Excelerate Energy reported second-quarter revenue of $329.3 million, up 61% year over year and beating analyst estimates of $324.1 million, while adjusted EPS of $0.37 and adjusted EBITDA of $120.1 million also topped expectations. Management attributed the growth to the full-quarter contribution from its Jamaica platform, the redeployment of the Acadia vessel to Jordan, and disciplined asset optimization. During the earnings call, analysts from Barclays, Goldman Sachs, JPMorgan, Deutsche Bank, and Capital One pressed executives on recontracting terms for the Express vessel in Colombia, the rationale for converting the Methane Patricia Camila into a floating storage and regasification unit, growth opportunities in Jamaica and the Caribbean, the impact of Middle East instability on contract structures, and prospects in newer markets like Bangladesh and Colombia. CEO Steven Kobos said market tightness should support favorable contract terms, while CCO Oliver Simpson indicated incremental sales are already occurring and more news is expected later in the year.
Excelerate Energy IncQ2 revenue, EPS, and EBITDA beat estimates, with management citing growth drivers.
