New Fortress issued a press release on May 14, 2025, reporting its financial results for the first quarter of 2025. New Fortress disclosed weak performance across its business segments. Among other items, New Fortress reported total revenue of $470.5 million, compared to $690.3 million for the same period in 2024, as well as a net loss of $197.4 million, or $0.73 per share, compared to net income of $56.7 million, or $0.26 per share for the same period in 2024.
Following this news, New Fortress's stock price fell over 62% on May 15, 2025.
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