New Fortress Energy

NFE

Market cap $393M

New Fortress Energy received conditional approval from Puerto Rico's Financial Oversight and Management Board. With creditors closing in, the Puerto Rico contract is critical if New Fortress hopes to avoid bankruptcy.

New Fortress Energy (NASDAQ: NFE) soared nearly 30% in premarket on Monday after securing conditional approval from Puerto Rico for a 7-year liquefied natural gas (LNG) supply agreement. The $3.2 billion deal represents a major commercial opportunity for the energy infrastructure firm, which has been expanding its footprint in the Caribbean.

New Fortress Energy, Inc. (NASDAQ: NFE) shares skyrocketed Monday as investors digested news of the conditional approval of a large liquified natural gas supply contract.

New Fortress Energy is heavily indebted and struggling to secure a critical contract in Puerto Rico. The company was given a lifeline by creditors, but its problems are far from solved.

On Friday, debt-laden LNG infrastructure player New Fortress Energy reported another set of dismal quarterly results with substantial operating losses and cash outflows. The company entered into a forbearance agreement with noteholders after failing to make a $163.8 million interest payment last week. In addition, credit facility lenders agreed to limited covenant relief in order to provide more time for restructuring negotiations.

NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today announced that it has signed a forbearance agreement with representatives of the holders of its new senior secured notes due 2029. Under this agreement, the due date for interest payments scheduled for November 17, 2025 has been effectively extended to December 15, 2025. During the forbearance period, NFE expects to continue to work constructively with the company's stakeholders. About New Fortress.

New Fortress Energy has sought more time to file its third-quarter results, the U.S. liquefied natural gas company said on Wednesday, as it negotiates a debt restructuring amid an upcoming interest payment.

New Fortress Energy (NFE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

New Fortress Energy Inc. faces severe challenges with a 90% YTD stock decline and a $9B debt burden but retains significant upside potential. Key catalysts for NFE include a possible $20B Puerto Rico contract, a $659MM FEMA claim, new plant startups in Brazil, and asset monetization. Risks remain high due to imminent debt maturities and potential bankruptcy, but management's private equity expertise and restructuring efforts offer hope.

Shares of New Fortress Energy (NFE -9.22%) fell this week, finishing down 24%. The drop came as the S&P 500 and Nasdaq-100 lost 2.4% and 2.3%, respectively.