NextEra Energy Partners (NEP) Reports Q1 EPS of $0.22; Raises Qtr Distribution

NextEra Energy Partners (NYSE: NEP) reported Q1 EPS of $0.22, versus $0.14 reported last year. Revenue for the quarter came in at $175 million, versus $171 million reported last year.

• Grows distribution by 15 percent year-over-year, announcing a quarterly distribution increase to $0.3650 per common unit
• Announces agreement to acquire an approximately 250-megawatt wind energy center from NextEra Energy Resources
• Delivers first-quarter financial results in-line with management's expectations

"NextEra Energy Partners is off to a good start in 2017, with portfolio additions over the last year driving growth in adjusted EBITDA during the quarter," said Jim Robo, chairman and chief executive officer. "We continue to execute on growth initiatives to expand the partnership's portfolio and today are announcing an agreement with NextEra Energy Resources to acquire the Golden West Wind Energy Center. This acquisition is being financed entirely with debt, demonstrating our continued financing flexibility. We continue to view the drop-down visibility and pipeline of growth opportunities that our sponsor provides as being a significant part of the NextEra Energy Partners value proposition. We remain intensely focused on executing throughout the remainder of the year on our growth opportunities for the benefit of our unitholders."

For earnings history and earnings-related data on NextEra Energy Partners (NEP) click here.

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