NextEra Energy Partners Tops Q2 EPS

Published 22/07/2022, 12:48

NextEra Energy (NYSE:NEE) Partners (NEP) reported Q2 EPS of $2.61, $2.12 better than the analyst estimate of $0.49. Revenue for the quarter came in at $362 million versus the consensus estimate of $372.89 million.

GUIDANCE:

NextEra Energy Partners' run-rate adjusted EBITDA and CAFD expectations for the forecasted portfolio at year-end 2022, which were increased last month at the investor conference, remain unchanged. NextEra Energy Partners continues to expect year-end 2022 run-rate adjusted EBITDA and CAFD in the ranges of $1.785 billion to $1.985 billion and $685 million to $775 million, respectively, reflecting calendar year 2023 contributions from the forecasted portfolio at the end of 2022.

From a base of its fourth quarter 2021 distribution per common unit at an annualized rate of $2.83, NextEra Energy Partners continues to expect 12% to 15% growth per year in limited partner distributions per unit as being a reasonable range of expectations through at least 2025, subject to the usual caveats. NextEra Energy Partners expects the annualized rate of the fourth-quarter 2022 distribution that is payable in February of 2023 to be in a range of $3.17 to $3.25 per common unit.

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