04:42 PM EDT, 05/14/2025 (MT Newswires) -- New Fortress Energy ( NFE ) reported a Q1 loss late Wednesday of $0.73 per diluted share, swinging from earnings of $0.26 a year earlier.

Three analysts polled by FactSet expected a loss of $0.25.

Revenue for the quarter ended March 31 was $470.5 million, down from $690.3 million a year earlier.

Four analysts surveyed by FactSet expected $575.3 million.

The company said it closed the sale of its assets in Jamaica to Excelerate Energy ( EE ) for $1.06 billion. The deal involves New Fortress Energy's ( NFE ) liquefied natural gas import terminal, an offshore floating storage and regasification terminal, and a heat and power plant.

The company plans to use the proceeds to repay existing debt and for general corporate purposes.

Shares of the company plunged nearly 25% in after-hours activity.

Price: 5.10, Change: -1.68, Percent Change: -24.79