New Fortress Energy Inc. (NASDAQ:NFE) Q1 2023 Earnings Conference Call May 4, 2023 8:00 AM ET

Company Participants

Patrick Hughes – Investor Relations

Wes Edens – Chairman and Chief Executive Officer

Brandon Bonfig – Assistant Vice President

Chris Guinta – Chief Financial Officer

Andrew Dete – Managing Director, Commercial

Conference Call Participants

Ben Nolan – Stifel

Devin McDermott – Morgan Stanley

Sam Margolin – Wolfe Research

Chris Robertson – Deutsche

Cameron Lochridge – Bank of America

Sam Burwell – Jefferies

Sean Morgan – Evercore

Operator

Good day, ladies and gentlemen, and thank you all for joining us for this NFE First Quarter 2023 Earnings Conference Call. As a reminder, all lines are in a listen-only mode, but later you will have the opportunity to ask questions.

To get us started with opening remarks and introductions, I am pleased to turn the floor to Mr. Patrick Hughes with Investor Relations. Welcome, sir.

Patrick Hughes

Thank you, Jim, and good morning, everyone. Thanks for joining today’s conference call during which we will discuss our first quarter 2023 results, NFE’s recent development and operational highlights, and what continues to be a very bright future for our business. As Jim said, the call is being recorded and will be available by replay on the Investors section of our website under the subheading Events and Presentations.

And in fact, at that same location on our website, you will find a press release regarding our first quarter 2023 results and the corresponding presentation that we’ll walk through on today’s call. As we proceed through the discussion with Wes and the team, we will be referring to that presentation and in that same presentation, you will also find a series of important disclosures related to forward-looking statements and non-GAAP financial measures. We encourage participants to review these important disclosures in addition to the description of risk factors contained within our SEC filings.

Now, let’s get underway with the call. This is Patrick Hughes. And joining me today here at New Fortress Energy are Wes Edens, our Chairman and Chief Executive Officer; Chris Guinta, our Chief Financial Officer; and Andrew Dete and other members of our senior leadership team.

Wes, over to you.

Wes Edens

Great. Thanks, Patrick, and welcome, everyone. I have a lot of good updates to go through today. So let’s start with the deck as usual. So let’s start on Page number 3. Just looking at the financials starting from left to right, very good quarter and very good start to the year. Segment revenue for the quarter $601 million, adjusted EBITDA $440 million, free cash flow $185 million.