings recognized from vessels chartered to third parties transferred to Energos	−48	−95	−157	−50	0
(Gain) loss on sale of assets, net	−671	80	−28	0	0
Other	93,000	166	77	−60	−11
(Increase) decrease in receivables	−216	68	−42	−140	−124
(Increase) in inventories	−38	−251,000	−42	−8	−11
(Increase) decrease in other assets	−62	−71	43	−30	−2
Decrease in right-of-use assets	63	164	84	64	29
Increase in accounts payable/accrued liabilities	514	194	89	68	18
(Decrease) in lease liabilities	−76	−161	−75	−63	−36
Increase (decrease) in other liabilities	−32	−22	127	5	−21
Net cash (used in) provided by operating activities	−583	602	819	355	85
Capital expenditures	−651	−2,131	−2,920	−1,174	−669
Sale of Jamaica Business	962	0	0	—	—
Sale of vessels to Energos	150	0	0	—	—
Sale of equity method investment	0	136	100	500	0
Other asset sales	0	329	16	0	—
Sale of Miami Facility	0	58	0	0	—
Other investing activities	5	23	9	−2	−9
Net cash provided by (used in) investing activities	466	−1,584	−2,794	−83	−2,274
Proceeds from borrowings of debt	1,375	5,865	3,015	2,032	2,435
Payments made for capital expenditures paid beyond customary vendor payment terms	−258	−506	−104	—	—
Repayment of debt	−1,607	−3,801	−696	−1,521	−461
Payment of deferred financing costs	−28	−147	−38	−18	−38
Payment of dividends	−3	−65	−724	−99	−89
Issuance of Class A stock	0	387	0	0	0
Other financing activities	−23	−14	−28	−73	0
Net cash (used in) provided by financing activities	−544	1,719	1,425	322	1,817
Impact of changes in foreign exchange rates on cash and cash equivalents	53	−82	6	−3	7
Net (decrease) increase in cash, cash equivalents and restricted cash	−609	655	−544	591	−365
Cash paid for interest, net of capitalized interest	352	90	106	161	154
Changes in accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions	−184	−237	323	284	109
Accounts payable and accrued liabilities associated with construction in progress and property, plant and equipment additions	234	494	738	422	—
Principal payments on financing obligation paid to Energos by third party charters	−31	−22	−67	−25	0
Non-cash settlement of Vessel Financing Obligation	734	0	0	—	—
Proceeds held in escrow	58	0	0	—	—
Preferred shares issued and debt assumed in PortoCem acquisition	0	−125	0	0	—
Fair value of contingent payments in the Lins acquisition	0	8	0	0	—
Deemed dividend related to Series B preferred stock	0	−18	0	0	—
Non-cash financing costs	0	182	0	46	0
Consideration received on asset sale	0	0	28	0	0
Shares received in Hilli Exchange	0	0	−123	0	0
Investment in Energos	0	0	2	130	0

Filings

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