NFE earnings analysis
What we found in NFE's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
New Fortress Energy's latest 10-Q reveals a substantial decline in margins and earnings, amplified by significant restructuring efforts. Revenue surged to $404 million, substantially exceeding prior estimates, yet EPS fell to -$2.81, highlighting ongoing challenges post-restructuring. The company is restructuring to optimize finances but faces severe cash flow issues and risks related to market volatility and compliance with new regulations.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Exceeds Expectations
- Reported revenue reached $404 million, outperforming estimates of $280 million.
- Dramatic EPS Decline
- Reported EPS was -$2.81, significantly lower than the estimated -$0.94.
- Implementation of Restructuring Efforts
- Management is pursuing a Restructuring Support Agreement to stabilize finances and decrease existing debt.
- Operating Margin Recovery Needed
- Operating margin decreased significantly to -200.5% compared to prior periods.
- Cash Used in Operations
- Operating cash flow declined, consuming $118.9 million, up from $7.2 million year over year.
- Segment Revenue Trends
- The Terminals and Infrastructure segment reported $219.7 million in revenues, sharply down from $379.1 million in the previous quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Severe Cash Flow Issues
- Operating cash flows saw a significant usage of $118.9 million, escalating liquidity concerns.
- Debt Default Risk
- Default on multiple debt agreements raises potential for accelerated debt repayment under multiple instruments.
- Regulatory and Compliance Risks
- Increased regulatory scrutiny and potential sanctions related to operations could affect financial stability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-2.81
- Gross margin
- 48.0%
- Operating margin
- -200.5%
- Segment
- Terminals and Infrastructure: $219.7M
- Segment
- Ships: $7.3M
What they said about what is next.
Guidance on revenue and EPS deferred pending further clarity post-restructuring.
The filing reads worse than the one before it.
What came before.
- 10-K · April 30, 2026
- New Fortress Energy reported a Q4 revenue of $404 million, significantly exceeding estimates of $280 million, albeit with a substantial earnings per share miss at -$2.81 compared to the expectation of -$0.94. Key…
- 10-K · April 13, 2026
- The 10-K discloses that New Fortress Energy entered a formal Restructuring Support Agreement on March 17, 2026 to address missed interest and principal payments and significant liquidity stress; the RSA covers a…
- 10-Q · September 5, 2025
- New Fortress Energy reported Q2 revenue of $301,692,000 and a GAAP diluted loss per share of $2.02, a sharp deterioration vs prior quarter and prior year. The quarter included large non‑cash and one‑time charges…
- 10-Q · May 6, 2022
- New Fortress Energy reported Q1 revenue of $505,118,000 (vs. $145,684,000 in Q1 2021) and diluted EPS of $1.13 (vs. $(0.21) in Q1 2021), driven by contributions from the Hygo and GMLP acquisitions. Operating income was…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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