Excelerate Energy Q2 Earnings Call Highlights

Excelerate Energy raised its 2026 outlook, reporting $50 million in second-quarter net income and $120 million in adjusted EBITDA. Full-year adjusted EBITDA guidance increased to $490 million–$515 million. The company advanced several LNG infrastructure projects: the Excelerate Acadia began operations in Jordan, the FSR Express is scheduled for Colombia in early 2027, and the Iraq terminal is now expected to start operations in the second quarter of 2027. Excelerate is moving forward with its first FSRU conversion after agreeing to purchase the Methane Patricia Camila for about $79 million. The company also raised growth-capital guidance, increased its quarterly dividend by roughly 13% to $0.09 per share, and repurchased approximately 693,000 shares. Excelerate Energy NYSE: EE reported second-quarter 2026 net income of $50 million and adjusted EBITDA of $120 million, as the company advanced LNG infrastructure projects in Jordan, Colombia, Iraq and the Caribbean. Adjusted EBITDA was roughly modestly lower than the first quarter but increased 12% from the year-earlier period, primarily reflecting a full-quarter contribution from the company’s Jamaica platform, Chief Financial Officer Dana Armstrong said. The company raised and narrowed its full-year adjusted EBITDA outlook to $490 million to $515 million. President and CEO Steven Kobos said the company sees a favorable long-term market backdrop as new global LNG supply comes online and requires downstream infrastructure to reach importing markets. Excelerate operates floating storage and regasification units, or FSRUs, and is pursuing both vessel charter opportunities and more integrated projects involving LNG supply and downstream infrastructure. Excelerate’s newest floating regasification terminal, the Excelerate Acadia, was delivered in April ahead of schedule and on budget, Kobos said. The vessel had originally been intended for deployment in Iraq during the summer, but the company arranged an interim assignment after the onset of conflict in the Middle East. In May, Excelerate signed a nine-month charter with Jordan’s National Electric Power Company to deploy the Acadia at the existing LNG import terminal in Aqaba. Operations started in July, and the charter is expected to contribute about $20 million of EBITDA in 2026, according to Kobos. The company also signed a long-term agreement in June with a subsidiary of Frontera Energy Corp. to redeploy the FSR Express to an LNG import terminal being developed on Colombia’s Caribbean coast. The agreement carries an initial seven-year term and multiple extension options. After its current charter and a planned dry dock later in 2026, the Express is expected to begin Colombian operations in early 2027. Kobos said the new contract is expected to raise the vessel’s annual EBITDA contribution by about 35% compared with its current contract. Excelerate continues to develop Iraq’s first LNG import terminal under an agreement executed in October 2025 with a subsidiary of the country’s Ministry of Electricity. The project includes a five-year agreement for regasification services and LNG supply, extension options, and minimum contracted offtake of 250 million standard cubic feet per day. The company said it has continued engineering, procurement, site clearance and dredging work while adapting project plans to regional conditions. Materials for the terminal have been staged globally and are being mobilized according to construction priorities. Excelerate now expec...