Excelerate Energy, Inc. is a worldwide supplier of versatile liquefied natural gas (LNG) solutions. The company's services are extensive, encompassing floating regasification, ...
Excelerate Energy, Inc. is a global leader in LNG infrastructure and services, dedicated to making cleaner, more affordable, and reliable energy accessible. The company's core business revolves around the provision of floating storage and regasification units (FSRUs), which are pivotal in delivering regasified natural gas to markets lacking onshore infrastructure. ...Excelerate Energy, Inc. is a global leader in LNG infrastructure and services, dedicated to making cleaner, more affordable, and reliable energy accessible. The company's core business revolves around the provision of floating storage and regasification units (FSRUs), which are pivotal in delivering regasified natural gas to markets lacking onshore infrastructure. Excelerate offers a comprehensive suite of services: it develops and operates LNG import terminals, procures and trades LNG, transports natural gas, and supplies gas for power generation projects. A notable asset is an LNG terminal in Bahia, Brazil, operated under a long-term lease. The company was founded in 2003 by George B. Kaiser and is publicly traded on the NYSE under the symbol EE, with 919 employees. Under CEO Steven Kobos, who has led since 2018, Excelerate has brought fleet management in-house via its subsidiary Excelerate Technical Management, enhancing operational reliability. Financially, the company has a market cap of ~$4 billion, with revenue per share of $46.37 and a net profit margin of 3.2%. It maintains a strong gross profit margin of 37% and an EBITDA margin of 33%, reflecting effective cost management. The company's BOM (build-operate-maintain) model underpins its long-term contracts, providing stable cash flows. With a focus on innovation and expansion, Excelerate continues to develop new projects and partnerships, aiming to capitalize on the global transition to cleaner energy. Its leadership team, including Executive Vice President Oliver Simpson, supports strategic growth, while the company's commitment to safety, reliability, and sustainability positions it well in the evolving energy landscape.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$1.2B
+44.3%
-24.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$39.2M
+19.2%
-2.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+32.2%
-32.8%
+140.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+24.5%
-3.0%
+29.9%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+3.2%
-17.4%
+29.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$277.0M
+111.2%
-425.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+22.6%
+46.4%
-528.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
209.7%
+46.7%
-0.8%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.43x
-30.4%
-30.7%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello, everyone. Thank you for joining us, and welcome to the Excelerate Energy Second Quarter 2026 Earnings Conference Call. [Operator Instructions] I will now hand the conference call over to Craig Hicks, Vice President, Investor Relations and Strategy. Craig, please go ahead.
Craig Hicks: Good morning, and thank you for joining Excelerate Energy's Second Quarter 2026 Earnings Call. Joining me today are Steven Kobos, President and CEO, and Dana Armstrong, Chief Financial Officer. Also joining the call are Oliver Simpson, Chief Commercial Officer, and David Liner, Chief Operating Officer. Our second quarter earnings press release and presentation were published yesterday afternoon and are available on our website at ir.excelerateenergy.com. Before we begin, please note that today's discussion will include forward-looking statements, which involve risks and uncertainties that may cause actual results to differ materially. We undertake no obligation to update these statements. We'll also reference certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP measures can be found at the end of the presentation. With that, it is my pleasure to pass the call over to Steven Kobos.
Steven Kobos: Good morning, everyone, and thank you for joining us. This was a strong quarter for Excelerate, both financially and operationally. We delivered $120.1 million of adjusted EBITDA and advanced a number of commercial opportunities that support our growth outlook for the years ahead. Before I get into the quarter, let me start with what drives this business. We connect global LNG supply to the markets that need it most, and we own and operate an energy infrastructure portfolio that turns imported LNG into reliable, affordable energy. The backdrop for that work has never been stronger. An unprecedented wave of new LNG supply will come online by the end of this decade. That creates a significant opportunity for the downstream infrastructure required to connect that supply with the countries and customers who depend on it. That is precisely what we provide. As the operator of the largest portfolio of floating regasification terminals in the world, Excelerate is well positioned to take advantage of these macro tailwinds. What sets us apart is how we create value from that portfolio. We redeploy and optimize the assets we already own to drive incremental growth, and we invest selectively where we can add stable contracted cash flow. This quarter is a good example of that discipline at work. So let's get into the updates on the progress we have made. The Excelerate Acadia, our newest floating regas terminal, is an example of how we create value from the infrastructure within our portfolio. The Acadia was delivered in April on budget and ahead of schedule. While it was originally planned for deployment to Iraq this summer, after the onset of the Middle East conflict, we moved quickly to find an interim deployment for the asset. In …
