Excelerate Energy Inc. · Q4 2023 earnings

Briefing

Reported strong full year results and announced a new share repurchase program.

Excelerate Energy reported strong financial results for the full year and fourth quarter ended December 31, 2023. The company reported a net income of $20.0 million for the fourth quarter and authorized up to $50 million of Class A common stock repurchases through February 2026.

• Reported Net Income of $20.0 million for the fourth quarter.
• Reported Adjusted EBITDA of $71.4 million for the fourth quarter.
• Secured supply for previously announced Petrobangla SPA by executing a long-term contract to purchase 0.85 to 1.0 MTPA of LNG from QatarEnergy on a delivered ex-ship basis in Bangladesh for 15 years, beginning January 2026.
• Authorized up to $50 million of Class A common stock repurchases through February 2026.

Headline financials

Revenue & EPS history

Full year 2024 Adjusted EBITDA expected to range between $315 million and $335 million. Committed Growth Capex is expected to range between $70 million and $80 million. Maintenance Capex expected to range between $50 million and $60 million.