Excelerate Energy, Inc. Q2 Profit Decreases, Misses Estimates

(RTTNews) - Excelerate Energy, Inc. (EE) reported a profit for second quarter that Decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $20.8 million, or $0.15 per share. This compares with $33.3 million, or $0.26 per share, last year.

Excluding items, Excelerate Energy, Inc. reported adjusted earnings of $46.8 million or $0.34 per share for the period.

Analysts on average had expected the company to earn $0.35 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 11.6% to $204.6 million from $183.3 million last year.

Excelerate Energy, Inc. earnings at a glance (GAAP) :

-Earnings: $20.8 Mln. vs. $33.3 Mln. last year. -EPS: $0.15 vs. $0.26 last year. -Revenue: $204.6 Mln vs. $183.3 Mln last year.

This decline in net profit reflects transition and transaction costs incurred as a result of the Jamaica acquisition and an increase in interest expense.