Arizona Tribune - Stabilis Solutions Announces Fourth Quarter and Full Year 2024 Results

FOURTH QUARTER 2024 HIGHLIGHTS

• Net income of $2.1 million

• Adjusted EBITDA of $4.0 million

• Adjusted EBITDA margin of 23.2%

• Cash flow from operations of $2.2 million

• $9.0 million of cash and $4.3 million of availability under credit agreements as of December 31, 2024

FULL-YEAR 2024 HIGHLIGHTS

• Net income of $4.6 million

• Adjusted EBITDA of $11.8 million

• Adjusted EBITDA margin of 16.1%

• Cash flow from operations of $13.7 million

MANAGEMENT COMMENTARY

"Our fourth-quarter results marked the culmination of a strong year for Stabilis, a performance highlighted by year-over-year margin expansion, increased cash generation, and improved profitability," stated Casey Crenshaw, Executive Chairman and Interim President & Chief Executive Officer. ""Over the past year, we prioritized asset optimization and system efficiency, strengthening our position to accelerate growth with incremental contracts and customers."

"At a strategic level, we've continued to expand our small-scale LNG solutions platform to support both legacy and growth markets," continued Crenshaw. "In 2024, more than 80% of our capital expenditures were directed toward growth investments designed to further enhance our manufacturing and logistics capabilities as we ramp to support further commercial expansion in the years ahead. As always, we continue to foster a culture of safety, reliability, and performance excellence across the organization."

"Operating cash flow more than doubled on a year-over-year basis in 2024, driven by improved utilization of our Texas LNG liquefaction facility, and revenue growth within our aerospace and marine markets," stated Andy Puhala, Chief Financial Officer. "At year-end, we had $13.3 million in cash and availability under our credit agreements and remain well capitalized to support the business entering 2025 and we are actively engaged with potential debt and project financing partners for strategic, growth capital needs."

"Stabilis is in the early innings of an exciting, multi-year value creation journey," concluded Crenshaw. "Looking ahead, we intend to build upon over a decade of LNG experience and success as we capitalize on increased demand for LNG solutions across our diverse end markets."

STRATEGIC AND OPERATIONAL UPDATE

• Deploying capital toward growth-oriented investments. During 2024, the Company invested $7.4 million in growth capital, representing more than 80% of its total capital investment for the year. The Company's growth investments continue to focus on expanding capabilities, including in support of growth opportunities in both the Marine and Aerospace end-markets.

FOURTH QUARTER AND FULL YEAR 2024 CONFERENCE CALL AND WEBCAST

Stabilis will host a conference call on Wednesday February 26, 2025, at 9:00 am ET to review the Company's financial results, discuss recent events and conduct a question-and-answer session.

A webcast of the conference call will be available in the Investor Relations section of the Company's corporate website at https://investors.stabilis-solutions.com/events. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.

To participate in the live teleconference:

Domestic Live: 800-267-6316
International Live: 203-518-9783
Conference ID: SLNGQ424

To listen to a replay of the teleconference, which will be available through March 5, 2025:

Domestic Live: 800-839-0861
International Live: 402-220-0661

ABOUT STABILIS SOLUTIONS

Stabilis Solutions is a leading provider of clean fueling, production, storage, and last mile delivery solutions for many of the world's most recognized, high-performance brands. To learn more, visit www.stabilis-solutions.com.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "can," "believes," "feels," "anticipates," "expects," "could," "will," "plan," "may," "should," "predicts," "potential" and similar expressions are intended to identify such forward-looking statements.

Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information currently available. Most of these factors are outside our control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.

The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in the Risk Factors in Item 1A of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 25, 2025 which is available on the SEC's website at www.sec.gov or on the Investors section of our website at www.stabilis-solutions.com. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Stabilis does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Stabilis Solutions, Inc. and Subsidiaries
Selected Consolidated Operating Results
(Unaudited, in thousands, except per share data)

Stabilis Solutions, Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited, in thousands, except share and per share data)

Stabilis Solutions, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(Unaudited, in thousands)

Non-GAAP Measures

Our management uses EBITDA and Adjusted EBITDA to assess the performance and operating results of our business. EBITDA is defined as Earnings from continuing operations before Interest (includes interest income and interest expense), Taxes, Depreciation and Amortization. Adjusted EBITDA is defined as EBITDA further adjusted for certain special items that occur during the reporting period, as noted below. We include EBITDA and adjusted EBITDA to provide investors with a supplemental measure of our operating performance. Neither EBITDA nor Adjusted EBITDA is a recognized term under generally accepted accounting principles in the United States of America ("GAAP"). Accordingly, they should not be used as an indicator of, or an alternative to, net income as a measure of operating performance. In addition, EBITDA and Adjusted EBITDA are not intended to be measures of free cash flow available for management's discretionary use, as they do not consider certain cash requirements, such as debt service requirements. Because the definition of EBITDA and Adjusted EBITDA may vary among companies and industries, it may not be comparable to other similarly titled measures used by other companies. The following table provides a reconciliation of net income, the most directly comparable GAAP measure, to EBITDA and Adjusted EBITDA (in thousands).

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Investor Contact:

Andrew Puhala
Chief Financial Officer
832-456-6502
[email protected]

SOURCE: Stabilis Solutions

View the original press release on ACCESS Newswire

D.Johnson--AT