Shares of New Fortress Energy LLC (NFE) continued their downward spiral, plummeting 5.26% in after-hours trading on Friday. This latest decline follows a series of sharp drops earlier in the week, as investors continue to react to the company's disappointing first-quarter results and growing concerns over weakening natural gas demand.

The liquefied natural gas (LNG) company recently reported a net loss of $197.4 million, or $0.73 per share, for the quarter ended March 31, a stark contrast to the net income of $56.7 million, or $0.26 per share, in the same period last year. Revenue also fell short, coming in at $470.5 million compared to analysts' expectations of $575.3 million. The poor performance was evident across all of New Fortress Energy's business segments, with the terminals and infrastructure unit seeing its operating margin decline by a staggering 78.7% to $74.6 million.

Adding to the company's woes, natural gas futures have dropped due to lower-than-expected demand forecasts, particularly in light of reduced gas flows to LNG export plants during the spring maintenance season. This broader market trend has affected several companies in the natural gas sector, further pressuring New Fortress Energy's stock price. As investors continue to digest the implications of these results and market conditions, NFE shares remain under significant pressure in after-hours trading.