On Monday, Excelerate Energy, Inc. (NYSE:EE) announced adjusted earnings of $0.34 per share for the second quarter, beating analyst estimates of $0.29, despite reporting revenue of $204.6 million, which fell short of the $243.2 million consensus.
Following the news, the company’s shares climbed 0.74% in pre-market trading.
The LNG infrastructure provider posted adjusted EBITDA of $107.1 million for the quarter, up from $89.0 million a year earlier. This increase was largely fueled by the recent acquisition of an integrated LNG and power platform in Jamaica, which closed in May and is already outperforming expectations.
“Excelerate delivered another robust quarter, demonstrating the strength of our business model and our focus on operational excellence,” said Steven Kobos, President and CEO of Excelerate. “Our results reflect the performance of our terminal services and early contributions from our Jamaica operations.”
Net income declined to $20.8 million from $33.3 million year-on-year, mainly due to transition and transaction costs tied to the Jamaica acquisition and higher interest expenses. However, adjusted net income increased to $46.8 million from $33.3 million in the previous year.
Buoyed by the strong results and promising outlook from the Jamaica deal, Excelerate raised its full-year 2025 adjusted EBITDA forecast to a range of $420 million to $440 million. Additionally, the company boosted its quarterly dividend by about 33%, to $0.08 per share.
The Jamaica acquisition marks a strategic growth step for Excelerate, bringing Montego Bay and Old Harbour LNG terminals, along with the Clarendon combined heat and power plant, into its portfolio. The company also completed the purchase of an LNG carrier, now named Excelerate Shenandoah, to support a previously announced mid-term supply agreement in the Atlantic Basin.
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