Latest news with #WesEdens
Bloomberg
7 days ago
- Business
- Bloomberg
Trump Puts Weight Behind Private High Speed Rail
While President Donald Trump has threatened to block federal funding from California's troubled high-speed rail project, his administration has singled out the privately led Brightline West project for praise. That differing approach has further bolstered the prospects for Brightline, which is expected to break ground soon on its line from Los Angeles to Las Vegas, while the proposed state-run train has faced mounting delays and cost overruns. Brightline West, owned by billionaire Wes Edens' Fortress Investment Group, has also faced its own set of delays, and the company's Florida line has failed to turn a profit. Still, some critics of government spending see it as a model for constructing large-scale transportation infrastructure without excessive amounts of federal subsidies, Brian Kahn and Eliyahu Kamisher report. Today on CityLab:
Telegraph
22-05-2025
- Business
- Telegraph
Dark cloud hanging over Villa if they fail to reach Champions League
Aston Villa are tantalisingly close to securing a Champions League place and, for the second season running, Unai Emery is dismantling the established order of the 'Big Six'. Emery is guaranteed to finish more than 20 points ahead of Manchester United and Tottenham Hotspur in the Premier League table, while countless records are tumbling under his spell. There should be no barrier to Villa's progress under their brilliant Basque manager. But, unfortunately and perhaps unfairly, there is a dark cloud that will hang over them again if they fall short in their pursuit of a top-five finish. The threat of breaching profitability and sustainability rules forced some unwanted decisions last summer, and Villa will have to trade carefully again this summer without Champions League football. Villa's senior management are incredibly frustrated with those rules. They feel the ambition of owners Nassef Sawiris and Wes Edens is limited. Villa's supporters are also tired of PSR, and many feel their club are being targeted for threatening the elite. You cannot blame them. The outcome of Manchester City's 130 charges is yet to be determined. Chelsea can sell two hotels and their women's team, while Manchester United will aim to recover from an abysmal season with another huge spend. It does not feel fair on Villa. Emery is punching away at heavyweight clubs with infinitely larger resources and revenue, but the pressure to comply with PSR is an unwelcome headache for the hierarchy. The drive to continue progressing comes at a cost. Despite estimations that revenue will exceed £300 million this season, it is a challenging balancing act. Earlier this year a financial report revealed that Villa's wages-to-revenue ratio was 96 per cent in the 2023-24 season. With the 10th highest wage bill in Europe last season, they are paying more than Bundesliga champions Bayern Munich. Uefa's squad cost ratio rules will also drop next season, setting the amount clubs can spend of their revenue on player costs at 70 per cent. Securing a second successive year in the Champions League remains possible, and would be a huge positive. And not just for Emery's hopes of attracting even better players. While the Europa League would not be a colossal disappointment – you have to remember that Villa were in the Championship only six years ago – the prize money on offer in the Champions League is multiplied by four. For many clubs, and not just Villa, the date of June 30 will come under sharper focus at the end of the Premier League's financial year. Last summer, Villa's key transfer gurus, Monchi and Damian Vidagany, worked 14-hour days to scramble many deals over the line in order to avoid a points deduction. It was only the £42 million sale of Douglas Luiz to Juventus on deadline day that averted a potential PSR charge. The threat of Villa having to sell at least one big-name player this year before June 30 is very real. Emiliano Martínez was in tears at the end of Villa's final home game against Tottenham and his future remains uncertain. The World Cup winner is on a big salary at 32 years old and any deal would be expensive. Al-Nassr, the Saudi Pro League club who have Cristiano Ronaldo and former Villa striker Jhon Durán, could be a potential destination, but staying in Europe would be Martínez's preference. Villa have sought buyers for Leon Bailey, the £25 million signing from Bayer Leverkusen, over the last two windows and will attempt to offload him again this summer. The most difficult sale would be Jacob Ramsey, a product of the Villa academy who was recently highlighted by England manager Thomas Tuchel. Ramsey has long-standing interest from Tottenham and his sale would represent pure profit for Villa. While his exit would be unpalatable, it would alleviate financial pressure to comply with the rules. Morgan Rogers, the England international, is admired by Chelsea but it is understood that Villa will not consider his sale at any price. Signed for about £15 million from Middlesbrough last year, Rogers is rated at a price nearing £100 million now and is perhaps the best example of how players improve under Emery. There is also a 20 per cent sell-on clause from the deal agreed with Middlesbrough, which will be at the forefront of Villa minds. Villa's incoming signings will also be driven by the rules, and which European competition they qualify for. Marcus Rashford, the Manchester United loanee, will only sign permanently if Villa secure Champions League football. Marco Asensio, the Spain international signed from Paris St-Germain, is a more achievable deal and his transfer fee is not expected to be high. Villa will also aim to retain the core of their squad. Boubacar Kamara, the France international, is in advanced talks over a new contract. Youri Tielemans has been the club's player of the season and is likely to be offered improved terms to reflect his importance to Emery's team. England international Tyrone Mings has just over a year left on his deal and is expected to hold talks with the hierarchy over an extension. Emery is determined to continue Villa's upward trajectory. He has performed another outstanding job this season to reach the Champions League quarter-finals and an FA Cup semi-final. Those European victories over Bayern Munich, RB Leipzig and Celtic, plus the stirring night at home to PSG, will linger long in the memory. Only Tottenham, United and Arsenal have played more games than Villa this season [and Villa only registered 20 players in Europe]. They now have one final shot at glory this weekend, against a United team who will be licking their wounds after the Europa League final defeat. A top-five finish is out of their hands, and they require either a victory or draw, plus either Chelsea or Newcastle to lose. However, if Chelsea lose to Nottingham Forest, and Villa can only draw, Forest will go above them, among many other permutations. With Emery around anything is possible, and last week he said: 'Until the last second, let's keep dreaming together.' At Old Trafford, the dream could become a reality.
Bloomberg
20-05-2025
- Business
- Bloomberg
New Fortress Energy Disqualified From Puerto Rico Power Auction
New Fortress Energy has been disqualified from an auction held by the Puerto Rican government to secure temporary power generation, the latest setback for billionaire Wes Edens' troubled company. The liquefied natural gas and logistics company asked to be reconsidered for the 800-megawatt contract to help shore up the US commonwealth's shaky electric grid, according to a letter it sent to the Puerto Rico governor's office. New Fortress argued that it would be the cheapest power supplier and could provide clean fuel and a fast start-up time, adding that the company already operates turbines on the Caribbean island.
Yahoo
16-05-2025
- Business
- Yahoo
New Fortress completes Jamaica assets sale to Excelerate for $1.05bn
New Fortress Energy has completed the sale of its Jamaican assets and operations to Excelerate Energy for $1.05bn. The assets involved in the deal comprise New Fortress Energy's LNG import terminal in Montego Bay, an offshore floating storage and regasification terminal in Old Harbour, and a 150MW combined heat and power plant in Clarendon. New Fortress and Excelerate Energy signed a definitive agreement for the transaction in March 2025. The transaction aims to bolster Excelerate's position in the region while allowing New Fortress to reduce its corporate debt. Proceeds from the sale will be directed towards reducing New Fortress Energy's revolving credit facility by $270m and to pay off $55m of a Term Loan A facility, with any remaining funds being added to the company's cash reserves on the balance sheet. New Fortress Energy CEO and chairman Wes Edens said: 'The closing of the sale of our Jamaican assets to Excelerate is a significant milestone for the company as we streamline our operations and pay down corporate debt through asset sales. 'NFE has made a positive impact on Jamaica's energy transition, and we are proud of the contributions our world-class employees and assets have made in improving energy costs and reliability on the island. We are confident that Excelerate will continue NFE's vision of providing reliable and cost-effective energy to Jamaica and continue to drive substantial progress towards improving Jamaica's energy future.' To finance the acquisition, Excelerate Energy raised approximately $1bn through equity and debt financings. In the second quarter of 2025, the company completed an equity offering of eight million shares of Class A common stock at $26.5 per share, generating $212m in gross proceeds, including the greenshoe option. Additionally, Excelerate closed an $800m offering of 8% senior unsecured notes due in 2030. Excelerate CEO and president Steven Kobos said: 'The closing of this acquisition represents a significant step forward in the execution of Excelerate's downstream expansion strategy. These assets align seamlessly with our operational expertise and long-term LNG supply agreements, while also presenting promising opportunities for future growth. 'This acquisition enhances our financial outlook through its stable, long-term cash flows with predictable margins. We are confident that integrating this Jamaica platform will generate substantial value for our shareholders while advancing our mission to provide cleaner, more cost-effective natural gas solutions to the people of Jamaica.' Excelerate Energy has also recently entered a memorandum of understanding (MOU) with Petrovietnam Gas. The MOU outlines collaboration between the two companies to secure a stable supply of LNG from the US, potentially commencing as early as 2026. "New Fortress completes Jamaica assets sale to Excelerate for $1.05bn" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Business Wire
14-05-2025
- Business
- Business Wire
New Fortress Energy Completes Sale of Jamaica Assets & Operations to Excelerate Energy and Announces First Quarter 2025 Results
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (Nasdaq: NFE) ('NFE' or the 'Company') today announced the completion of the sale of its assets and operations in Jamaica to Excelerate Energy, Inc. (NYSE: EE) ('Excelerate') for $1.055 billion. The transaction was initially announced by NFE on March 27, 2025. Proceeds from the transaction will be used to reduce NFE's corporate debt and for general corporate purposes. Pursuant to the transaction, Excelerate Energy, Inc. has acquired full ownership of NFE's LNG import terminal in Montego Bay, offshore floating storage and regasification terminal in Old Harbour, and 150 MW Combined Heat and Power Plant in Clarendon, along with the associated infrastructure. 'The closing of the sale of our Jamaican assets to Excelerate is a significant milestone for the Company as we streamline our operations and paydown corporate debt through asset sales,' said Wes Edens, Chairman and CEO of New Fortress Energy. 'NFE has made a positive impact on Jamaica's energy transition, and we are proud of the contributions our world class employees and assets have made in improving energy costs and reliability on the island. We are confident that Excelerate will continue NFE's vision of providing reliable and cost-effective energy to Jamaica and continue to drive substantial progress towards improving Jamaica's energy future.' The Company today also reported its financial results for the first quarter of 2025. Adjusted EBITDA (1) of $82 million in the first quarter of 2025 Net loss of $197 million in the first quarter of 2025 EPS of $(0.73) on a fully diluted basis in the first quarter of 2025 Total cash balance of $827 million, of which $448 million is unrestricted as of March 31, 2025 Our first quarter 2025 Adjusted EBITDA of $82 million is entirely comprised of what we consider to be core earnings, which consist of earnings from our terminal and vessel operations without regard to any one-time gains that have benefited our results in prior periods. Other than the novation income that we earned last quarter, our revenue from terminal operations have been largely unchanged since the termination of our temporary power contract in the first quarter of 2024. As we have previously disclosed, we sold the emergency power plants to the Puerto Rico Electric Power Authority in March 2024 and no longer recognize revenue from the temporary power project. We are pursuing a request for equitable adjustment related to the early termination of the temporary power project. 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. We expect our core earnings to increase as our developments in Brazil, Nicaragua and expansions in Puerto Rico, come online (3). In Brazil, we have continued to make great progress on our power plant developments, with our 624 MW CELBA plant ~95% complete (3), and the adjacent PortoCem power plant that is over 50% complete (3). Both projects are on-time and on-budget and we expect to start generating earnings from the CELBA power plant in the third quarter of this year. These developments are fully funded with asset-level debt already in place. Our Fast LNG asset has been fully commissioned, and we are in the process of increasing available liquefaction capacity through optimization projects. We have just announced the closing of the sale of our Jamaican assets and operations to Excelerate Energy, Inc. for $1.055 billion, highlighting our near term focus on asset sales and corporate debt reduction. We've committed to use the proceeds of this transaction to pay down $270 million of our Revolving Credit Facility, and pay down $55 million of our Term Loan A facility, with remaining proceeds going to cash on our balance sheet. Following the sale of our Jamaica business, our plan is to simplify our balance sheet with a potential asset based financing with a similar structure to other liquefier financings and using our robust portfolio of LNG terminals and long term LNG supply and downstream demand contracts. Financial Detail Please refer to our Q1 2025 Investor Presentation (the 'Presentation') for further information about the following terms: 1)'Adjusted EBITDA,' see definition and reconciliation of this non-GAAP measure in the exhibits to this press release. 2) 'Total Segment Operating Margin' is the total of our Terminals and Infrastructure Segment Operating Margin and Ships Segment Operating Margin, each as reported in our financial statements. Our segment measure also excludes unrealized mark-to-market gains or losses on derivative instruments, certain contract acquisition costs and deferred earnings from contracted sales for which a prepayment has been received. 3) "Completed", 'Placed into service' "Online" or similar statuses (either capitalized or lower case) with respect to a particular project means we expect gas to be made available in the near future, gas has been made available to the relevant project, or that the relevant project is in full commercial operations. Where gas is going to be made available or has been made available but full commercial operations have not yet begun, full commercial operations will occur later than, and may occur substantially later than, our reported Operational, Completion or Deployment date, and we may not generate any revenue until full commercial operations have begun. We cannot assure you if or when such projects will reach full commercial operation. Our ability to export liquefied natural gas depends on our ability to obtain export and other permits from governmental and regulatory agencies. No assurance can be given that we will receive required permits, approvals and authorizations from governmental and regulatory agencies in connection with the exportation of liquefied natural gas on a timely basis or at all or that, once received, we will be able to maintain in full force and effect, renew or replace such permits, approvals and authorizations. Preliminary Results The company's actual operating results remain subject to the completion of its quarter-end closing process, which includes review by management and the Audit Committee of the company's Board of Directors. While carrying out such procedures, the company may identify items that would require it to make adjustments to the preliminary estimates of the results set forth herein. As a result, the company's actual results could differ from the preliminary results set forth herein and such differences could be material. The information presented herein should not be considered a substitute for the financial information the company files with the Securities and Exchange Commission in its Quarterly Report on Form 10-Q for the three months ended March 31, 2025. The company has no intention or obligation to update the preliminary estimates of operating results set forth above prior to the release of its consolidated financial statements as of and for the three months ended March 31, 2025. Additional Information For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investors section of New Fortress Energy's website, and the Company's most recent Annual Report on Form 10-K, which is available on the Company's website. Nothing on our website is included or incorporated by reference herein. Earnings Conference Call Management will host a conference call on Wednesday, May 14, 2025 at 4:30 P.M. Eastern Time. The conference call may be accessed by dialing (888) 256-1007 (toll free from within the U.S.) or +1-323-701-0225 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference 'NFE First-Quarter 2025 Earnings Call' or conference code 8378656. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at under the Investors section within 'Events & Presentations.' Please allow time prior to the call to visit the site and download any necessary software required to listen to the internet broadcast. A replay of the conference call will be available at the same website location shortly after the conclusion of the live call. About New Fortress Energy Inc. New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to address energy poverty and accelerate the world's transition to reliable, affordable, and clean energy. The Company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the Company's assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world. Cautionary Statement Concerning Forward-Looking Statements This press release contains certain statements and information that may constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as 'expects,' 'may,' 'will,' 'can,' 'could,' 'should,' 'predicts,' 'intends,' 'plans,' 'estimates,' 'anticipates,' 'believes,' 'schedules,' 'progress,' 'targets,' 'budgets,' 'outlook,' 'trends,' 'forecasts,' 'projects,' 'guidance,' 'focus,' 'on track,' 'goals,' 'objectives,' 'strategies,' 'opportunities,' 'poised,' or the negative version of those words or other comparable words. Forward looking statements include statements regarding the transaction, including deleveraging following the closing of the transaction and other anticipated benefits from the transaction. These forward-looking statements are based upon current information and involve a number of risks, uncertainties and other factors, many of which are outside of the Company's control. Actual results or events may differ materially from the results anticipated in these forward-looking statements. Specific factors that could cause actual results to differ from those in the forward-looking statements include, but are not limited to: our strategy and plans for the Company, including the structure, form, timing and nature of the Company's business in the future and characteristics of the business going forward; risks related to the development, construction, completion or commissioning schedule for the facilities; risks related to the operation and maintenance of our facilities and assets; failure of our third-party contractors, equipment manufacturers, suppliers and operators to perform their obligations for the development, construction and operation of our projects, vessels and assets; our ability to implement our business strategy; our capital allocation plans, as such plans may change including with respect to de-leveraging actions; operational execution by our businesses; changes in law, economic and financial conditions, including the effect of enactment of U.S. tax reform or other tax law changes, trade policy and tariffs, interest and exchange rate volatility, commodity and equity prices and the value of financial assets; the other factors that are described in "Forward-Looking Statements" in the Company's most recent earnings release or SEC filings; and the other factors that are described in "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, as updated in our Quarterly Reports on Form 10-Q. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of the Company's forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no duty to update or revise any forward-looking statements, even though our situation may change in the future or we may become aware of new or updated information relating to such forward-looking statements. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in New Fortress Energy Inc.'s annual and quarterly reports filed with the Securities and Exchange Commission, which could cause its actual results to differ materially from those contained in any forward-looking statement. Exhibits – Financial Statements Adjusted EBITDA For the three months ended March 31, 2025 (Unaudited, in thousands of U.S. dollars) Adjusted EBITDA is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to income from operations, net income, cash flow from operating activities or any other measure of performance or liquidity derived in accordance with GAAP. We believe this non-GAAP measure, as we have defined it, offers a useful supplemental view of the overall operation of our business in evaluating the effectiveness of our ongoing operating performance in a manner that is consistent with metrics used for management's evaluation of our overall performance and to compensate employees. We believe that Adjusted EBITDA is widely used by investors to measure a company's operating performance without regard to items such as interest expense, taxes, depreciation, and amortization which vary substantially from company to company depending on capital structure, the method by which assets were acquired and depreciation policies. Further, we exclude certain items from our SG&A not otherwise indicative of ongoing operating performance. We calculate Adjusted EBITDA as net income, plus transaction and integration costs, contract termination charges and loss on mitigations sales, depreciation and amortization, asset impairment expense, loss on asset sales, interest expense, net, other (income) expense, net, loss on extinguishment of debt, changes in fair value of non-hedge derivative instruments and contingent consideration, tax expense, and adjusting for certain items from our SG&A not otherwise indicative of ongoing operating performance, including non-cash share-based compensation and severance expense, non-capitalizable development expenses, cost to pursue new business opportunities and expenses associated with changes to our corporate structure, certain non-capitalizable contract acquisition costs plus our pro rata share of Adjusted EBITDA from certain unconsolidated entities, less the impact of equity in earnings (losses) of certain unconsolidated entities. Adjusted EBITDA is mathematically equivalent to our Total Segment Operating Margin, as reported in the segment disclosures within our financial statements, minus Core SG&A, including our pro rata share of such expenses of certain unconsolidated entities, minus deferred earnings for which a prepayment was received. Core SG&A is defined as total SG&A adjusted for non-cash share-based compensation and severance expense, non-capitalizable development expenses, cost of exploring new business opportunities and expenses associated with changes to our corporate structure. Core SG&A excludes certain items from our SG&A not otherwise indicative of ongoing operating performance. The principal limitation of this non-GAAP measure is that it excludes significant expenses and income that are required by GAAP to be recorded in our financial statements. Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measure to our GAAP net income, and not to rely on any single financial measure to evaluate our business. Adjusted EBITDA does not have a standardized meaning, and different companies may use different Adjusted EBITDA definitions. Therefore, Adjusted EBITDA may not be necessarily comparable to similarly titled measures reported by other companies. Moreover, our definition of Adjusted EBITDA may not necessarily be the same as those we use for purposes of establishing covenant compliance under our financing agreements or for other purposes. Adjusted EBITDA should not be construed as alternatives to net income and diluted earnings per share attributable to New Fortress Energy, which are determined in accordance with GAAP. The following table sets forth a reconciliation of net income to Adjusted EBITDA for the three months ended March 31, 2024, December 31, 2024 and March 31, 2025: Segment Operating Margin (Unaudited, in thousands of U.S. dollars) Performance of our two segments, Terminals and Infrastructure and Ships, is evaluated based on Segment Operating Margin. Segment Operating Margin reconciles to Consolidated Segment Operating Margin as reflected below, which is a non-GAAP measure. We define Consolidated Segment Operating Margin as GAAP net income, adjusted for selling, general and administrative expense, transaction and integration costs, contract termination charges and loss on mitigation sales, depreciation and amortization, asset impairment expense, loss on asset sales, interest expense, other (income) expense, loss on extinguishment of debt, net, (income) loss from equity method investments and tax (benefit) provision. Consolidated Segment Operating Margin is mathematically equivalent to Revenue minus Cost of sales minus Operations and maintenance minus Vessel operating expenses, each as reported in our financial statements. (1) Consolidation and Other adjusts for deferred earnings that were included in Terminals and Infrastructure in the prior quarters, but were recognized as revenue during the fourth quarter of 2024. Expand Condensed Consolidated Balance Sheets For the three months ended March 31, 2025 and 2024 (Unaudited, in thousands of U.S. dollars, except share and per share amounts) March 31, 2025 December 31, 2024 Assets Current assets Cash and cash equivalents $ 447,862 $ 492,881 Restricted cash 379,537 472,696 Receivables, net of allowances of $13,322 and $13,629, respectively 273,136 335,813 Inventory 66,695 103,224 Assets held for sale - current 104,553 — Prepaid expenses and other current assets, net 201,925 205,496 Total current assets 1,473,708 1,610,110 Construction in progress 3,901,113 3,574,389 Property, plant and equipment, net 5,545,980 5,842,807 Right-of-use assets 465,939 618,733 Intangible assets, net 188,118 179,510 Goodwill 594,256 766,350 Deferred tax assets, net 6,848 2,698 Assets held for sale - non-current 633,654 — Other non-current assets, net 218,464 272,899 Total assets $ 13,028,080 $ 12,867,496 Liabilities Current liabilities Current portion of long-term debt and short-term borrowings $ 260,848 $ 539,132 Accounts payable 655,073 473,736 Accrued liabilities 268,083 391,359 Current lease liabilities 82,442 128,362 Liabilities held for sale - current 35,894 — Other current liabilities 171,342 174,829 Total current liabilities 1,473,682 1,707,418 Long-term debt 8,931,506 8,355,703 Non-current lease liabilities 355,050 475,161 Deferred tax liabilities, net 51,359 73,198 Liabilities held for sale - non-current 135,398 — Other long-term liabilities 168,851 166,358 Total liabilities 11,115,846 10,777,838 Commitments and contingencies (Note 20) Series B convertible preferred stock, $0.01 par value, 36,746 shares authorized, issued and outstanding as of March 31, 2025 (96,746 as of December 31, 2024); aggregate liquidation preference of $36,746 and $96,746 at March 31, 2025 and December 31, 2024 40,708 90,570 Stockholders' equity Class A common stock, $0.01 par value, 750 million shares authorized, 273.8 million issued and outstanding as of March 31, 2025; 266.5 million issued and outstanding as of December 31, 2024 2,738 2,664 Additional paid-in capital 1,722,829 1,674,312 Retained earnings (accumulated deficit) (3,766 ) 196,363 Accumulated other comprehensive income 26,671 3,089 Total stockholders' equity attributable to NFE 1,748,472 1,876,428 Non-controlling interest 123,054 122,660 Total stockholders' equity 1,871,526 1,999,088 Total liabilities and stockholders' equity $ 13,028,080 $ 12,867,496 Expand
