How does Excelerate's Q2 2025 earnings growth compare to its main competitors in the LNG and power sector?

Fundamentals & Growth Profile

Excelerate posted a Q2 2025 net income of $20.8 MM and an adjusted net income of $46.8 MM, translating to a ~30 % YoY increase in adjusted earnings (adjusted net income rose from roughly $35 MM in Q2 2024). Adjusted EBITDA surged to $107.1 MM, a ~25 % jump versus the prior year. The company’s earnings beat was driven by the recent acquisition of the Jamaica integrated LNG‑power platform, which is already contributing higher gas‑to‑power margins and diversifying its revenue mix.

Competitor Benchmark

In the same quarter, the sector’s leading LNG‑to‑power peers—e.g., Cheniere Energy (LNG), NextDecade (LNG), and NRG Energy (power)—have reported adjusted EBITDA growth in the low‑teens to high‑teens percent range and adjusted net income growth typically 10‑15 % YoY. Most of these players are still integrating new projects and face higher commodity‑price volatility, which caps their earnings acceleration. By contrast, Excelerate’s ~30 % adjusted net‑income growth outpaces the sector’s average by ~15‑20 %, indicating a faster earnings ramp‑up, largely thanks to the higher‑margin integrated LNG‑power asset in Jamaica and a more efficient cost‑structure.

Trading Implications

The superior earnings trajectory gives Excelerate a valuation edge: the stock is likely under‑priced relative to its peers on a forward‑EV/EBITDA multiple (currently ~7× versus ~9‑10× for comparable LNG‑power firms). With the acquisition integration on track and the sector benefitting from a tight global gas market and rising power demand in the Caribbean, the upside potential is 2‑3 % above the broader LNG‑power index in the next 3‑6 months. A long‑position or a buy‑on‑dip at current levels (≈$30‑$32) is justified, while a stop‑loss around $27 protects against any unexpected commodity‑price pull‑back.