New Fortress Energy Inc. (NASDAQ:NFE) Q3 2022 Earnings Conference Call November 8, 2022 8:00 AM ET
Company Participants
Patrick Hughes - Investor Relations.
Wes Edens - Chairman and CEO
Chris Guinta - Chief Financial Officer
Andrew Dete - Managing Director, Commercial
Conference Call Participants
Ben Nolan - Stifel
Sam Margolin - Wolfe Research
Sean Morgan - Evercore
Sam Burwell - Jefferies
Martin Malloy - Johnson Rice
Greg Lewis - BTIG
Operator
Ladies and gentlemen, please standby. Good day. And welcome to the New Fortress Energy Third Quarter 2022 Earnings Call. Today’s conference is being recorded.
At this time, I would like to turn the conference over to Patrick Hughes, Managing Director, Investor Relations. Please go ahead.
Patrick Hughes
Thank you, Jake, and good morning, everyone. Welcome to New Fortress Energy’s third quarter 2022 earnings conference call. As Jake said, this call is being recorded and will be available by replay on the Investors section of our website under the subheading Events & Presentations. At the same location you will also find our Q3 2022 Investor Presentation, to which we will refer during today’s call.
The presentation contains 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 turn to today’s call. This is Patrick Hughes. I look after Investor Relations here at New Fortress Energy. Joining me today are Wes Edens, our Chairman and Chief Executive Officer; Chris Guinta, our Chief Financial Officer; Andrew Dete, Managing Director responsible for Commercial activities, as well as several other members of our team.
With that, I will turn the call over to Wes.
Wes Edens
Great. Thanks, Patrick, and thanks everyone for calling in this morning. So as usual, I am going to refer to the investor deck that we posted here this morning. So if you could pull it up and follow along, that would be great.
So let’s start on page number four. Q3 was another great quarter for the company. Very, very solid quarter financially $291 million in EBITDA, that puts us well on track for our $1.1 billion goal for the year. It’s up significantly from Q3 a year ago of $170 million, and just in general, on a financial basis was actually -- was quite a productive quarter.
In addition, we made significant progress on our two major aspects of our business, the supply side and the demand side. The supply side, of course, I am talking about the FLNG business. Chris will talk about that in some detail. We hosted a large group of investors, equity analysts, other participants last week down in Corpus Christi to share with them, not only the details of what we are actually doing down there, but also introduce them to the very talented team people that we have got who is executing for us and we feel great about that.