Welcome to our dedicated page for Excelerate Energy news (Ticker: EE), a resource for investors and traders seeking the latest updates and insights on Excelerate Energy stock.
Excelerate Energy, Inc. (symbol: EE) is a pioneering force in the domain of floating liquefied natural gas (LNG) solutions. Headquartered in The Woodlands, Texas, Excelerate Energy has firmly established itself as a market leader, offering a diverse range of integrated services that span the entire LNG value chain.
With a mission to deliver rapid-to-market and reliable LNG solutions, the company’s offerings include everything from Floating Storage Regasification Units (FSRUs) to comprehensive infrastructure development and LNG supply. These services ensure that clients receive flexible and adaptive solutions tailored to their specific needs.
Excelerate Energy’s global presence underscores its commitment to operational excellence and market reach. The company maintains significant offices in strategic locations including Abu Dhabi, Buenos Aires, Dubai, Rio de Janeiro, and Singapore, positioning it to effectively serve a diverse and global customer base.
Recent achievements highlight Excelerate Energy’s innovative approach and robust financial health. The company has been involved in key projects that enhance the efficiency and capacity of LNG storage and regasification. Partnerships with leading industry players further cement its reputation as a trusted provider in the LNG sector.
Consistent with its growth strategy, Excelerate Energy continues to explore and develop new opportunities in the market. Their projects are designed to meet the increasing global demand for clean energy, and they are committed to delivering solutions that are both economically and environmentally sustainable.
In summary, Excelerate Energy, Inc. stands out as a vital player in the LNG industry, providing innovative, flexible, and integrated solutions with a strong commitment to meeting and exceeding customer expectations.
Excelerate Energy has completed the acquisition of the Sequoia floating storage regasification unit (FSRU) for $265 million from Anemoesa Marine Inc. This strategic purchase was funded through a $250 million term loan from a senior secured credit facility and company cash. The FSRU, delivered in June 2020, has a capacity of 173,400 cubic meters and currently operates at the Bahia Regasification Terminal in Brazil. CEO Steven Kobos emphasized that acquiring the Sequoia at below market value secures its long-term role in Excelerate's fleet, enhancing the company's ability to provide cleaner, reliable energy solutions.
Excelerate Energy, Inc. (NYSE: EE) will release its first quarter 2023 results on May 10, 2023, after U.S. financial markets close. The earnings release and presentation will be available on the Company’s investor page. Following this, a conference call is scheduled for May 11, 2023, at 8:30 a.m. Eastern Time, to discuss the results, with a live webcast accessible online. Excelerate Energy is a U.S.-based LNG company headquartered in The Woodlands, Texas, focusing on providing integrated LNG services and infrastructure development. The Company aims to offer efficient, reliable LNG solutions globally.
Excelerate Energy reported fourth-quarter net income of $33.9 million and full-year net income of $80.0 million for 2022. Adjusted net income was $34.1 million for Q4 and $108.7 million for the year. The company executed a 20-year Sales and Purchase Agreement with Venture Global for 0.7 MTPA of LNG in February 2023 and closed a $600 million credit facility. Notable developments include deploying FSRU Exemplar to Finland and extending the charter for FSRU Explorer by five years. The Board declared a quarterly dividend of $0.025 per share, payable April 27, 2023. Guidance for 2023 Adjusted EBITDA is $320 million to $340 million.
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