Excelerate Energy Reports Strong Third Quarter 2023 Results; Raises Full Year Adjusted EBITDA Guidance
Net Income and Adjusted EBITDA increased sequentially from last quarter primarily due to higher margins earned on gas sales contracts in Brazil, lower vessel operating expenses, and inflation index adjustments on certain contracts.
- Net Income and Adjusted EBITDA increased sequentially from last quarter primarily due to higher margins earned on gas sales contracts in Brazil, lower vessel operating expenses, and inflation index adjustments on certain contracts.
- In October 2023, Excelerate signed a 10-year Time Charter Party agreement with Petrobras for the FSRU Sequoia.
- In November 2023, Excelerate signed a long-term LNG sale and purchase agreement with Petrobangla.
- The Company now expects Adjusted EBITDA to range between $340 million and $350 million.