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JUNO BEACH, Fla. - NextEra Energy Partners, LP (NYSE:NEP) shares tumbled 22% after the renewable energy company reported a wider-than-expected loss for the fourth quarter of 2024. The significant stock decline reflects investors' disappointment with the company's financial performance.
NextEra Energy Partners posted a fourth quarter loss of $1.08 per share, falling far short of analysts' expectations for a profit of $0.71 per share. The $1.79 per share miss represents a substantial earnings disappointment for the company. Revenue for the quarter came in at $294 million, slightly above the consensus estimate of $288.59 million and up from $266 million in the same quarter last year.
The company's parent, NextEra Energy, Inc. (NYSE:NEE), reaffirmed its long-term financial outlook following the earnings release. NextEra Energy continues to expect adjusted earnings per share of $3.45 to $3.70 for 2025, $3.63 to $4.00 for 2026, and $3.85 to $4.32 for 2027.
NextEra Energy reiterated its plans for $5 billion to $7 billion in equity units and $5 billion to $6 billion in asset recycling from 2024 to 2027. The company's reaffirmation of guidance suggests management believes the fourth quarter setback is temporary rather than indicative of a longer-term trend.
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