Latest news with #NewFortress
Business Wire
27-05-2025
- Business
- Business Wire
Securities Fraud Investigation Into New Fortress Energy Inc. (NFE) Announced – Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of New Fortress Energy Inc. ('New Fortress' or the 'Company') (NASDAQ: NFE) investors concerning the Company's possible violations of the federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON NEW FORTRESS ENERGY INC. (NFE), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. What Happened? On May 14, 2025, New Fortress released its first quarter 2025 financial results, reporting revenue of $470.5 million, missing consensus estimates. The same day, Reuters published an article stating that New Fortress's 'financial woes stem from its inability to secure [liquefied natural gas] for its power-generation assets in Latin America on long-term agreements because its credit was not rated investment-grade and had to acquire the gas at higher prices.' On this news, New Fortress's stock price fell $4.27, or 63%, to close at $2.51 per share on May 15, 2025, thereby injuring investors. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us. Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@ Telephone: 310-201-9150 (Toll-Free: 888-773-9224) Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. Whistleblower Notice Persons with non-public information regarding New Fortress should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@ About Glancy Prongay & Murray LLP Glancy Prongay & Murray LLP ('GPM') is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. GPM has been consistently ranked in the Top 50 Securities Class Action Settlements by ISS Securities Class Action Services. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM's nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM's lawyers have handled cases covering a wide spectrum of corporate misconduct and relating to nearly all industries and sectors. GPM's past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Yahoo
22-05-2025
- Business
- Yahoo
New Fortress Energy (NFE) Plunged by Over 50% This Week. Here is Why.
The share price of New Fortress Energy Inc. (NASDAQ:NFE) fell by 56.6% between May 13 and May 20, 2025, putting it among the . Let's shed some light on the development. A cutaway view of a modern energy infrastructure and its power generation facilities. New Fortress Energy Inc. (NASDAQ:NFE) owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. New Fortress Energy Inc. (NASDAQ:NFE) plunged to a multi-year low this week after a wide earnings miss, struggling with weak performance across all its segments. The company's loss of $0.73 per share was significantly worse than the loss of $0.05 per share that analysts had expected, while its revenue also declined by 31.84% YoY to $470.54 million and missed estimates by almost $144 million. New Fortress has been unable to buy LNG at attractive rates to fuel its power-generating operations in Latin America, hurting profits badly and forcing the company to sell off assets to try to remain afloat. The energy firm revealed that it had long-term debt worth $8.9 billion at the end of the first quarter. Moreover, in another setback for New Fortress Energy Inc. (NASDAQ:NFE), it was revealed this week that the company has been disqualified from an auction held by the Puerto Rican government to secure temporary power generation. While we acknowledge the potential of NFE to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NFE but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
18-05-2025
- Business
- Business Upturn
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of New Fortress Energy Inc.
NEW YORK, May 18, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of New Fortress Energy Inc. ('New Fortress' or the 'Company') (NASDAQ: NFE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether New Fortress and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On May 14, 2025, New Fortress issued a press release reporting its financial results for the first quarter of 2025. New Fortress disclosed weak performance across its business segments. Among other items, New Fortress reported total revenue of $470.5 million, compared to $690.3 million for the same period in 2024, as well as a net loss of $197.4 million, or $0.73 per share, compared to net income of $56.7 million, or $0.26 per share for the same period in 2024. On this news, New Fortress's stock price fell $4.27 per share, or 62.98%, to close at $4.27 per share on May 15, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle PeytonPomerantz LLP [email protected] 646-581-9980 ext. 7980
Yahoo
16-05-2025
- Business
- Yahoo
Why New Fortress Energy Stock Crashed After Earnings
New Fortress Energy was supposed to lose money last quarter, but it lost a lot more than analysts expected. The LNG company is selling assets to stay afloat. Problem is, it has a boatload of debt that probably isn't sustainable. 10 stocks we like better than New Fortress Energy › Liquefied natural gas (LNG) stock New Fortress Energy (NASDAQ: NFE) imploded in morning trading Thursday after reporting staggering losses and a big asset sale. Expected to lose $0.05 per share, New Fortress instead reported last night that it lost $0.73 per share in Q1 2025. Shares plunged 62.6% through 10:35 a.m. ET. New Fortress noted, "We have a number of notable one time events such as the FEMA claim, FSRU sub charters, and the Genera incentive payment that we expect will boost remaining earnings through 2025." But for the time being, things look pretty grim. The company has had trouble buying LNG at attractive rates, to fuel its power-generating operations in Latin America, hurting profits badly, and forcing the company to sell off assets to try to remain afloat. Last night, New Fortress said it has sold its Jamaican LNG import terminal in Montego Bay, offshore floating storage and other assets to Excelerate Energy (NYSE: EE) for a little over $1 billion. The company plans to use the proceeds from this sale to pay down about $325 million in debt. Problem is, New Fortress has a lot more debt where that came from. In total, the company carries $9 billion in debt, net of cash on hand. Although occasionally profitable as calculated according to generally accepted accounting principles (GAAP), New Fortress has never generated a penny of actual free cash flow, and at last report was burning cash at the rate of $3.2 billion per year. $1 billion in asset sales will hardly make a dent in that, meaning New Fortress will probably go deeper and deeper into debt. If you still own it, I fear it's probably time to sell. Before you buy stock in New Fortress Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and New Fortress Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $620,719!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $829,511!* Now, it's worth noting Stock Advisor's total average return is 962% — a market-crushing outperformance compared to 170% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends Excelerate Energy. The Motley Fool has a disclosure policy. Why New Fortress Energy Stock Crashed After Earnings was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
27-03-2025
- Business
- Reuters
Excelerate Energy nears $1 billion deal for New Fortress' Jamaica unit, sources say
March 27 (Reuters) - Liquefied natural gas infrastructure provider Excelerate Energy (EE.N), opens new tab is nearing a deal to acquire the Jamaica business of smaller rival New Fortress Energy (NFE.O), opens new tab for about $1.1 billion, according to people familiar with the matter. If the talks are successful, the deal could be announced as early as Thursday, said the sources, who requested anonymity to discuss private deliberations. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. The all-cash deal is expected to boost Excelerate's existing global footprint, with its LNG infrastructure currently deployed in countries including Bangladesh, Brazil, Finland and Pakistan. The transaction is also expected to help New Fortress address financial issues that forced it to consider offloading some of its premium assets. Excelerate and New Fortress could not be immediately reached for comment. Both Excelerate and New Fortress provide floating LNG import terminals, which allow countries to import natural gas without having to build large-scale facilities, which can cost tens of billions of dollars and take years to construct. New Fortress' Jamaica business consists of the Montego Bay onshore terminal, the Old Harbour floating terminal, and the Clarendon combined heat and power plant that supplies 65% of the island's electricity, according to a November earnings presentation. The company said earlier in March it hoped to raise about $2 billion from asset sales including its businesses in Jamaica and Brazil, adding that the proceeds would be used to reduce its debt pile, which stood at $8.4 billion at the end of 2024. In October, New Fortress started exploring options, including bringing in strategic partners or potential asset sales, after the company was forced to defer shareholder dividend payments while it held talks with bondholders to address near-term debt maturities. In November, it announced the close of a series of financing transactions, including the exchange of existing bonds for longer-dated notes and the issue of new equity, to ease its near-term cash crunch.
