Why Shares of New Fortress Energy Are Jumping Today
The S&P 500 and Dow Jones Industrial Average may both be lagging today, but shares of liquefied natural gas stock New Fortress Energy (NASDAQ: NFE) are headed in the other direction, thanks to a strong fourth-quarter 2021 earnings report that came out after the market closed yesterday. In addition to beating Wall Street's projections, New Fortress Energy reported that it achieved company records on several metrics during the previous quarter.
As of 11:34 a.m. ET, New Fortress Energy's stock has risen 15.1%.
Surpassing analysts' expectations that it would generate revenue of $483 million, New Fortress Energy reported $648.6 million on the top line -- a company record for quarterly revenue. Consider that the company reported sales of $304.7 million in Q3 2021 and $145.7 million in Q4 2020, and the company's recent performance becomes all the more impressive.
Source Fool.com
