Wes Edens’ New Fortress Energy Sinks as Recovery Falls Flat (2)

New Fortress Energy Inc., the liquefied natural gas company run by billionaire Wes Edens, fell the most on record after reporting disappointing earnings in the latest blow for the embattled company.

The shares plunged 63% Thursday after the company said its adjusted earnings before interest, taxes, depreciation and amortization declined more than analysts expected in the first quarter, amid a heavy debt load and a narrow outlook for growth.

The bonds also fell, with New Fortress Energy’s 12% notes due 2029 plunging 27.74 cents on the dollar, to 37 cents, at 5:17 p.m. in New York, according to ...