New Fortress Energy Inc. has recently released its 10-Q report, providing a detailed look at the company's financial performance. The company operates as an integrated gas-to-power energy infrastructure company, with two segments: Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in natural gas procurement, liquefaction, logistics, shipping, facilities, and conversion or development of natural gas-fired power generation. The Ships segment offers floating storage and regasification units (FSRU) and liquefied natural gas (LNG) carriers, leased to customers under long-term or spot arrangements.
Moving on to Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, the report includes forward-looking statements, with a warning that actual events or results may differ materially from the anticipated results due to various factors. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America, providing investors with an understanding of the company’s past performance and current financial condition.
The company's near-term mission is to provide modern infrastructure solutions to create cleaner, reliable energy while generating a positive economic impact worldwide. New Fortress Energy's long-term mission is to become one of the world’s leading companies providing power free from carbon emissions by leveraging its global portfolio of integrated energy infrastructure. The company's chief operating decision maker makes resource allocation decisions and assesses performance on the basis of two operating segments, Terminals and Infrastructure and Ships.
In March 2025, the company entered into an equity and asset purchase agreement to sell its Jamaica business for cash consideration of approximately $1.06 billion. The company completed the sale of the Jamaica business and received net proceeds of approximately $678 million, with additional $99 million proceeds held in escrow. As a result, the company will no longer reflect the results of operations from the Montego Bay Facility and the Old Harbour Facility in its financial statements.
New Fortress Energy's current operations in the Terminals and Infrastructure segment include the San Juan Facility, La Paz Facility, Santa Catarina Facility, Montego Bay Facility, and Old Harbour Facility. The company has successfully employed its strategy to secure long-term contracts with significant customers, including Jamaica Public Service Company Limited, Puerto Rico Electric Power Authority, Comisión Federal de Electricidad, and others. The company has also entered into agreements for the installation and operation of additional power generation and gas supply.
In addition, the company has expanded its focus to building its modular LNG manufacturing business. It has commenced commercial operations at the Port of Pichilingue in Baja California Sur, Mexico, and placed the La Paz Power Plant into service. New Fortress Energy has also placed its Santa Catarina Facility in service and acquired 100% of the outstanding equity interest of Usina Termeletrica de Lins S.A. in Brazil.
Regarding LNG supply and cargo sales, the company provides reliable, affordable, and clean energy supplies to customers worldwide through various sources, including its own FLNG production and additional LNG supply contracts expected to commence in 2027. New Fortress Energy has binding contracts for LNG volumes from two separate U.S. LNG facilities, each with a 20-year term, expected to commence in 2027 and 2029.
In terms of the company's current operations in the Ships segment, its shipping assets include FSRUs, FSUs, and LNG carriers. The company completed a transaction with an affiliate of Apollo Global Management, Inc., transferring ownership of eleven vessels to Energos in exchange for approximately $1.85 billion in cash and a 20% equity interest in Energos. These vessels continue to be recognized on the company's Consolidated Balance Sheet as Property, plant and equipment, and the proceeds associated with these vessels have been treated as a failed sale leaseback.
The 10-Q report provides a comprehensive look at New Fortress Energy's operations, financial condition, and future outlook, offering valuable insights for investors and stakeholders. Following these announcements, the company's shares moved 5.04%, and are now trading at a price of $2.50. If you want to know more, read the company's complete 10-Q report here.
