Filing Flows › New Fortress Energy (NFE) › Q3 2025
New Fortress Energy (NFE) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 21, 2025
New Fortress Energy (NFE) reported revenue of $332M for the third quarter 2025 (Q3 2025), -42% from a year earlier and +9% from the quarter before. Operating margin was -31.2%, net loss $293M (88.4% of revenue).
New Fortress Energy, Q3 2025: revenue $332M (-42% year over year), operating margin -31.2%, net loss $293M, operating cash flow −$191M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $332M | +9% | -42% |
| Operating profit | −$104M | — | — |
| Net earnings | −$293M | — | — |
| Operating cash flow | −$191M | — | — |
What changed
Revenue was $331.9M in Q3 2025, down 42% year over year and up 9% from the previous quarter.
Operating costs exceeded revenue by $103.6M, an operating margin of -31.2%. Total costs fell 11% while revenue fell 42%. The fastest-growing cost line was Other operating costs (+85%). The quarter ended with a net loss of $293.4M, narrower than the previous quarter's $546.5M loss. Net interest and other expense of $181.5M was the main reason.
Operating cash flow was −$191.0M. Non-cash charges added back $57.7M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $39.1M. Capital expenditures of $105.7M exceeded it, leaving free cash flow of −$296.7M.
Questions
What was New Fortress Energy's revenue in the third quarter 2025?
New Fortress Energy (NFE) reported revenue of $332M for the third quarter 2025 (Q3 2025), -42% from a year earlier and +9% from the quarter before.
Was New Fortress Energy profitable in the third quarter 2025?
Operating loss was $104M (-31.2% of revenue) and net loss $293M.