March 3 (Reuters) - U.S. LNG firm New Fortress Energy ( NFE )

posted a loss in the fourth quarter on Monday, hurt by

weaker performance in its ships as well as terminals and

infrastructure segments.

LNG exports in the U.S. rose in 2024, reaching near-record

levels in December. But lower LNG export prices combined with

higher costs squeezed margins for companies such as New

Fortress.

LNG export prices averaged $6.26 per thousand cubic feet

(Mcf) in January to November of 2024, down about 18% from 2023,

data from Energy Information Administration showed.

At NFE's terminals and infrastructure unit, operating margin

declined 44.8% to $206.1 million during the quarter.

Operating margin at the ships segment fell to $34.1 million

during the October-December period, from $54.2 million a year

earlier.

The company's total revenue fell to $679 million in the

fourth quarter from $758.4 million a year earlier.

NFE reported net loss of $224 million, or $1.11 per share,

in the three months ended December 31, compared with a net

income of $214.9 million, or $1.06 per share, a year earlier.

However, the company posted an adjusted profit of 13 cents

per share in the fourth quarter, compared with a mean

expectation of five analysts for earnings of 4 cents per share

according to data compiled by LSEG.

NFE also announced a one-year extension to its 80 trillion

British thermal unit (TBtu) islandwide gas supply contract with

the Puerto Rico Electric Power Authority.

In addition, the 10-year operation and maintenance agreement

between Genera, which is a subsidiary of NFE, and PREPA will be

modified to eliminate future incentive payments in exchange for

a $110 million payment.