Excelerate Energy, Inc. Q4 FY2025 earnings call

Stephen Kobos introduced the company's global LNG and power infrastructure platform. 2025 was a strong year of execution with record adjusted EBITDA and over 99.9% enterprise-wide reliability. The Iraq project's Hull 3407 is progressing, and integrated terminal activities are underway. Jamaica platform integration was completed in Q4 2025, with plans for FSRU redeployment, conversion, and scalable LNG regasification solutions mentioned.

For the full year 2025, Accelerate Energy delivered record adjusted EBITDA of $449 million, an increase of about $100 million over the prior year. This performance was due to the Jamaica acquisition, growth in other LNG gas and power activities, and reduced operating expenses. In the fourth quarter, adjusted EBITDA was $113 million. The Jamaica LNG to power platform performed well in 2025, and the Iraq project had revised capital costs with Hull 3407 progressing.

Full year 2026 adjusted EBITDA guidance is $515 million to $545 million. Maintenance capex for 2026 is expected to be between $100 million to $110 million. Committed growth capital is expected to range from $370 million to $400 million, including payments for Hull 3407 and the Iraq terminal project.

No specific detailed operational failure risks discussed, but forward-looking statements involve risks and uncertainties that may cause actual results to differ materially.

Q: Ellie Johnson asked about organic growth and capital sanctioning, Stephen Kobos and Dan Armstrong responded.

Q: Teresa Chen asked about Jamaica's near-term optimization and growth options, Stephen Kobos and Oliver Simpson responded.

Q: Michael Skiala asked about capital spend cadence and India JV, responses were given.

Q: Chris Robertson asked about Exquisite FSRU redeployment and power side opportunities, responses were provided.

Q: Bobby Brooks asked about maintenance capex enhancements and SG&A, Dana responded.

Q: Emma Schwartz asked about LNG conversion candidates and small scale solutions, responses were given.

Q: Zach Van Everen asked about Iraq project details, responses were provided.

Q: Wade Suki asked about conversion and new build priorities, responses were given