Here is the revised earnings summary article for Excelerate Energy Inc organized for clarity and r
Intellectia.AI Updated: 2024-08-08
Here is the revised earnings summary article for Excelerate Energy, Inc. organized for clarity and readability:
Excelerate Energy Reports Second Quarter 2024 Financial Results
Excelerate Energy, Inc. (NYSE:EE) has announced its financial results for the second quarter ending June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | QoQ Change | Consensus Estimates |
|---|---|---|---|---|---|---|
| Total Revenue | $181.2M | $165M | $155.5M | +16.5% | +9.8% | $181M |
| Earnings Per Share (EPS) | $0.31 | $0.25 | $0.28 | +10.7% | +24% | $0.31 |
| Net Income | $33.3M | $26.8M | $30.0M | +11% | +24.25% | N/A |
| Adjusted EBITDA | $89.0M | $75M | $81.5M | +9.2% | +18.67% | N/A |
Interpretation: Excelerate Energy displayed robust growth in its key financial metrics, surpassing both year-over-year and quarter-over-quarter figures. The strong performance can be attributed mainly to increased charter rates and a notable rise in interest income.
Segment Revenue Performance
| Segment | Q2 2024 Revenue | Guidance Expected | Previous Quarter Guidance |
|---|---|---|---|
| Regasification Services | $115M | $110M | $103M |
| LNG Terminal Services | $66.2M | $65M | $62M |
Interpretation: Both regasification services and LNG terminal services exceeded previous guidance, reflecting the strength of Excelerate’s core business areas.
Comments from Company Officers
CEO Steven Kobos stated, "We are pleased to have delivered another quarter of strong financial and operational results... Excelerate's performance in the second quarter reflects the strength of our core regasification business and the value of our robust and predictable FSRU and Terminal Services contract portfolio."
Dividends and Share Repurchase Program
Excelerate declared a quarterly dividend of $0.025 per share, payable on September 5, 2024, to shareholders of record as of August 21, 2024.
Forward Guidance
Excelerate has raised its full-year 2024 guidance for Adjusted EBITDA, now expecting it to range between $320 million and $340 million.
Stock Price Movement
Post-earnings release, Excelerate’s stock experienced a decline of approximately 1.20%.
About Excelerate Energy
Excelerate Energy, Inc. is a leading provider of integrated LNG solutions, delivering rapid-to-market and reliable LNG services across the globe.
For more information, visit Excelerate Energy’s website .
Please ensure the accuracy of the data before publication.
