Excelerate Energy Inc (EE)EE

Excelerate Energy Inc. (EE): A Comprehensive Overview

Company Profile:

Detailed History and Background:

Excelerate Energy Inc. (EE) was founded in 2003 as a spin-off from El Paso Corporation. The company originally focused on midstream natural gas operations. In 2007, EE shifted its focus to floating storage and regasification units (FSRUs) and became a leader in providing regasification services globally.

Core Business Areas:

• FSRUs: EE owns and operates FSRUs, which are specialized vessels that can convert liquefied natural gas (LNG) back into its gaseous state. They then provide this gas to end-users through pipelines or directly to ships.
• LNG Marketing and Services: EE also markets and sells LNG to customers worldwide. The company has a global network of terminals and partnerships that allow it to provide reliable and efficient LNG deliveries.
• Engineering and Construction: EE designs, constructs, and installs FSRU terminals and related infrastructure. This expertise allows the company to offer turnkey solutions for its clients.

Leadership Team and Corporate Structure:

• Steven Kobos: CEO and President. Kobos has over 30 years of experience in the energy industry.
• Andrew Smith: Executive Vice President and Chief Financial Officer. Smith has over 20 years of experience in finance and accounting.
• The Board of Directors: Comprised of ten members with extensive experience in various sectors, including energy, finance, and law.

Top Products and Market Share:

Top Products:

• FSRUs: EE's core product is its FSRUs. The company owns and operates a fleet of 18 FSRUs, with a combined capacity of over 480 million cubic feet per day (MMcf/d).
• LNG Marketing and Services: EE also markets and sells LNG to customers worldwide. The company has a global network of terminals and partnerships that allow it to deliver approximately 85 million tons of LNG annually.

Market Share:

• FSRUs: EE is the global market leader in FSRUs, with a market share of approximately 50%.
• LNG Marketing and Services: EE is a significant player in the global LNG market, with a market share of approximately 5%.

Product Performance and Market Reception:

• FSRUs: EE's FSRUs are highly utilized, with the company achieving utilization rates of over 90%. This demonstrates the strong demand for EE's regasification services.
• LNG Marketing and Services: EE's LNG marketing and services business is also performing well, with the company selling record volumes of LNG in recent years.

Total Addressable Market:

The total addressable market for EE's products and services is significant, as the global demand for LNG is expected to double by 2030. This growth is driven by factors such as the increasing demand for cleaner energy sources and the rising popularity of LNG as a transportation fuel.

Financial Performance:

Recent Financial Statements:

• Revenue: EE's revenue has grown steadily in recent years, reaching $3.9 billion in 2022.
• Net Income: EE's net income has also grown consistently, reaching $481 million in 2022.
• Profit Margins: EE's profit margins are healthy, with gross margins of approximately 60% and operating margins of approximately 15%.
• Earnings per share (EPS): EE's EPS has grown from $1.74 in 2021 to $2.17 in 2022.

Year-over-Year Performance:

• EE's revenue has grown by approximately 15% year-over-year.
• EE's net income has grown by approximately 30% year-over-year.
• EE's EPS has grown by approximately 25% year-over-year.

Cash Flow and Balance Sheet Health:

• EE has strong cash flow, generating $431 million in cash from operations in 2022.
• EE has a healthy balance sheet, with total assets of $7.7 billion and total debt of $4.6 billion.

Dividends and Shareholder Returns:

Dividend History:

• EE has a strong dividend history, having paid dividends consistently since 2013.
• The current annual dividend is $1.84 per share, which represents a dividend yield of approximately 4%.
• EE's dividend payout ratio is approximately 40%, which indicates that the company has room to increase its dividend in the future.

Shareholder Returns:

• Over the past year, EE's stock has increased by approximately 20%.
• Over the past five years, EE's stock has increased by approximately 100%.
• Over the past ten years, EE's stock has increased by approximately 500%.

Growth Trajectory:

Historical Growth:

• EE has experienced strong historical growth, with revenue and earnings both growing at a compounded annual growth rate (CAGR) of approximately 15% over the past five years.

Future Growth Projections:

• Analysts expect EE to continue to grow at a healthy pace, with revenue and earnings projected to grow at a CAGR of approximately 10% over the next five years.
• This growth