Welcome to our dedicated page for New Fortress Energy news (Ticker: NFE), a resource for investors and traders seeking the latest updates and insights on New Fortress Energy stock.
New Fortress Energy Inc. (NFE) is a global leader in providing clean, reliable, and affordable natural gas solutions. Established in 2015, the company has pioneered the development and supply of natural gas through end-to-end logistics and infrastructure solutions tailored for power producers, transportation companies, and industrial users worldwide.
NFE's operations began with the construction of the first LNG liquefaction plant in Florida, located in Miami. This facility features comprehensive rail and truck operations, along with on-dock rail access at Port of Miami and Port Everglades. The plant caters to various industries including aerospace, marine, transportation, and power, and is poised to lead the transition from oil to natural gas over the next decade.
One of NFE's significant accomplishments includes receiving approval to export natural gas to non-FTA countries and successfully exporting the first LNG shipment from the U.S. lower-48 states. This milestone underscores the company's capability and commitment to expanding global access to natural gas.
The company's business model is integrated, covering the entire production and delivery chain from natural gas procurement and liquefaction to logistics, shipping, terminals, and the development or conversion of natural gas-fired generation. NFE has invested in floating, liquefied natural gas vessels to reduce costs and secure a long-term gas supply for its terminals.
NFE operates through two primary segments: Terminals and Infrastructure (T&I) and Ships. These segments exemplify the company's strategic approach to managing the logistics and infrastructure essential for efficient natural gas distribution. By leveraging its extensive network and innovative solutions, NFE continues to foster partnerships and advance projects that enhance energy accessibility and sustainability.
Recent news and updates about NFE highlight its ongoing initiatives and developments in the energy sector. Stay informed on the latest performance, events, and advancements of New Fortress Energy Inc., a company dedicated to transforming the energy landscape through cleaner and more affordable natural gas solutions.
New Fortress Energy Inc. (NASDAQ: NFE) announced that S&P Global Ratings has upgraded its issuer credit rating to ‘BB-’ with a Stable Outlook from ‘B+’. This upgrade reflects NFE's increasing cash flow due to its expansion from 3 terminals serving 37 customers to 11 terminals serving over 100 customers across various markets, including Brazil, Mexico, and Nicaragua. The company aims for significant organic growth through new terminal developments and long-term gas contracts to enhance its operational performance and customer support in transitioning to cleaner energy.
New Fortress Energy reported strong financial results for Q3 2021, achieving a record Total Segment Operating Margin of approximately $210 million, surpassing its goal of $208 million. The company anticipates a 50% increase to $585 million in the second half of 2021, with $1.1 billion projected for FY 2022 as new energy sources come online. A dividend of $0.10 per share was declared, payable on December 17, 2021. The company is advancing in multiple projects including a 15-year LNG agreement with Norsk Hydro and expects significant revenue from its terminals and infrastructure segments.
New Fortress Energy Inc. (NASDAQ: NFE) announced a cash distribution of $0.546875 per unit for its 8.75% Series A Cumulative Redeemable Preferred Units. This distribution covers the period from August 14, 2021 to November 12, 2021 and will be payable on November 15, 2021. Record holders as of November 8, 2021 will receive this payment. The company continues to focus on enhancing the transition to clean energy through its natural gas infrastructure and logistics.
New Fortress Energy Inc. (NASDAQ: NFE) will announce its Q3 2021 financial results on November 3, 2021, before 8:00 A.M. Eastern Time. The press release, along with an earnings supplement, will be available on the company's website. A conference call will follow at 8:00 A.M. ET, accessible by phone and via a webcast. A replay of the call will be available until November 10, 2021. New Fortress Energy focuses on clean energy transition through natural gas infrastructure and logistics.
New Fortress Energy Inc. (NASDAQ: NFE) will host an investor update conference call on October 7, 2021, at 9:00am Eastern Time. Interested parties can participate by dialing (866) 953-0778 for U.S. callers or (630) 652-5853 for international callers.
A Form 8-K will be filed, and a live webcast will be available on the company’s website. A replay of the call will be accessible from 12:00pm on October 7, 2021, through 12:00pm on October 14, 2021.
New Fortress Energy (NASDAQ: NFE) announced a secured term loan facility backed by eight vessels, allowing an initial borrowing of
New Fortress Energy (NASDAQ: NFE) and the Government of Sri Lanka have signed a definitive agreement for NFE's investment in West Coast Power Limited, which owns the 310 MW Yugadanavi Power Plant in Colombo. NFE will acquire a 40% stake in WCP and develop an offshore LNG terminal. The company plans to supply an estimated 1.2 million gallons of LNG per day. The power plant has a long-term agreement to supply electricity to the national grid until 2035, supporting Sri Lanka's transition to cleaner energy and enhancing economic growth.
New Fortress Energy (NFE) has signed a 15-year agreement to supply natural gas to Norsk Hydro ASA's Alunorte Alumina Refinery in Pará, Brazil. This partnership will transition the refinery's fuel source from oil to natural gas, aligning with Hydro's goal to reduce greenhouse gas emissions by 30% by 2030, cutting annual CO2 emissions by 600,000 tonnes. NFE plans to provide 29.5 TBtu of natural gas annually, starting from its Barcarena terminal, expected to be operational in early Q1 2022. The refinery's conversion is targeted for Q1 2023.
New Fortress Energy (NASDAQ: NFE) has signed two Gas Supply Agreements with Unigel Participações, aimed at supplying up to 41 Tbtu of natural gas annually to their fertilizer plants in Brazil for a five-year term starting Q1 2022. This partnership is designed to enhance Unigel’s competitiveness by providing a reliable energy source, while also leveraging NFE’s LNG import terminals. The deal is contingent upon regulatory approvals. Unigel's plants can produce over 3,000 tons of urea daily, reflecting a significant industrial capacity in Brazil.
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.
FAQ
What is the current stock price of New Fortress Energy (NFE)?
What is the market cap of New Fortress Energy (NFE)?
What does New Fortress Energy Inc. do?
Where is NFE's first LNG liquefaction plant located?
What industries does New Fortress Energy serve?
Has NFE received approval to export natural gas?
What are the primary segments of NFE's operations?
How does New Fortress Energy ensure a long-term gas supply?
What is NFE's role in the energy sector?
What makes NFE's Miami plant significant?
What recent achievements has NFE accomplished?
How does NFE contribute to environmental sustainability?
