New Fortress Energy Inc. (NASDAQ:NFE) Q4 2022 Earnings Conference Call February 28, 2023 8:00 AM ET

Company Participants

Patrick Hughes - Investor Relations

Wes Edens - Chairman and Chief Executive Officer

Chris Guinta - Chief Financial Officer

Andrew Dete - Managing Director, Commercial

Cameron MacDougall - Secretary

Conference Call Participants

Cameron Lochridge - Bank of America

Marc Solecitto - Barclays

Sam Burwell - Jefferies

Sean Morgan - Evercore

Greg Lewis - BTIG

Martin Malloy - Johnson Rice

Operator

Good day and welcome to the New Fortress Energy Fourth Quarter 2022 Earnings Conference Call. Today’s conference is being recorded. At this time, I would like to turn the conference over to Mr. Patrick Hughes of Investor Relations. Please go ahead, sir.

Patrick Hughes

Thank you, Jess, and good morning everyone. Thanks for joining today’s conference call during which we will discuss our fourth quarter and full year 2022 results as well as recent highlights and the very promising outlook for our business. As Jess 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. In fact, at that same location on our website, you will find a press release and the corresponding presentation we are going to step through today. As we proceed through the discussion with Wes and the team, we will be referring to that presentation. In the presentation, you will see 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. I look after Investor Relations here at New Fortress. Joining me today 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. Welcome, everyone. And format, as usual, we are going to flip through the presentation that we posted. So, let’s just start at the beginning, so Page 3. 2022 was a very, very good year for the company, very volatile markets overall in the world, and we have delivered very solid results, nearly 2x the EBITDA and free cash flow 2021. Probably more importantly, the forecast that we have for the upcoming year is roughly 2x the results of 2021 – ‘22. So, very, very good financial results and not only the absolute number is good, but the quality of earnings continues to improve. More and more of our earnings comes from our downstream activities. Those are the long-term dated cash flows that actually are easy to predict and easy to model for all of you and does for us, so very, very good start to the year.