New Fortress Energy slides to an all-time low after Q1 loss

Excelerate Energy

15/05/2025 14:55

** Shares of U.S.-based LNG company New Fortress Energy NFE.O slide 51.8% to an all-time low of $3.27

 ** Company late on Wednesday reported Q1 loss, hurt by weak performance in ships, terminal and infrastructure segments

     ** NFE reports Q1 net loss of $197.4 million, compared with net income of $56.7 million a year ago

     ** NFE also closed the sale of its Jamaica assets and operations to Excelerate Energy EE.N for $1.06 billion

** "Overall results were significantly weaker than expected and much worse than even the lowest estimate on the street," says Capital One Securities

** Brokerage adds, "We are increasingly concerned that there may be little residual value for equity holders given current leverage"

     ** Including session's moves, stock down 77.3% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))