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…
Earnings analysis · 10-Q
NFE earnings analysis
Filed May 14, 2026 · Our reading of the company's report
The latest report
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…
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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.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-2.81
What stood out
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Revenue Exceeds Expectations
Reported revenue reached $404 million, outperforming estimates of $280 million.
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Dramatic EPS Decline
Reported EPS was -$2.81, significantly lower than the estimated -$0.94.
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Implementation of Restructuring Efforts
Management is pursuing a Restructuring Support Agreement to stabilize finances and decrease existing debt.
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Operating Margin Recovery Needed
Operating margin decreased significantly to -200.5% compared to prior periods.
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Cash Used in Operations
Operating cash flow declined, consuming $118.9 million, up from $7.2 million year over year.
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Segment Revenue Trends
The Terminals and Infrastructure segment reported $219.7 million in revenues, sharply down from $379.1 million in the previous quarter.
What to watch
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Severe Cash Flow Issues
Operating cash flows saw a significant usage of $118.9 million, escalating liquidity concerns.
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Debt Default Risk
Default on multiple debt agreements raises potential for accelerated debt repayment under multiple instruments.
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Regulatory and Compliance Risks
Increased regulatory scrutiny and potential sanctions related to operations could affect financial stability.
Management's outlook
Guidance on revenue and EPS deferred pending further clarity post-restructuring.
Earlier filings 4
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 itself. Analysis can contain errors; check the source document for full context.