New Fortress Energy reported a net loss of $197.4 million, or 73 cents per share, for the first quarter ended March 31, 2025, compared with a net income of $56.7 million, or 26 cents per share, a year earlier. The company's revenue came in at $470.5 million, missing estimates of $547 million and representing a 32% decline year-over-year. Adjusted EBITDA fell 76% year-over-year to $82.3 million. Despite a total cash balance of $827 million, including $448 million unrestricted, the firm faced weak performance across its segments. The earnings miss and disappointing results led to a nearly 19% drop in shares during extended trading, with the stock falling as much as 40% pre-market and ending after-hours down 30%. Market concerns also emerged regarding the company's debt and capital allocation priorities, prompting speculation about potential restructuring efforts. Notably, the company expects a FEMA claim resolution in the short term and reported a positive contribution from its Jamaica operations.