New Fortress Energy Reports Lower Financial Results in Q2 Due to Mexico LNG Delays

New Fortress Energy Reports Lower Financial Results in Q2 Due to Mexico LNG Delays

August 12, 2024--Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--New Fortress Energy Incorporated (NASDAQ:NFE) (New York, New York) registered lower earnings before interest, tax, depreciation and amortization (EBITDA) and a net loss following delays in starting up its FLNG 1 floating liquefied natural gas (FLNG) project in Mexico. The company announced an adjusted EBITDA of $120 million and a net loss of $87 million in second-quarter 2024. The delay in starting up FLNG 1 in Mexico impacted the financial results.

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