NextEra Energy Partners (NEP) Tops Q3 EPS by 3c

NextEra Energy Partners (NYSE: NEP) reported Q3 EPS of $0.57, $0.03 better than the analyst estimate of $0.54. Revenue for the quarter came in at $367 million versus the consensus estimate of $414.28 million.

Outlook

For 2023, the partnership currently expects the annualized rate of the fourth-quarter 2023 distribution that is payable in February of 2024 to be $3.52 per common unit.

NextEra Energy Partners expects run-rate contributions for adjusted EBITDA and CAFD from its forecasted portfolio at Dec. 31, 2023, to be in the ranges of $1.9 billion to $2.1 billion and $730 million to $820 million, respectively. Year-end 2023 run-rate projections reflect calendar-year 2024 contributions from the forecasted portfolio at year-end 2023.

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

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