Excelerate Energy, Inc. - EE STOCK NEWS

Excelerate Energy (NYSE: EE) reported a net loss of $4.0 million for Q2 2022, reflecting a one-time charge of $21.8 million due to IPO-related FSRU acquisition. Adjusted net income was $20.4 million, with revenues reaching $622.9 million. The company commenced regasification services at Bahia Blanca GasPort and expanded its Vlora Terminal project through an MOU with Bulgaria’s Overgas. They also advanced negotiations for LNG projects in Bangladesh. An inaugural dividend of $0.025 per share was declared, with adjusted EBITDA expected between $249 million and $269 million for 2022.

Excelerate Energy announced its inaugural quarterly cash dividend of $0.025 per share for the quarter ending June 30, 2022. This dividend will be paid on September 7, 2022 to shareholders on record as of August 19, 2022. The announcement reflects the company's strong balance sheet and commitment to returning capital to shareholders. The operating subsidiary will also distribute $0.025 per interest to Class B limited partnership holders. Future dividends will be determined by the Board.

Excelerate Energy, Inc. (NYSE: EE) will release its second quarter 2022 results on August 10, 2022, after the U.S. market close. A conference call with management will follow on August 11, 2022, at 8:30 a.m. ET. Both the earnings release and the conference call will be accessible via the Company's website. Excelerate Energy specializes in LNG solutions, offering regasification services and infrastructure development while aiming for rapid market delivery of clean energy. For further details, visit www.excelerateenergy.com.

Excelerate Energy and Overgas signed a Memorandum of Understanding on July 14, 2022, in Sofia, Bulgaria, focusing on the sale of up to 1 billion cubic meters of regasified LNG per year for ten years from Excelerate's Vlora LNG terminal in Albania. This agreement aims to enhance energy security in Bulgaria and neighboring regions. The MOU represents a strategic expansion for Excelerate’s Vlora Terminal project, addressing the urgent energy needs within Europe’s Southern Gas Corridor. Both companies express optimism about future collaborations to improve supply diversity.

Excelerate Energy has expanded its Board of Directors from six to seven members by appointing Deborah Byers as an independent director, effective July 5, 2022. Ms. Byers, a retired Partner from Ernst & Young with 36 years of experience in public accounting, will also serve as Chairperson of the Audit Committee. The Board's decision aims to enhance corporate governance and leverage Ms. Byers' extensive knowledge in the energy sector to support the company's global growth strategy.

Excelerate Energy (NYSE:EE) announced a $30,000 donation to The Woodlands Family YMCA, continuing its support since 2007. This contribution will aid the YMCA's Mobile Makerspace initiative, a mobile tech lab for children in Montgomery County, Texas, focusing on skills like coding and robotics. Excelerate's commitment aligns with its corporate social responsibility goals in health, education, and climate. The company emphasizes community empowerment and plans to participate in various YMCA outreach programs.

Excelerate Energy, Inc. (NYSE: EE) announced participation at the J.P. Morgan 2022 Energy, Power & Renewables Conference in New York City from June 22-23, 2022. President and CEO Steven Kobos and CFO Dana Armstrong will attend the event, conducting one-on-one meetings with investors. Founded in 2003 and based in The Woodlands, Texas, Excelerate Energy specializes in providing integrated LNG services, offering flexible regasification and infrastructure development. The company aims to deliver reliable LNG solutions globally.

Excelerate Energy reported a net income of $12.8 million and adjusted EBITDAR of $71.4 million for Q1 2022, reflecting solid performance despite challenges in the European energy market. The company advanced various projects including the Payra LNG project in Bangladesh and secured gas sales at its terminals in Brazil and Argentina. Liquidity improved with $82.9 million in cash as of March 31, while a new $350 million credit facility enhances its financial strength. The full-year outlook for adjusted EBITDA is projected between $249 million and $269 million.

Excelerate Energy (NYSE: EE) has signed a ten-year contract with Gasgrid Finland to charter a floating storage and regasification unit (FSRU) for supplying liquefied natural gas (LNG) to Finland, Estonia, and the broader Baltic Sea region. The FSRU ‘Exemplar’ has a capacity of 150,900 m³ and can provide over 5 billion cubic meters of regasification annually. This initiative supports European energy security and aims to diversify LNG supplies, aligning with climate objectives.