Excelerate Energy, Inc. (NYSE: EE) has reported strong financial results for the second quarter ended June 30, 2025, with reported net income of $20.8 million and adjusted net income of $46.8 million. The company also reported adjusted EBITDA of $107.1 million for the second quarter. These figures reflect a decrease in net income from the previous quarter, attributed to transition and transaction costs incurred due to the Jamaica acquisition, as well as higher interest expense and expected seasonality. However, adjusted EBITDA increased sequentially due to the addition of Jamaica EBITDA, partially offset by lower Atlantic basin margin and timing of vessel operating costs.
In comparison to the second quarter of 2024, net income for the second quarter of 2025 decreased due to transition and transaction costs incurred as a result of the Jamaica acquisition and an increase in interest expense, partially offset by the addition of Jamaica EBITDA. Adjusted net income and adjusted EBITDA for the second quarter of 2025 increased from the prior year second quarter primarily due to the addition of Jamaica EBITDA.
The company closed the acquisition of the Jamaica integrated LNG and power platform in May, with the integration on track and assets exceeding operational expectations. Additionally, Excelerate raised its full-year 2025 adjusted EBITDA guidance, now expected to range between $420 million and $440 million.
Furthermore, Excelerate declared a quarterly cash dividend of $0.08 per share, representing an approximately 33 percent increase from the prior quarter. The dividend is payable on September 4, 2025.
In terms of commercial updates, Excelerate completed the acquisition of an integrated LNG and power platform in Jamaica, and in July 2025, the company finalized an agreement to purchase an LNG carrier, the Excelerate Shenandoah, to service a mid-term Atlantic basin supply deal.
As of June 30, 2025, Excelerate had $426.0 million in unrestricted cash and cash equivalents, with no letters of credit under its revolving credit facility. The company's board of directors also approved a quarterly cash dividend equal to $0.08 per share, representing approximately a 33 percent increase from the prior quarter.
Excelerate has revised its full year 2025 guidance range, raising its adjusted EBITDA guidance to include the anticipated contribution from the Jamaica acquisition. The company now expects adjusted EBITDA to range between $420 million and $440 million for the full year 2025. Additionally, maintenance capex for 2025 is now expected to range between $65 million and $75 million, while committed growth capital for 2025 is expected to range between $95 million and $105 million. The market has reacted to these announcements by moving the company's shares -0.41% to a price of $24.32. If you want to know more, read the company's complete 8-K report here.
