Excelerate Energy (EE) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenues reached $329.3 million, net income was $50.1 million, and adjusted EBITDA was $120.1 million, reflecting strong operational performance and contributions from the Jamaica platform and new LNG contracts in Jordan and Colombia.

• Declared a quarterly dividend of $0.09 per share, a 13% increase from the prior quarter, with a target of low double-digit annual growth through 2028.

• Strategic milestones included the Acadia deployment in Jordan, FSRU Express recontracting for Colombia, and progress on Iraq's first LNG terminal.

• Acquired LNG carrier Methane Patricia Camila for $79 million for FSRU conversion, targeting early 2028 deployment.

• Continued expansion and optimization of the integrated LNG and power platform in Jamaica, supporting scalable Caribbean growth.

Financial highlights

• Q2 2026 net income was $50.1 million, adjusted EBITDA was $120.1 million, and revenues rose 61% year-over-year to $329.3 million, driven by the Jamaica acquisition and new LNG contracts.

• Maintenance CapEx was $14 million in Q2; committed growth capital spend was $241 million, including final Acadia payment.

• Ended Q2 with $342 million cash, $1.2 billion total debt, and $500 million undrawn revolver.

• Net debt stood at $898 million; trailing net leverage at 1.9x.

• Adjusted EBITDA margin for Q2 2026 was 36.5%; net income margin was 15.2%.

Outlook and guidance

• Full-year 2026 adjusted EBITDA guidance raised and narrowed to $490–$515 million, reflecting strong contracted business and asset optimization.

• Committed growth capital guidance increased to $380–$400 million, mainly due to Iraq project and FSRU conversion costs.

• Maintenance CapEx guidance lowered to $85–$95 million due to deferral of FSRU Exquisite dry dock.

• Dividend growth target remains low double-digit annually through 2028.

• Long-term LNG market outlook remains constructive, with significant new supply expected by 2030.