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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Total revenue $ 391,044 $ 193,419 $ 910,690 $ 576,865
Operating expenses        
Cost of LNG, gas and power (exclusive of items below) 201,885 41,399 403,071 112,451
Operating expenses 44,524 45,431 132,485 162,623
Depreciation and amortization 31,758 23,031 78,919 76,341
Selling, general and administrative expenses 23,439 23,819 66,334 70,671
Transition and transaction expenses 2,217 0 33,558 0
Total operating expenses 303,823 133,680 714,367 422,086
Operating Income 87,221 59,739 196,323 154,779
Other income (expense)        
Interest expense (24,899) (11,711) (56,640) (35,914)
Interest expense - related party (3,236) (3,411) (9,743) (10,290)
Earnings from equity method investment 497 562 1,693 1,685
Other income, net 3,398 6,525 15,837 17,189
Income before income taxes 62,981 51,704 147,470 127,449
Provision for income taxes (7,937) (6,158) (19,538) (20,486)
Net income 55,044 45,546 127,932 106,963
Less net income attributable to non-controlling interest 41,092 36,591 97,864 85,012
Net income attributable to shareholders $ 13,952 $ 8,955 $ 30,068 $ 21,951
Net income per common share - basic $ 0.44 $ 0.36 $ 1.03 $ 0.86
Net income per common share - diluted $ 0.43 $ 0.35 $ 1.01 $ 0.85
Weighted average shares outstanding - basic 32,001,766 25,009,326 29,160,140 25,447,088
Weighted average shares outstanding - diluted 32,692,679 25,468,541 29,882,647 25,710,434
Terminal services        
Revenues        
Total revenue $ 145,881 $ 150,139 $ 443,079 $ 458,120
LNG Gas and Power        
Revenues        
Total revenue $ 245,163 $ 43,280 $ 467,611 $ 118,745