NASDAQ$NFE
New Fortress Energy Inc. · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
New Fortress Energy reported financial results, marked by increased revenue and positive operating margin, offset by a net loss due to contract termination charges.
New Fortress Energy reported an increase in revenue driven by higher volumes and a positive operating margin for Q2 2020. However, the company experienced a significant net loss due to contract termination charges related to the termination of 2020 cargos.
- Operating Margin increased by $17.4 million since the first quarter to $15.2 million.
- Record volumes were achieved, with average daily volumes sold at approximately 978,000 gallons per day.
- Completed termination of 8 remaining 2020 cargos for $105 million, resulting in a one-time charge.
- Converted all Class B shares to Class A shares to enhance liquidity and improve credit profile.
Headline financials
Revenue & EPS history
New Fortress Energy · Revenue · Quarterly
$94.6M
Revenue by segment
New Fortress Energy · $250M total across 2 segments · Q3 2023
- Terminals & Infra$195M-22.6%78.0%
- Ships$54.9M-37.5%22.0%
Forward guidance
New Fortress Energy anticipates increased volumes and continued focus on key markets.
Tailwinds
- Gallons per day volumes are expected to be between 1,700,000 and 2,000,000 on average for the remainder of 2020
- The company expects to take advantage of historically low prices of LNG on the open market.
- Conversion to a C Corporation will make NFE shares eligible to be included in benchmark stock indices.
- The company is progressing with financing and capital plan, targeting savings of $25mm per year through refinancing
- Once refinancing is complete, the company aims to return capital to shareholders by considering a quarterly dividend.
Headwinds
- Construction or commissioning schedules may take longer than expected.
- Volumes sold may be less than expected due to decreased customer demand or supply issues.
- Expectations about LNG purchase price, sales price, production cost, and margin may not align.
- Conversion from LLC to C Corporation may not be effective on the expected timeline or result in stock index inclusion.
- The downstream committed projects costs could be greater than expected.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2020
-0.5%
Avg return
Earnings day
+0.7%
Avg return
5 days after
-0.3%
Avg return
30 days after
52%
15 / 29 earnings
Positive
+25.3%
Q4 2020
Best reaction
-63.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.4% | -8.4% | -27.9% | |
| Q4 2025 | +1.9% | -9.0% | -15.6% | |
| Q3 2025 | -4.3% | -17.1% | +12.1% | |
| Q1 2025 | -63.3% | -54.9% | -59.6% | |
| Q4 2024 | -9.6% | -1.3% | -14.3% | |
| Q3 2024 | -5.7% | -2.1% | +29.4% | |
| Q2 2024 | -17.1% | -18.0% | -35.0% | |
| Q1 2024 | +5.2% | +3.7% | -10.9% | |
| Q4 2023 | +8.7% | +5.7% | -3.4% | |
| Q3 2023 | +21.9% | +22.7% | +37.0% | |
| Q2 2023 | +5.4% | +2.5% | +10.9% | |
| Q1 2023 | +11.0% | +9.2% | +5.0% | |
| Q4 2022 | -13.9% | -6.7% | -26.7% | |
| Q3 2022 | -15.9% | -13.8% | -22.6% | |
| Q2 2022 | -1.7% | +5.4% | +11.1% | |
| Q1 2022 | +8.4% | -2.9% | +17.4% | |
| Q4 2021 | +24.7% | +34.1% | +52.9% | |
| Q3 2021 | -4.3% | -5.5% | -21.6% | |
| Q2 2021 | +1.3% | -0.9% | -1.5% | |
| Q1 2021 | -3.2% | -8.5% | -2.5% | |
| Q4 2020 | +25.3% | +20.4% | +9.3% | |
| Q3 2020 | -18.9% | -18.3% | +3.3% | |
| Q2 2020 | +8.1% | +15.0% | +33.5% | |
| Q1 2020 | +4.7% | +8.5% | +11.8% | |
| Q4 2019 | +7.3% | +6.5% | -37.7% | |
| Q3 2019 | -4.1% | -6.8% | -2.3% | |
| Q2 2019 | +14.4% | +27.7% | +29.0% | |
| Q1 2019 | -0.1% | +14.8% | -10.2% | |
| Q4 2018 | -3.5% | +18.6% | +22.0% | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — |
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