Excelerate Energy (EE) shares plummeted 5.74% in pre-market trading on Monday following the release of its second-quarter earnings report. Despite beating earnings per share (EPS) estimates, the company's revenue fell significantly short of expectations, disappointing investors.
The liquefied natural gas (LNG) solutions provider reported Q2 adjusted earnings of $0.34 per diluted share, up from $0.26 a year earlier and slightly above the analyst estimate of $0.32. However, the company's revenue for the quarter ended June 30 came in at $204.6 million, falling well short of the $235.60 million analyst estimate and only marginally higher than the $183.3 million reported in the same quarter last year.
While Excelerate Energy showed some positive results, including an adjusted EBITDA of $107.1 million (beating the estimate of $96.2 million) and an adjusted net income of $46.8 million (surpassing the estimate of $10.1 million), the revenue miss seems to have overshadowed these achievements. The company also raised its full-year guidance, projecting adjusted EBITDA in the range of $420-440 million. However, this positive outlook was not enough to prevent the stock's sharp decline, highlighting investors' concerns about the company's top-line growth in a challenging energy market.
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