New Fortress Energy Reverses To Q2 Loss On Decreased Revenue

(RTTNews) - New Fortress Energy Inc. (NFE) Friday reported net loss of $88.85 million or $0.44 per share for the second quarter, compared with net income of $119.25 million or $0.58 per share in the same quarter a year ago.

Excluding one-time items, loss was $84.6 million or $0.41 per share, that missed the analysts' average estimate of $0.07 per share. Analysts' estimates typically exclude special items.

Funds from operations were a loss of $47.17 million or $0.23 per share

Revenue for the quarter declined to $428.01 million from $561.35 million in the previous year. The consensus estimate was for $509.23 million.