Excelerate Energy Announces Preliminary Q1 2025 Financial Results
Excelerate Energy, Inc. (NYSE: EE) (“Excelerate” or the “Company”) today announced its preliminary estimated financial results for the first quarter ended March 31, 2025.
Preliminary Q1 2025 Financial Highlights
- Income before taxes is projected to range between $52 million and $59 million
- Adjusted EBITDA is expected to be between $96 million and $101 million
- Cash and cash equivalents are estimated at $600 million to $620 million as of March 31, 2025. This figure does not include the approximately $175.5 million in net proceeds from the Company’s Class A common stock offering, which closed on April 2, 2025.
- The Company’s $350 million Revolving Credit Facility remained fully undrawn and entirely available as of the end of the quarter.
Leadership Commentary
Dana Armstrong, Executive Vice President and Chief Financial Officer of Excelerate, commented:
“We are pleased to report another quarter of strong financial performance. Our preliminary results reflect the successful execution of our strategic priorities and a disciplined approach to cost management across our global fleet.
Furthermore, we are enthusiastic about our recently announced acquisition of an integrated LNG and power platform in Jamaica. This strategic investment expands our international footprint, enhances our cash flow, and is expected to drive future earnings growth.
We remain focused on delivering value for our shareholders through prudent capital allocation and an unwavering commitment to near-term value creation.”
Use of Non-GAAP Financial Measures
This press release includes Adjusted EBITDA, a non-GAAP financial measure, which Excelerate uses as a supplemental metric to evaluate its operating performance. Adjusted EBITDA is defined as net income excluding interest expense, income taxes, depreciation and amortization, accretion, non-cash long-term incentive compensation, and certain non-recurring items not reflective of ongoing business operations.
While Adjusted EBITDA provides additional insight into the Company’s operations, it should not be considered a substitute for financial information presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP).
Due to the preliminary nature of the financial results and the ongoing quarter-end close process, Excelerate has not yet completed its income tax accounting for the three-month period ended March 31, 2025. As a result, income before income taxes is currently being used for reconciliation purposes. The Company believes this approach is more informative at this stage, given the complexity of finalizing deferred tax asset and liability assessments, as well as potential valuation allowance requirements.
Excelerate will provide a full reconciliation of income before taxes to Adjusted EBITDA once final results are available.
ABOUT EXCELERATE ENERGY, INC.
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of services across the LNG value chain. Excelerate has a presence in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Hanoi, Helsinki, London, Rio de Janeiro, Singapore, and Washington, DC.