Added to YB: 2026-03-20
Pitch date: 2026-03-18
NFE [neutral]
New Fortress Energy Inc.
-6.4%
current return
Author Info
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Company Info
New Fortress Energy Inc. operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide.
Market Cap
$199.9M
Pitch Price
$0.87
Price Target
N/A
Dividend
N/A
EV/EBITDA
21.96
P/E
-0.14
EV/Sales
5.37
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
New Fortress Debt Restructuring and the End of 2025's Pain Trade
NFE (exited position): Announced UK Restructuring Plan—splits into BrazilCo (private, terminals/power plants) & New NFE/CoreCo (public LNG-to-power). Legacy 6.5% 2026 & 8.75% 2029 notes ($748M) get $268M CoreCo preferred + 7% equity, no hard debt/BrazilCo exposure. Recovery est 20-35¢ on dollar vs 30-50¢ for 12% 2029 New Notes. Mgmt projects $410-415M 2027 EBITDA but history of missed targets warrants 25-30% haircut. Exiting on execution risk, PIK coupons, no Brazil asset exposure.
Read full article (4 min)