Excelerate Energy (EE) Q4 2024 earnings summary

Executive summary

• Achieved record full-year 2024 adjusted EBITDA of $348.2 million and net income of $153 million, a 21% year-over-year increase, driven by strong regasification business and charter rate increases.

• Delivered 99.9% fleet reliability and completed over 3,000 LNG ship-to-ship transfers since 2007, reinforcing operational leadership.

• Declared a quarterly cash dividend of $0.06 per share, annualized at $0.24 per share, payable March 27, 2025.

• Continued focus on core regasification business, strategic fleet expansion, and disciplined capital allocation.

Financial highlights

• Full-year 2024 revenues were $851.4 million, with adjusted EBITDA of $348.2 million and net income of $153 million, up from $126.8 million in 2023.

• Q4 2024 net income was $46.1 million and adjusted EBITDA was $91.6 million, both flat sequentially.

• Total debt at year-end was $696 million, with $538 million in cash and $158 million net debt.

• Operating income for 2024 was $215 million, up from $210.6 million in 2023.

• Adjusted gross margin for 2024 was $408.1 million.

Outlook and guidance

• 2025 adjusted EBITDA guidance set at $340–$360 million, reflecting core business strength and LNG supply optimization.

• Maintenance capex for 2025 projected at $60–$70 million, including planned drydocks for two FSRUs.

• Committed growth capital for 2025 projected at $65–$75 million, including milestone payments for new build Hull 3407.