Excelerate Energy Inc. (NYSE:EE) Q2 2023 Results Conference Call August 10, 2023 8:30 AM ET

Company Participants

Craig Hicks - Vice President of Investor Relations

Steven Kobos - President and Chief Executive Officer

Dana Armstrong - Executive Vice President and Chief Financial Officer

Daniel Bustos - Chief Commercial Officer

Conference Call Participants

Chris Robertson - Deutsche Bank

Jeremy Tonet - JPMorgan

Michael Blum - Wells Fargo

Operator

Good morning, ladies and gentlemen and welcome to the Excelerate Energy Second Quarter 2023 Earnings Conference Call. My name is Grant and I'll be the operator for today's call. After today’s presentation there will be a question and answer session. [Operator Instructions]

I would now like to turn the conference over to our host, Craig Hicks, Vice President of Investor Relations and ESG. Please go ahead.

Craig Hicks

Good morning, everyone. Thank you for joining Excelerate Energy's second quarter 2023 financial results call. Participating on the call today are Steven Kobos, President and Chief Executive Officer and Dana Armstrong, Executive Vice President and Chief Financial Officer. Also joining the call today is Daniel Bustos, Executive Vice President and Chief Commercial Officer.

Our second quarter 2023 results press release and presentation were released yesterday afternoon and can be found on our website at ir.excelerateenergy.com. I would like to remind everyone that we will be making forward-looking statements on this call that involve a number of risks and uncertainties. Our actual results may differ materially from those expressed in these forward-looking statements, and we make no obligation to update or revise them.

Today's remarks will also refer to certain non-GAAP financial measures. We have provided a reconciliation to the most directly comparable GAAP financial measures at the back of the presentation.

With that, I'd like to now turn the call over to Steven Kobos, Chief Executive Officer of Excelerate Energy.

Steven Kobos

Thanks, Craig, and thank you all for joining us today for our second quarter 2023 earnings conference call. Today my remarks will touch on our financial performance during the quarter and outlook for the global LNG market for the remainder of '23 and a review of our strategic objectives. I'll then pass the call over to Dana, who will provide more detail on our financial results for the quarter.

Excelerate reported strong financial results in the second quarter with adjusted EBITDA coming in at $89 million and net income close to $30 million. Our financial results were underpinned by the stable revenues and predictable margins that we see from our FSRU and Terminal Services business. Our consistent earnings performance during periods of volatility, and the LNG market underscores the attractiveness of Excelerate Energy as an investment opportunity. In addition to delivering strong financial results, we also have several other notable highlights.