Excelerate Energy Q2 Adjusted EBITDA Beats, Raises Full-Year Outlook
EE sits 81% above its 52-week low of $21.285.
Summary
Excelerate Energy delivered a strong Q2, with adjusted EBITDA of $120.1M beating the $117.3M consensus and adjusted net income of $50.1M far exceeding the $12.98M estimate. Revenue missed at $329.3M vs. $344.3M expected, but the bottom-line beat was driven by a full quarter contribution from the Jamaica platform and the absence of prior-year acquisition costs. Management raised the full-year adjusted EBITDA guidance to $490M-$515M, up from prior, and lifted committed growth capex to $380M-$400M while trimming maintenance capex to $85M-$95M on deferred dry dock. The 13% dividend increase signals confidence in cash flows. This follows a July 22 Reuters report of a technical fault at a floating regasification unit off Mozambique, but the Q2 results and raised guidance suggest limited financial impact from that event.
At the time of this announcement, EE was trading at $38.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.4B. The 52-week trading range was $21.29 to $43.18. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.