BTCC
/
BTCC Square
/
Global Cryptocurrency
/
New Fortress Energy Stock Plummets on Delayed 10-Q Filing and Revenue Decline
New Fortress Energy Stock Plummets on Delayed 10-Q Filing and Revenue Decline
20
1
BTCCSquare news:
New Fortress Energy (NFE) shares tumbled as much as 10.3% during Tuesday's trading session after the company disclosed a delay in filing its quarterly 10-Q report with the SEC. The energy infrastructure firm cited ongoing negotiations for credit support on a debt instrument as the primary reason for the postponement, noting these discussions could materially impact its long-term debt reporting.
Preliminary data reveals significant revenue declines in terminal operations for both Q2 and the first half of 2024 compared to prior-year periods. The company attributes this downturn to the discontinuation of a major power project, compounding investor concerns about its financial transparency and operational stability.
By:
