New Fortress Energy Announces Second Quarter 2021 Results and Reaffirms Dividend of $0.10 per Class A Common Share

Rhea-AI Summary

New Fortress Energy (NASDAQ: NFE) reported second-quarter results for the period ending June 30, 2021, highlighting significant growth in Brazil with eight new sales agreements totaling 5.8 million gallons per day (GPD). The company secured a $75 million credit facility to enhance cash management and reported record revenues of $223.8 million, up $78.1 million from the previous quarter. A dividend of $0.10 per share is set for payment on September 17, 2021. Despite a net loss of $1.7 million for the quarter, operational advancements are on track for multiple projects across the region.

Positive

• Record revenue of $223.8 million, an increase of $78.1 million from Q1 2021.
• Secured eight new sales agreements in Brazil, totaling 5.8 million GPD.
• Dividend of $0.10 per share approved, with a record date of September 7, 2021.

Negative

• Net loss of $1.7 million in the second quarter.
• -

New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today reported its financial results for the second quarter ending June 30, 2021.

Second Quarter Highlights

Commercial update

• Tremendous commercial headway in the Brazil market - Signed eight new sales agreements for 5.8mm Committed⁽¹⁾ gallons per day (“GPD”) contributing to illustrative Total Segment Operating Margin goal⁽²⁾ of $1.1Bn
  • Norsk Hydro – Signed memorandum of understanding (“MOU”) and negotiating for up to 1.0mm GPD Run Rate⁽³⁾ long-term gas supply agreement for Alunorte refinery, co-located with our Barcarena Terminal
  • Executed a Gas Sales Agreement with Industrial Customer in NE Brazil – up to 1.4mm GPD Run Rate⁽³⁾ to be supplied from our Suape terminal
  • Three small-scale LNG sales agreements signed totaling over 200k GPD at Barcarena and Santa Catarina
• Secured LNG supply for approximately 100% of our expected needs for our terminals and assets across the Caribbean, Mexico and Central America through 2027 at a price indexed to Henry Hub
• Significant volume growth – over 5.8 million Committed⁽¹⁾ GPD with over 12 million of In Discussion⁽⁴⁾ GPD
• Signed five new direct sales customer agreements with an estimated 50k new GPD of Committed⁽¹⁾ Volumes

Development update

• Began commercial operations at the Port of Pichilingue in Baja California Sur, Mexico, expect to be fully Operational⁽⁵⁾ in 60 days
• Nicaragua project is nearing completion and is expected to be Operational⁽⁵⁾ in Q3 2021
• Our development projects in Barcarena, Suape and Santa Catarina are advancing on schedule and expected to be Operational⁽⁵⁾ in Q1 2022
  • Barcerena and Santa Catarina – Signed EPC contracts, obtained all permits and commenced construction
  • Suape – LNTP to power plant EPC contractor issued
• NFE continues to make great progress on our Fast LNG asset which will help provide us with stable supply at rates well below the open market
  • Actively engaging with gas suppliers around the globe to source long-term, fixed price feedstock
  • Three world class jack up rigs purchased and transported to the Kiewit shipyard
  • Maintaining the development timeline to commence operations in Q4 2022

Financing Update

• NFE closed on a $75mm letter of credit facility that allows us to both release restricted cash and more effectively use cash on hand
• We received approximately $100mm of proceeds on our first asset sale transaction
• We launched a ship financing facility at pricing of LIBOR + 300bps; we have $300mm of funding committed and expect to close in Q3 2021
• Our Board of Directors approved a dividend of $0.10 per share, with a record date of September 7, 2021 and a payment date of September 17, 2021

Financial Highlights

Total Segment Operating Margin⁽⁶⁾ of $130mm, including contribution of ~$54mm from our Terminals and Infrastructure segment and ~$76mm from our Ships segment, resulting from incremental revenue from our Ships segment and the Sergipe Power Plant

	For the Three Months Ended,
	March 31,				June 30,
(in millions, except Average Volumes)	2021				2021
Revenues	$145.7				$223.8
Net Loss	($39.5)				($1.7)
Infrastructure and Terminals Operating Margin	$32.8				$55.4
Ships Operating Margin	$ -				$75.6
Total Segment Operating Margin	$32.8				$130.0
Average Volumes (k GPD)	1,440				1,496

• Record quarterly revenue of $223.8 million, increasing $78.1 million since the first quarter
• Terminals and Infrastructure Segment Operating Margin ⁽⁶⁾ increased from the contribution of our effective share of revenue and costs of the Sergipe Power Plant
• Ships Segment Operating Margin⁽⁶⁾ includes additional contribution from FSRUs and LNG carriers that are leased to customers under long-term or spot arrangements as well as our effective share of the revenue and costs of the Hilli subsequent to completion of the Hygo and GMLP acquisitions
• Average daily volumes sold in Q2 2021 were approximately 1,496k GPD

Please refer to our Q2 2021 Investor Presentation (the “Presentation”) for further information about the following terms:

1) “Committed” means our expected volumes to be sold to customers under binding contracts, awards under requests for proposals. Some, but not all, of our contracts contain minimum volume commitments, and our expected volumes to be sold to customers reflected in our “Committed Volumes” are substantially in excess of such minimum volume commitments. Our near-term ability to sell these volumes is dependent on our customers’ continued willingness and ability to continue purchasing these volumes and to perform their obligations under their respective contracts. If any of our customers fails to continue to make such purchases or fails to perform its obligations under its contract, our operating results, cash flow and liquidity could be materially and adversely affected. References to Committed Volumes in the future and percentages of these volumes in the future should not be viewed as guidance or management’s view of the Company’s projected earnings, is not based on the Company’s historical operating results, which are limited, and does not purport to be an actual representation of our future economics.
2) “Illustrative Total Segment Operating Margin Goal” means our goal for Total Segment Operating Margin under certain illustrative conditions. This goal reflects the volumes of LNG that it is our goal to sell under binding contracts multiplied by the average price per unit at which we expect to price LNG deliveries, including both fuel sales and capacity charges or other fixed fees, less the cost per unit at which we expect to purchase or produce and deliver such LNG or natural gas, including the cost to (i) purchase natural gas, liquefy it, and transport it to one of our terminals or purchase LNG in strip cargos or on the spot market, (ii) transfer the LNG into an appropriate ship and transport it to our terminals or facilities, (iii) deliver the LNG, regasify it to natural gas and deliver it to our customers or our power plants and (iv) maintain and operate our terminals, facilities and power plants. For Vessels chartered to third parties, this illustration reflects the revenue from ships chartered to third parties, capacity and tolling arrangements, and other fixed fees, less the cost to operate and maintain each ship, in each case based on contracted amounts for ship charters, capacity and tolling fees, and industry standard costs for operation and maintenance. There can be no assurance that the costs of purchasing or producing LNG, transporting the LNG and maintaining and operating our terminals and facilities will result in the Illustrative Total Segment Operating Margin Goal reflected.
3) “Run Rate” is the date on which management currently estimates the initial ramp-up of operations on a particular facility will be over, and full commercial operations will be running at a sustainable level. Volumes of LNG and natural gas that we are able to deliver and sell through a particular facility may keep increasing after the Run Rate date due to additional large or small scale customers being added for service by any particular facility, so the Run Rate does not represent the date on which management expects the relevant facility to be operating at its Capacity Volume. Capacity Volume operations of such projects will occur later than, and may occur substantially later than, Run Rate. We cannot assure you if or when such projects will reach the date Run Rate or full Capacity Volume. Actual results could differ materially from the illustration and there can be no assurance we will achieve our goal.
4) “In Discussion” refers to potential customers (i) with whom we are in active negotiations, (ii) for whom there is a request for proposals or competitive bid process, or (iii) for whom we anticipate a request for proposals or competitive bid process will soon be announced based on our discussions with the potential customer as of date of the Presentation. We cannot assure you if or when we will enter into contracts for sales of additional volumes, the price at which we will be able to sell such volumes, or our costs to purchase, liquefy, deliver and sell such volumes. Some, but not all, of our contracts contain minimum volume commitments, and our expected sales to customers reflected in any volumes referenced is substantially in excess of potential minimum volume commitments. References to these volumes and percentages of these volumes should not be viewed as guidance or management’s view of the Company’s projected earnings, is not based on the Company’s historical operating results, which are limited, and does not purport to be an actual representation of our future economics.
5) “Operational” with respect to a particular project means we expect gas to be made available within thirty (30) days, gas has been made available to the relevant project, or that the relevant project is in full commercial operations. Where gas is going to be made available or has been made available but full commercial operations have not yet begun, full commercial operations will occur later than, and may occur substantially later than, our reported Operational date. We cannot assure you if or when such projects will reach full commercial operations. Actual results could differ materially from the illustrations reflected in this presentation and there can be no assurance we will achieve our goals.
6) “Total Segment Operating Margin” is the total of our Terminals and Infrastructure Segment Operating Margin and Ships Segment Operating Margin. Terminals and Infrastructure Segment Operating Margin includes our effective share of revenue, expenses and operating margin attributable to our 50% ownership of Centrais Elétricas de Sergipe Participações S.A. (“CELSEPAR”). Ships Segment Operating Margin includes our effective share of revenue, expenses and Operating Margin attributable to our ownership of 50% of the common units of Hilli LLC. Hilli LLC owns Golar Hilli Corporation (“Hilli Corp”), the disponent owner of the Hilli.

Additional Information

For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investors section of New Fortress Energy’s website, www.newfortressenergy.com, and the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which are available on the Company’s website. Nothing on our website is included or incorporated by reference herein.

Earnings Conference Call

Management will host a conference call on Thursday, August 5, 2021 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (866) 953-0778 (from within the U.S.) or (630) 652-5853 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference “NFE Second Quarter 2021 Earnings Call.”

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newfortressenergy.com. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the internet broadcast.

A replay of the conference call will also be available after 11:00 A.M. on Thursday, August 5, 2021 through 11:00 A.M. on Thursday, August 12, 2021 at (855) 859-2056 (from within the U.S.) or (404) 537-3406 (from outside of the U.S.), Passcode: 8769417.

About New Fortress Energy Inc.

New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

Non-GAAP Financial Measure

Operating Margin is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to income/(loss) from operations, net income/(loss), cash flow from operating activities or any other measure of performance or liquidity derived in accordance with GAAP. We believe this non-GAAP financial measure, as we have defined it, provides a supplemental measure of financial performance of our current liquefaction, regasification, power generation and charter operations. This measure excludes items that have little or no significance on day-to-day performance of our current liquefaction, regasification, power generation and charter operations, including our corporate SG&A, transaction and integration costs, contract termination charges and loss on mitigation sales, loss on extinguishment of debt, net, and other expense.

As Operating Margin measures our financial performance based on operational factors that management can impact in the short-term and provides an assessment of controllable expenses, items associated with our capital structure and beyond the control of management in the short-term, such as depreciation and amortization, taxation, and interest expense are excluded. As a result, this supplemental metric affords management the ability to make decisions to facilitate meeting current financial goals as well as to achieve optimal financial performance of our current liquefaction, regasification, power generation and charter operations.

The principal limitation of this non-GAAP measure is that it excludes significant expenses and income that are required by GAAP to be recorded in our financial statements. A reconciliation is provided for the non-GAAP financial measure to our GAAP net income/(loss). Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measure to our GAAP net income/(loss), and not to rely on any single financial measure to evaluate our business.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute “forward-looking statements” including our expected volumes of LNG or production of power in particular jurisdictions; ability to achieve our growth goals; ability to finalize definitive agreements for which we have MOUs or framework agreements; our expectations regarding our organic growth opportunities and the full capacity of our existing infrastructure including run rates; our expected needs for LNG supply in the future; our expected volumes for In Discussion Volumes; expectations regarding certain facilities becoming Operational; our expected ability to supply gas; expectations regarding growth of our facilities; the expectation that we will continue to take advantage of low LNG prices and develop our Fast LNG project for long-term LNG pricing; and ability to maintain our expected development timelines. and the Illustrative Total Segment Operating Margin Goals related to such growth. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that our development, construction or commissioning schedules will take longer than we expect, the risk that the volumes we are able to sell are less than we expect due to decreased customer demand or our inability to supply, the risk that our expectations about the price at which we purchase LNG, the price at which we sell LNG, the cost at which we produce, ship and deliver LNG, and the margin that we receive for the LNG that we sell are not in line with our expectations, the risk that we may not develop our Fast LNG project on the timeline we expect or at all, or that we do not receive the benefits we expect from the Fast LNG project, risks that our operating or other costs will increase and our expected funding of projects may not be possible, the risk that the foregoing or other factors negatively impact our liquidity, the risk that our organic and inorganic growth opportunities do not materialize due to our inability to reach commercial arrangements on terms that are acceptable to us or at all, the risk that organic and inorganic growth opportunities do not offer the Operating Margin that we expect due to higher costs of LNG, higher costs of infrastructure for inorganic growth, competitive pressures on our pricing, or other factors, and the risk that our investment and pilot projects in green hydrogen do not advance NFE’s transition to zero emissions on the timeline we expect or at all. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in the Company’s annual and quarterly reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement.

Exhibits – Financial Statements

Consolidated Statements of Operations and Comprehensive Loss For the three months ended March 31, 2021 and June 30, 2021 (Unaudited, in thousands of U.S. dollars, except share and per share amounts)
				For the Three Months Ended
				March 31, 2021		June 30, 2021
Revenues
Operating revenue				$ 91,196		$ 102,836
Vessel charter revenue				-		64,561
Other revenue				54,488		56,442
	Total revenues			145,684		223,839
Operating expenses
Cost of sales				96,671		101,430
Vessel operating expenses				-		15,400
Operations and maintenance				16,252		18,565
Selling, general and administrative				45,181		44,536
Transaction and integration costs				-		29,152
Depreciation and amortization				9,890		26,997
	Total operating expenses			167,994		236,080
	Operating loss			(22,310)		(12,241)
Interest expense				18,680		31,482
Other (income)				(604)		(7,457)
	Net loss before income from equity method investments and income taxes			(40,386)		(36,266)
Income from equity method investments				-		38,941
Tax (benefit) provision				(877)		4,409
	Net loss			(39,509)		(1,734)
Net loss (income) attributable to non-controlling interest				1,606		(4,310)
	Net loss attributable to stockholders			$ (37,903)		$ (6,044)
Net loss per share – basic and diluted				$ (0.21)		$ (0.03)
Weighted average number of shares outstanding – basic and diluted				176,500,576		202,331,304

Segment Operating Margin
Unaudited, in thousands of U.S. dollars)

Performance of our two segments, Terminals and Infrastructure and Ships, is evaluated based on Segment Operating Margin. Segment Operating Margin aggregates to Operating Margin, which is a non-GAAP measure. We define non-GAAP operating margin as GAAP net loss, adjusted for selling, general and administrative expense, transaction and integration costs, depreciation and amortization, interest expense, other (income) expense, income from equity method investments and tax expense. Operating Margin is mathematically equivalent to Revenue minus Cost of sales minus Operations and maintenance minus Vessel operating expenses, each as reported in our financial statements.

Three Months Ended June 30, 2021
(in thousands of $)	Terminals and Infrastructure ⁽¹⁾	Ships ⁽²⁾	Total Segment	Eliminations ⁽³⁾	Consolidated Reporting
Operating Margin	54,453	75,587	130,040	(41,596)	88,444
Less:
Selling, general and administrative					44,536
Transaction and integration costs					29,152
Depreciation and amortization					26,997
Interest expense					31,482
Other (income), net					(7,457)
Tax provision					4,409
(Income) from equity method investments					(38,941)
Net loss					(1,734)

⁽¹⁾ Terminals and Infrastructure includes the Company's effective share of operating margin attributable to 50% ownership of CELSEPAR. The earnings attributable to the investment of $28,447 are reported in income (loss) from equity method investments on the condensed consolidated statements of operations.

⁽²⁾ Ships includes the Company's effective share of operating margin attributable to 50% ownership of the Hilli Common Units. The earnings attributable to the investment of $10,494 are reported in income (loss) from equity method investments on the condensed consolidated statements of operations and comprehensive loss.

⁽³⁾ Eliminations reverse the inclusion of the effective share of operating margin attributable to 50% ownership of CELSEPAR and Hilli Common Units in our segment measure.

Three Months Ended March 31, 2021
(in thousands of $)	Terminals and Infrastructure	Ships	Total Segment	Eliminations	Consolidated Reporting
Operating Margin	32,761	-	32,761	-	32,761
Less:
Selling, general and administrative					45,181
Transaction and integration costs					-
Depreciation and amortization					9,890
Interest expense					18,680
Other (income), net					(604)
Tax provision					(877)
(Income) from equity method investments					-
Net loss					(39,509)

Condensed Consolidated Balance Sheets As of June 30, 2021 and December 31, 2020 (Unaudited, in thousands of U.S. dollars, except share and per share amounts)
				June 30,		December 31,
				2021		2020
Assets
Current assets
	Cash and cash equivalents			$ 143,138		$ 601,522
	Restricted cash			57,353		12,814
	Receivables, net of allowances of $90 and $98, respectively			121,962		76,544
	Inventory			61,491		22,860
	Prepaid expenses and other current assets, net			92,010		48,270
	Total current assets			475,954		762,010
	Restricted cash			29,827		15,000
	Construction in progress			692,745		234,037
	Property, plant and equipment, net			2,038,738		614,206
	Equity method investments			1,312,072		-
	Right-of-use assets			139,136		141,347
	Intangible assets, net			225,668		46,102
	Finance leases, net			606,108		7,044
	Goodwill			748,602		-
	Deferred tax assets, net			6,221		2,315
	Other non-current assets, net			117,004		86,030
Total assets				$ 6,392,075		$ 1,908,091
Liabilities
Current liabilities
	Current portion of long-term debt			$ 204,551		$ -
	Accounts payable			97,455		21,331
	Accrued liabilities			192,723		90,352
	Current lease liabilities			30,077		35,481
	Due to affiliates			6,060		8,980
	Other current liabilities			104,598		35,006
	Total current liabilities			635,464		191,150
	Long-term debt			3,326,303		1,239,561
	Non-current lease liabilities			89,673		84,323
	Deferred tax liabilities, net			293,073		2,330
	Other long-term liabilities			45,643		15,641
Total liabilities				4,390,156		1,533,005
Commitments and contingencies
Stockholders’ equity
	Class A common stock, $0.01 par value, 750.0 million shares authorized, 206.7 million issued and outstanding as of June 30, 2021; 174.6 million issued and outstanding as of December 31, 2020			2,060		1,746
	Additional paid-in capital			1,932,318		594,534
	Accumulated deficit			(273,450)		(229,503)
	Accumulated other comprehensive income			101,422		182
	Total stockholders' equity attributable to NFE			1,762,350		366,959
	Non-controlling interest			239,569		8,127
	Total stockholders' equity			2,001,919		375,086
		Total liabilities and stockholders' equity		$ 6,392,075		$ 1,908,091

Condensed Consolidated Statements of Operations For the three and six months ended June 30, 2021 and 2020 (Unaudited, in thousands of U.S. dollars, except share and per share amounts)
			Three months ended June 30,					Six months ended June 30,
				2021		2020			2021		2020
Revenues
Operating revenue				$ 102,836		$ 76,177			$ 194,032		$ 139,679
Vessel charter revenue				64,561		-			64,561		-
Other revenue				56,442		18,389			110,930		29,417
Total revenues				223,839		94,566			369,523		169,096
Operating expenses
Cost of sales				101,430		69,899			198,101		138,115
Vessel operating expenses				15,400		-			15,400		-
Operations and maintenance				18,565		9,500			34,816		17,983
Selling, general and administrative				44,536		31,846			78,152		60,216
Transaction and integration costs				29,152		-			40,716		-
Contract termination charges and loss on mitigation sales				-		123,906			-		124,114
Depreciation and amortization				26,997		7,620			36,886		12,874
Total operating expenses				236,080		242,771			404,071		353,302
Operating loss				(12,241)		(148,205)			(34,548)		(184,206)
Interest expense				31,482		17,198			50,162		31,088
Other (income) expense, net				(7,457)		999			(8,058)		1,610
Loss on extinguishment of debt, net				-		-			-		9,557
Net loss before income equity method investments and income taxes				(36,266)		(166,402)			(76,652)		(226,461)
Income from equity method investments				38,941		-			38,941		-
Tax provision				4,409		117			3,532		113
Net loss				(1,734)		(166,519)			(41,243)		(226,574)
Net (income) loss attributable to non-controlling interest				(4,310)		29,094			(2,704)		80,851
Net loss attributable to stockholders				$ (6,044)		$ (137,425)			$ (43,947)		$ (145,723)
Net loss per share – basic and diluted				$ (0.03)		$ (2.40)			$ (0.23)		$ (3.49)
Weighted average number of shares outstanding – basic and diluted				202,331,304		57,341,215			189,885,473		41,771,849

Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2021 and 2020 (Unaudited, in thousands of U.S. dollars)
						Six Months Ended June 30,
							2021		2020
	Cash flows from operating activities
	Net loss						$ (41,243)		$ (226,574)
	Adjustments for:
		Amortization of deferred financing costs and debt guarantees, net					(6,290)		6,965
		Depreciation and amortization					37,462		13,324
		(Earnings) losses of equity method investees					(38,941)		-
		Dividends received from equity method investees					7,386		-
		Sales-type lease payments received in excess of interest income					2,388		-
		Change in market value of derivatives					(7,073)		(294)
		Contract termination charges and loss on mitigation sales					-		124,114
		Loss on extinguishment and financing expenses					-		9,557
		Deferred taxes					2,447		15
		Change in value of Investment of equity securities					(88)		2,217
		Share-based compensation					3,383		4,430
		Other					275		1,201
	Changes in operating assets and liabilities, net of acquisitions:
	(Increase) in receivables						(38,018)		(9,214)
	(Increase) in inventories						(35,458)		(4,794)
	Decrease (Increase) in other assets						3,679		(9,446)
	Decrease in right-of-use assets						2,072		17,781
	Increase in accounts payable/accrued liabilities						24,732		13,655
	(Decrease) in amounts due to affiliates						(2,919)		(3,666)
	Increase (Decrease) in lease liabilities						133		(19,873)
	(Decrease) Increase in other liabilities						(25,279)		279
		Net cash used in operating activities					(111,352)		(80,323)
Cash flows from investing activities
	Capital expenditures						(235,324)		(95,422)
	Cash paid for business combinations, net of cash acquired						(1,586,042)		-
	Entities acquired in asset acquisitions, net of cash acquired						(8,817)		-
	Other investing activities						(750)		78
		Net cash used in investing activities					(1,830,933)		(95,344)
Cash flows from financing activities
	Proceeds from borrowings of debt						1,652,500		832,144
	Payment of deferred financing costs						(20,989)		(13,600)
	Repayment of debt						(15,864)		(506,402)
	Payments related to tax withholdings for share-based compensation						(29,717)		(6,117)
	Payment of dividends						(41,346)		-
		Net cash provided by financing activities					1,544,584		306,025
			Impact of changes in foreign exchange rates on cash and cash equivalents				(1,317)		-
Net (decrease) increase in cash, cash equivalents and restricted cash							(399,018)		130,358
Cash, cash equivalents and restricted cash – beginning of period							629,336		93,035
Cash, cash equivalents and restricted cash – end of period							$ 230,318		$ 223,393
Supplemental disclosure of non-cash investing and financing activities:
Changes in accounts payable and accrued liabilities associated with
	construction in progress and property, plant and equipment additions						$ 85,513		$ (3,084)
Liabilities associated with consideration paid for entities acquired in asset acquisitions							9,959		-
Consideration paid in shares for business combinations							1,400,784		-

 

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FAQ

What was New Fortress Energy's (NFE) revenue for the second quarter of 2021?

NFE reported a record revenue of $223.8 million for Q2 2021.

What is the dividend amount approved by New Fortress Energy (NFE)?

New Fortress Energy approved a dividend of $0.10 per share.

When will New Fortress Energy (NFE) pay its dividend?

The dividend will be paid on September 17, 2021.

What was the net loss reported by New Fortress Energy (NFE) in Q2 2021?

NFE reported a net loss of $1.7 million for the second quarter.

How many gallons per day (GPD) of new sales agreements did NFE secure in Brazil?

NFE secured eight new sales agreements totaling 5.8 million GPD in Brazil.