NewFortress Energy 2Q23 Results
Achieved strong earnings for 1H 2023
Executive Summary
Quarterly financial results & Guidance (1)
Adj. EBITDA (2) 1H 2022
Q1 2022
Q2 2022
Total
Segment
Revenue
Adj. EBITDA
Net Income
$258mm
$283mm
$541mm
Guidance (1) of ~$1.6bn in 2023(6) & ~$2.4bn 2024(6)
2021
2022
Adj. EBITDA (2) 1H 2023
Q1 2023
Q2 2023
Total
$93(4)
$1,696(3) $2,613(3) ~$3,100(5)
$185(4)
Guidance (1)
2023E
$605(2) $1,071(2) ~$1,600(6)
$440mm
$246mm
$686mm
~$800(7)
2024E
~$4.8bn(5)
~$2.4bn(6)
~$1.5bn(7)
1H23 Adj. EBITDA(²) is
$145mm higher than 1H22
Q2 2023 earnings down from
Q1 primarily due to lower
cargo sales
$3.2bn of infrastructure (8)
converting from construction
to revenue in 2H23
Guidance (1) of $1.6bn for FY2023(6)
& $2.4bn for FY2024(6)
Reducing FY2023 Guidance(1) primarily due
to construction completion schedule(11)
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