New Fortress Energy Inc Q1 Profit Drops, Inline With Estimates

(RTTNews) - New Fortress Energy Inc (NFE) reported earnings for first quarter that decreased from last year in line with the Street estimates.

The company's bottom line came in at $56.7 million, or $0.26 per share. This compares with $151.6 million, or $0.71 per share, in last year's first quarter.

Excluding items, New Fortress Energy Inc reported adjusted earnings of $138.4 million or $0.67 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.2% to $690.3 million from $579.1 million last year.

New Fortress Energy Inc earnings at a glance (GAAP) :

-Earnings (Q1): $56.7 Mln. vs. $151.6 Mln. last year. -EPS (Q1): $0.26 vs. $0.71 last year. -Revenue (Q1): $690.3 Mln vs. $579.1 Mln last year.