Exhibit 99.1

 
111 W 19th Street, 8th Floor
New York, NY  10011
 
New Fortress Energy Announces Fourth Quarter and Full Year 2020 Results; Final Investment Decision on “Fast LNG” Solution; Dividend of $0.10 per Class A common share

March 15, 2021

NEW YORK -- New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today reported its financial results for the fourth quarter and full year ending December 31, 2020. NFE also announced today that its Board of Directors has declared a first quarter 2021 common stock dividend of $0.10 per Class A common share.

Business Highlights


Announced 3 separate transactions for $5.1bn enterprise value

o
Acquiring Hygo Energy Transition Ltd., which includes Brazil’s largest thermal power plant and 3 Operational(1) or In Development(2) terminals. These terminals are expected to be Operational within 12 months.

o
Acquiring Golar LNG Partners LP, which includes stable, contracted cash flows from 13 vessels. Once released from current contracts, these vessels will serve as NFE’s logistics backbone for terminal operations.

o
Developing Suape Terminal – NFE acquired 288 MW of PPAs and is developing a terminal at the port of Suape that has material growth prospects and access to the TAG pipeline market.

o
Transactions would bring NFE’s total Operational or In Development terminals from five to nine.

Our projects in Mexico and Nicaragua are expected to be Operational in Q2 2021

o
We were awarded a supply contract by CFE to supply ~250k gallons per day (“GPD”) of LNG replacing their high cost diesel; first gas is expected in Q2 2021.

o
We are finalizing a framework agreement for a terminal in Southeast Asia that is expected to begin operations in 2H 2021.

Developing long-term fixed price LNG supply

o
Acquiring 50% of the common units of Golar Hilli LLC, the disponent owner of the 2.4 MTPA floating liquefier, Hilli, through the GMLP acquisition.

o
Announcing FID(3) on floating liquefaction solution (“Fast LNG”) that is expected to be Operational by end of 2022.

Significant volume growth – over 5.1 million GPD Committed(4) with over 15 million GPD of In Discussion Volumes(5)

Our Board of Directors approved a dividend of $0.10 per share, with a record date of March 26, 2021 and a payment date of March 31, 2021

Fast LNG

NFE announced that it has made a final investment decision (“FID”) on an innovative “Fast LNG” 1.4 million tonnes per annum capacity modular liquefaction facility to provide a low-cost supply of liquefied natural gas for its growing customer base. The “Fast LNG” design pairs the latest advancements in modular, midsize liquefaction technology with jack up rigs or similar floating infrastructure to enable a much lower cost and faster deployment schedule than today’s floating liquefaction vessels. A permanently moored FSU will serve as an LNG storage facility alongside the floating liquefaction infrastructure, which can be deployed anywhere there is abundant and stranded natural gas.
 

“Our innovative Fast LNG liquefiers should allow us to produce LNG between an expected $3-4 MMBtu for our growing portfolio of terminals around the world,” said NFE CEO and Chairman Wes Edens. “This technology can be installed quickly and cheaply to access stranded, low-cost natural gas at a fixed price to meet the global demand for more affordable, reliable and cleaner energy. Alongside our terrific partners, we look forward to deploying one of the world’s lowest-cost LNG production facilities by 2022.”

NFE has issued a limited notice to proceed to Fluor (NYSE:FLR), Chart Industries Inc. (NASDAQ:GTLS) and Baker Hughes Company (NYSE:BHGE) for the construction of the first “Fast LNG” project, which is anticipated to become Operational in an estimated 20 months.

Financial Highlights
   
For the three months ended,
 
   
September 30,
   
December 31,
 
(in millions, except Average Volumes)
 
2020
   
2020
 
Revenues
 
$
136.9
   
$
145.7
 
Net Loss
 
(36.7
)
 
(0.5
)
Operating Margin*
 
$
51.4
   
$
60.9
 
Average Volumes (k GPD)
   
1,535
     
1,410
 


Record quarterly revenue of $145.7 million, increasing $8.8 million from Q3 2020

Net loss was $0.5 million, as compared to the Q3 2020 net loss of $36.7 million

Operating Margin*(6) was over $60 million, representing 42% of revenue in Q4 2020, improving from 38% of revenue in Q3 2020

Average daily volumes sold in Q4 2020 were approximately 1.4 million GPD

In December 2020, issued $250.0 million of 6.75% senior secured notes, at a premium for net proceeds of $259 million

Issued 5,882,352 shares of Class A common stock and received proceeds of $290.8 million

*Operating Margin is a non-GAAP financial measure. For definitions and reconciliations of non-GAAP results please refer to the exhibit to this press release.
 

Please refer to our Q4 2020 Investor Presentation for further information about the following terms:

1) “Operational” with respect to a particular project means we expect gas to be made available within thirty (30) days, gas has been made available to the relevant project, or that the relevant project is in full commercial operations. Where gas is going to be made available or has been made available but full commercial operations have not yet begun, full commercial operations will occur later than, and may occur substantially later than, our reported Operational date. We cannot assure you if or when such projects will reach full commercial operations. Actual results could differ materially from the illustrations reflected in this presentation and there can be no assurance we will achieve our goals.
2) “In Development” or similar statuses means that we have taken steps and invested money to develop a facility, including procuring land rights and entitlements, negotiating or signing construction contracts, and undertaking active engineering, procurement and construction work. Our development projects are in various phases of progress, and there can be no assurance that we will continue progress on each development as we expect or that each development will be completed or enter full commercial operations. There can be no assurance that we will be able to enter into the contracts required for the development of these facilities on commercially favorable terms or at all. If we are unable to enter into favorable contracts or to obtain the necessary regulatory and land use approvals on favorable terms, we may not be able to construct and operate these assets as expected, or at all. Additionally, the construction of facilities is inherently subject to the risks of cost overruns and delays, and these risks of delay are exacerbated by the COVID-19 pandemic. If we are unable to construct, commission and operate all of our facilities as expected, or, when and if constructed, they do not accomplish our goals, or if we experience delays or cost overruns in construction, our business, operating results, cash flows and liquidity could be materially and adversely affected.
3) “FID” means management has made an internal commitment to commit resources (including capital) to a particular project. Our management has not made an FID decision on certain projects as of the date of this press release, and there can be no assurance that we will be willing or able to make any such decision, based on a particular project’s time, resource, capital and financing requirements.
4) “Committed” means our expected volumes to be sold to customers under binding contracts, awards under requests for proposals, and the agreement being finalized in for our project in Southeast Asia as of the period specified in the press release. There can be no assurance that we will enter into binding agreements for the awards we have under requests for proposals or our project in Southeast Asia on a particular timeline or at all. Some, but not all, of our contracts contain minimum volume commitments, and our expected volumes to be sold to customers reflected in our “Committed Volumes” are substantially in excess of such minimum volume commitments. Our near-term ability to sell these volumes is dependent on our customers’ continued willingness and ability to continue purchasing these volumes and to perform their obligations under their respective contracts. If any of our customers fails to continue to make such purchases or fails to perform its obligations under its contract, our operating results, cash flow and liquidity could be materially and adversely affected. References to Committed Volumes in the future and percentages of these volumes in the future should not be viewed as guidance or management’s view of the Company’s projected earnings, is not based on the Company’s historical operating results, which are limited, and does not purport to be an actual representation of our future economics.
5) “In Discussion” refers to potential customers (i) with whom we are in active negotiations, (ii) for whom there is a request for proposals or competitive bid process, or (iii) for whom we anticipate a request for proposals or competitive bid process will soon be announced based on our discussions with the potential customer as of date of this press release. We cannot assure you if or when we will enter into contracts for sales of additional volumes, the price at which we will be able to sell such volumes, or our costs to purchase, liquefy, deliver and sell such volumes. Some, but not all, of our contracts contain minimum volume commitments, and our expected sales to customers reflected in any volumes referenced is substantially in excess of potential minimum volume commitments. References to these volumes and percentages of these volumes should not be viewed as guidance or management’s view of the Company’s projected earnings, is not based on the Company’s historical operating results, which are limited, and does not purport to be an actual representation of our future economics.
6) “Operating Margin” means the sum of (i) Net income / (loss), (ii) Selling, general and administrative, (iii) Depreciation and amortization, (iv) Interest expense, (v) Other (income) expense, net (vi) Loss on extinguishment of debt, net, and (vii) Tax expense (benefit), each as reported on our financial statements. Operating Margin is mathematically equivalent to Revenue minus Cost of sales minus Operations and maintenance, each as reported in our financial statements.

Additional Information
For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Relations section of New Fortress Energy’s website, www.newfortressenergy.com, and the Company’s most recent Annual Report on Form 10-K, which will be available on the Company’s website. Nothing on our website is included or incorporated by reference herein.
 

Earnings Conference Call

Management will host a conference call on Tuesday, March 16, 2021 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing (866) 953-0778 (from within the U.S.) or (630) 652-5853 (from outside of the U.S.) fifteen minutes prior to the scheduled start of the call; please reference “NFE Fourth Quarter 2020 Earnings Call.”

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.newfortressenergy.com. Please allow extra time prior to the call to visit the website and download any necessary software required to listen to the internet broadcast.

A replay of the conference call will also be available after 11:00 A.M. on Tuesday, March 16, 2021 through 11:00 A.M. on Tuesday, March 23, 2021 at (855) 859-2056 (from within the U.S.) or (404) 537-3406 (from outside of the U.S.), Passcode: 2548857.

About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

Non-GAAP Financial Measure
Operating Margin is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to income/(loss) from operations, net income/(loss), cash flow from operating activities or any other measure of performance or liquidity derived in accordance with GAAP. We believe this non-GAAP financial measure, as we have defined it, provides a supplemental measure of financial performance of our current liquefaction, regasification and power generation operations. This measure excludes items that have little or no significance on day-to-day performance of our current liquefaction, regasification and power generation operations, including our corporate SG&A, contract termination charges and loss on mitigation sales, loss on extinguishment of debt, net, and other expense.

As Operating Margin measures our financial performance based on operational factors that management can impact in the short-term and provides an assessment of controllable expenses, items associated with our capital structure and beyond the control of management in the short-term, such as depreciation and amortization, taxation, and interest expense are excluded. As a result, this supplemental metric affords management the ability to make decisions to facilitate meeting current financial goals as well as to achieve optimal financial performance of our current liquefaction, regasification and power generation operations.

The principal limitation of this non-GAAP measure is that it excludes significant expenses and income that are required by GAAP to be recorded in our financial statements. A reconciliation is provided for the non-GAAP financial measure to our GAAP net income/(loss). Investors are encouraged to review the related GAAP financial measures and the reconciliation of the non-GAAP financial measure to our GAAP net income/(loss), and not to rely on any single financial measure to evaluate our business.
 

Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” including our expected volumes of LNG or production of power in particular jurisdictions; our expected volumes for Committed and In Discussion Volumes; the expectation that we will continue to take advantage of low LNG prices and develop our Fast LNG project for long-term LNG pricing; our expectations regarding our growth opportunities and the full capacity of our existing infrastructure, the key markets we may enter, and our expectations regarding our Fast LNG project, green hydrogen investment and pilot projects. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that our development, construction or commissioning schedules will take longer than we expect, the risk that the volumes we are able to sell are less than we expect due to decreased customer demand or our inability to supply, the risk that our expectations about the price at which we purchase LNG, the price at which we sell LNG, the cost at which we produce, ship and deliver LNG, and the margin that we receive for the LNG that we sell are not in line with our expectations, the risk that we may not develop our Fast LNG project on the timeline we expect or at all, or that we do not receive the benefits we expect from the Fast LNG project, risks that our operating or other costs will increase and our expected funding of projects may not be possible, the risk that the foregoing or other factors negatively impact our liquidity, the risk that our organic and inorganic growth opportunities do not materialize due to our inability to reach commercial arrangements on terms that are acceptable to us or at all, the risk that organic and inorganic growth opportunities do not offer the Operating Margin that we expect due to higher costs of LNG, higher costs of infrastructure for inorganic growth, competitive pressures on our pricing, or other factors, and the risk that our investment and pilot projects in green hydrogen do not advance NFE’s transition to zero emissions on the timeline we expect or at all. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in the Company’s annual and quarterly reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement.

IR:
Joshua Kane
(516) 268-7455
jkane@newfortressenergy.com

Media:
Jake Suski
(516) 268-7403
press@newfortressenergy.com

Exhibits – Financial Statements
 
New Fortress Energy Inc.
Consolidated Statements of Operations and Comprehensive Loss
For the three months ended September 30, 2020 and December 31, 2020
(in thousands of U.S. dollars, except share and per share amounts)

   
For the Three Months Ended
 
   
September 30,
2020
   
December 31,
2020
 
Revenues
           
Operating revenue
 
$
83,863
   
$
94,769
 
Other revenue
   
52,995
     
50,927
 
Total revenues
   
136,858
     
145,696
 
                 
Operating expenses
               
Cost of sales
   
71,665
     
68,987
 
Operations and maintenance
   
13,802
     
15,796
 
Selling, general and administrative
   
30,849
     
32,869
 
Depreciation and amortization
   
9,489
     
10,013
 
Total operating expenses
   
125,805
     
127,665
 
Operating income
   
11,053
     
18,031
 
Interest expense
   
19,813
     
14,822
 
Other expense, net
   
2,569
     
826
 
Loss on extinguishment of debt, net
   
23,505
     
-
 
Loss before taxes
   
(34,834
)
   
2,383
 
Tax expense
   
1,836
     
2,868
 
Net loss
   
(36,670
)
   
(485
)
Net loss attributable to non-controlling interest
   
312
     
655
 
Net (loss) income attributable to stockholders
 
$
(36,358
)
 
$
170
 
                 
Net (loss) income per share – basic and diluted
 
$
(0.21
)
 
$
0.00
 
                 
Weighted average number of shares outstanding – basic and diluted
   
170,074,532
     
170,855,679
 
                 
Other comprehensive loss:
               
Net loss
 
$
(36,670
)
 
$
(485
)
Unrealized (gain) on currency translation adjustment
   
(971
)
   
(883
)
Comprehensive (loss) income
   
(35,699
)
   
398
 
Comprehensive (income) attributable to non-controlling interest
   
(926
)
   
(131
)
Comprehensive (loss) income attributable to stockholders
 
$
(36,625
)
 
$
267
 


Non-GAAP Operating Margin
(Unaudited, in thousands of U.S. dollars)

We define non-GAAP operating margin as GAAP net loss, adjusted for selling, general and administrative expense, loss on mitigation sales, depreciation and amortization, interest expense, other expense (income), loss on extinguishment of debt, net and tax expense (benefit).

   
For the three months ended,
 
   
September 30, 2020
   
December 31, 2020
 
Net loss
 
$
(36,670
)
 
$
(485
)
Add:
               
Selling, general and administrative
   
30,849
     
32,869
 
Depreciation and amortization
   
9,489
     
10,013
 
Interest expense
   
19,813
     
14,822
 
Other expense, net
   
2,569
     
826
 
Loss on extinguishment of debt, net
   
23,505
     
-
 
Tax expense
   
1,836
     
2,868
 
Non-GAAP operating margin
 
$
51,391
   
$
60,913
 


New Fortress Energy Inc.
Consolidated Balance Sheets
As of December 31, 2020 and December 31, 2019
(in thousands of U.S. dollars, except share and per share amounts)

   
December 31,
2020
   
December 31,
2019
 
Assets
           
Current assets
           
Cash and cash equivalents
 
$
601,522
   
$
27,098
 
Restricted cash
   
12,814
     
30,966
 
Receivables, net of allowances of $98 and $0, respectively
   
76,544
     
49,890
 
Inventory
   
22,860
     
63,432
 
Prepaid expenses and other current assets, net
   
48,270
     
39,734
 
Total current assets
   
762,010
     
211,120
 
 
               
Restricted cash
   
15,000
     
34,971
 
Construction in progress
   
234,037
     
466,587
 
Property, plant and equipment, net
   
614,206
     
192,222
 
Right-of-use assets
   
141,347
     
-
 
Intangible assets, net
   
46,102
     
43,540
 
Finance leases, net
   
7,044
     
91,174
 
Deferred tax assets, net
   
2,315
     
34
 
Other non-current assets, net
   
86,030
     
84,166
 
Total assets
 
$
1,908,091
   
$
1,123,814
 
                 
Liabilities
               
Current liabilities
               
Accounts payable
 
$
21,331
   
$
11,593
 
Accrued liabilities
   
90,352
     
54,943
 
Current lease liabilities
   
35,481
     
-
 
Due to affiliates
   
8,980
     
10,252
 
Other current liabilities
   
35,006
     
25,475
 
Total current liabilities
   
191,150
     
102,263
 
 
               
Long-term debt
   
1,239,561
     
619,057
 
Non-current lease liabilities
   
84,323
     
-
 
Deferred tax liabilities, net
   
2,330
     
241
 
Other long-term liabilities
   
15,641
     
14,929
 
Total liabilities
   
1,533,005
     
736,490
 
                 
Commitments and contingencies
               
                 
Stockholders’ equity
               
Class A common stock, $0.01 par value, 750.0 million shares authorized, 174.6 million
issued and outstanding as of December 31, 2020
   
1,746
     
-
 
Class A shares, 0 shares issued and outstanding as of December 31, 2020; 23.6 million shares,
issued and outstanding as of December 31, 2019
   
-
     
130,658
 
Class B shares, 0 shares issued and outstanding as of December 31, 2020; 144.3 million
shares, issued and outstanding as of December 31, 2019
   
-
     
-
 
Additional paid-in capital
   
594,534
     
-
 
Accumulated deficit
   
(229,503
)
   
(45,823
)
Accumulated other comprehensive income (loss)
   
182
     
(30
)
Total stockholders' equity attributable to NFE
   
366,959
     
84,805
 
Non-controlling interest
   
8,127
     
302,519
 
Total stockholders' equity
   
375,086
     
387,324
 
Total liabilities and stockholders' equity
 
$
1,908,091
   
$
1,123,814
 


New Fortress Energy Inc.
Consolidated Statements of Operations and Comprehensive Loss
For the years ended December 31, 2020, 2019 and 2018
(in thousands of U.S. dollars, except share and per share amounts)

   
Year Ended December 31,
 
   
2020
   
2019
   
2018
 
Revenues
                 
Operating revenue
 
$
318,311
   
$
145,500
   
$
96,906
 
Other revenue
   
133,339
     
43,625
     
15,395
 
Total revenues
   
451,650
     
189,125
     
112,301
 
                         
Operating expenses
                       
Cost of sales
   
278,767
     
183,359
     
95,742
 
Operations and maintenance
   
47,581
     
26,899
     
9,589
 
Selling, general and administrative
   
124,170
     
152,922
     
62,137
 
Contract termination charges and loss on mitigation sales
   
124,114
     
5,280
     
-
 
Depreciation and amortization
   
32,376
     
7,940
     
3,321
 
Total operating expenses
   
607,008
     
376,400
     
170,789
 
Operating loss
   
(155,358
)
   
(187,275
)
   
(58,488
)
Interest expense
   
65,723
     
19,412
     
11,248
 
Other expense (income), net
   
5,005
     
(2,807
)
   
(784
)
Loss on extinguishment of debt, net
   
33,062
     
-
     
9,568
 
Loss before taxes
   
(259,148
)
   
(203,880
)
   
(78,520
)
Tax expense (benefit)
   
4,817
     
439
     
(338
)
Net loss
   
(263,965
)
   
(204,319
)
   
(78,182
)
Net loss attributable to non-controlling interest
   
81,818
     
170,510
     
106
 
Net loss attributable to stockholders
 
$
(182,147
)
 
$
(33,809
)
 
$
(78,076
)
                         
Net loss per share – basic and diluted
 
$
(1.71
)
 
$
(1.62
)
       
                         
Weighted average number of shares outstanding – basic and diluted
   
106,654,918
     
20,862,555
         
                         
Other comprehensive loss:
                       
Net loss
 
$
(263,965
)
 
$
(204,319
)
 
$
(78,182
)
Unrealized (gain) loss on currency translation adjustment
   
(2,005
)
   
219
     
-
 
Unrealized loss on available-for-sale investment
   
-
     
-
     
2,677
 
Comprehensive loss
   
(261,960
)
   
(204,538
)
   
(80,859
)
Comprehensive loss attributable to non-controlling interest
   
80,025
     
170,699
     
106
 
Comprehensive loss attributable to stockholders
 
$
(181,935
)
 
$
(33,839
)
 
$
(80,753
)


New Fortress Energy Inc.
Consolidated Statements of Cash Flows
For the years ended December 31, 2020, 2019 and 2018
(in thousands of U.S. dollars)

   
Year Ended December 31,
 
   
2020
   
2019
   
2018
 
Cash flows from operating activities
                 
Net loss
 
$
(263,965
)
 
$
(204,319
)
 
$
(78,182
)
Adjustments for:
                       
Amortization of deferred financing costs
   
10,519
     
5,873
     
4,023
 
Depreciation and amortization
   
33,303
     
8,641
     
4,034
 
Non-cash contract termination charges and loss on mitigation sales
   
19,114
     
2,622
     
-
 
Loss on extinguishment of debt and financing expenses
   
37,090
     
-
     
3,188
 
Deferred taxes
   
2,754
     
392
     
(345
)
Share-based compensation
   
8,743
     
41,205
     
-
 
Other
   
4,341
     
1,247
     
439
 
Changes in operating assets and liabilities:
                       
(Increase) in receivables
   
(26,795
)
   
(19,754
)
   
(9,516
)
Decrease (Increase) in inventories
   
23,230
     
(50,345
)
   
(4,807
)
(Increase) in other assets
   
(35,927
)
   
(39,344
)
   
(28,338
)
Decrease in right-of-use assets
   
41,452
     
-
     
-
 
Increase in accounts payable/accrued liabilities
   
55,514
     
3,036
     
12,232
 
(Decrease) Increase in amounts due to affiliates
   
(1,272
)
   
5,771
     
2,390
 
(Decrease) in lease liabilities
   
(42,094
)
   
-
     
-
 
Increase in other liabilities
   
8,427
     
10,714
     
1,655
 
Net cash used in operating activities
   
(125,566
)
   
(234,261
)
   
(93,227
)
                         
Cash flows from investing activities
                       
Capital expenditures
   
(156,995
)
   
(377,051
)
   
(181,151
)
Acquisition of consolidated subsidiary
   
-
     
-
     
(4,028
)
Other investing activities
   
(636
)
   
887
     
724
 
Net cash used in investing activities
   
(157,631
)
   
(376,164
)
   
(184,455
)
                         
Cash flows from financing activities
                       
Proceeds from borrowings of debt
   
2,095,269
     
347,856
     
280,600
 
Payment of deferred financing costs
   
(36,499
)
   
(8,259
)
   
(14,026
)
Repayment of debt
   
(1,490,002
)
   
(5,000
)
   
(76,520
)
Proceeds from IPO
   
-
     
274,948
     
-
 
Proceeds from issuance of Class A common stock
   
291,992
     
-
     
-
 
Payments related to tax withholdings for share-based compensation
   
(6,413
)
   
-
     
-
 
Payment of dividends
   
(33,742
)
   
-
     
-
 
Capital contributed from Members
   
-
     
-
     
20,150
 
Collection of subscription receivable
   
-
     
-
     
50,000
 
Payment of stock issuance costs
   
(1,107
)
   
(6,938
)
   
-
 
Net cash provided by financing activities
   
819,498
     
602,607
     
260,204
 
                         
Net increase (decrease) in cash, cash equivalents and restricted cash
   
536,301
     
(7,818
)
   
(17,478
)
Cash, cash equivalents and restricted cash – beginning of period
   
93,035
     
100,853
     
118,331
 
Cash, cash equivalents and restricted cash – end of period
 
$
629,336
   
$
93,035
   
$
100,853
 
                         
Supplemental disclosure of non-cash investing and financing activities:
                 
Changes in accounts payable and accrued liabilities associated with
construction in progress and property, plant and equipment additions
 
$
(12,786
)
 
$
(48,150
)
 
$
74,280
 
Cash paid for interest, net of capitalized interest
   
27,255
     
6,765
     
7,515
 
Cash paid for taxes
   
58
     
28
     
-
 




The following information was filed by New Fortress Energy Llc (NFE) on Tuesday, March 16, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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