Excelerate Energy, Inc. reported significant financial growth in its latest quarterly results, driven primarily by the acquisition of New Fortress Energy Inc.'s business in Jamaica. For the three months ending September 30, 2025, the company generated total revenues of $391.0 million, a substantial increase of 102% from $193.4 million in the same period last year. Net income for the quarter rose to $55.0 million, compared to $45.5 million in the prior year, reflecting a 21% increase. The nine-month figures also showed strong performance, with revenues reaching $910.7 million, up from $576.9 million, and net income climbing to $127.9 million from $107.0 million.
The acquisition, finalized in May 2025 for approximately $1.055 billion, included three operational facilities in Jamaica and is expected to enhance Excelerate's long-term revenue and market presence. The company reported that the Jamaica operations contributed $22.0 million to net income during the quarter. This strategic move aligns with Excelerate's goal of expanding its LNG infrastructure and diversifying its geographic market reach, with the acquisition expected to secure approximately $2.9 billion in cumulative take-or-pay direct margin through 2039.
Operationally, Excelerate has expanded its footprint, now controlling or operating 11 floating regasification terminals and one onshore terminal across 12 countries. The company has also reported an increase in its customer base and engagement metrics, with a significant uptick in LNG, gas, and power sales opportunities, particularly in North America and Asia Pacific. The total assets of the company as of September 30, 2025, stood at $4.1 billion, a notable increase from $2.9 billion at the end of 2024, largely due to the acquisition.
Despite the positive financial results, the company faced challenges, including increased interest expenses related to its new 2030 Notes, which contributed to a rise in total operating expenses to $303.8 million for the quarter, up from $133.7 million a year earlier. The company also incurred transition and transaction expenses of $2.2 million in the third quarter, related to the acquisition. Looking ahead, Excelerate remains optimistic about its growth trajectory, anticipating continued demand for LNG and further opportunities for expansion in the global market, particularly as new liquefaction capacity comes online by 2030.
About Excelerate Energy, Inc.
Excelerate Energy, Inc. provides integrated LNG solutions, specializing in regasification services through a fleet of purpose-built floating storage and regasification units (FSRUs) and terminal infrastructure worldwide. Serving global markets, especially in emerging economies, it supplies cleaner natural gas to support energy security, economic growth, and decarbonization. Its business model emphasizes long-term contracts, fleet flexibility, and diversified LNG sourcing to deliver reliable, environmentally responsible energy access.
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