(Reuters) – U.S. LNG firm New Fortress Energy posted a loss in the first quarter on Wednesday, hurt by weak performance across both its segments of ships, and terminals and infrastructure, sending the shares down nearly 19% in extended trading.
At NFE’s terminals and infrastructure unit, operating margin declined 78.7% to $74.6 million during the quarter.
Operating margin at the ships segment fell to $31.4 million during the January-March period, from $34.2 million a year earlier.
The New York-based company reported a net loss of $197.4 million, or 73 cents per share in the quarter ended March 31, compared with a net income of $56.7 million, or 26 cents per share, a year earlier.
(Reporting by Pooja Menon in Bengaluru; Editing by Leroy Leo)
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