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XPLR Infrastructure, LP (NYSE:XIFR), a company specializing in electric services trading at significant discount to its Fair Value according to InvestingPro analysis, announced the results of its 2025 Annual Meeting of Unitholders held on Tuesday. The company, which maintains a substantial 43% dividend yield and is scheduled to report earnings on April 29, has seen its stock decline 68% over the past year. At the meeting, unitholders voted on several key proposals, including the election of board directors and the ratification of the company’s independent auditor.
The unitholders elected all four of XPLR’s director nominees with a majority of votes cast. Susan D. Austin received 85.9% approval, Robert J. Byrne 86.1%, John W. Ketchum 66.4%, and Peter H. Kind 86.5%. Notably, without the voting limitations described in the company’s proxy statement, each nominee would have received over 90% approval. Despite trading at just 0.25 times book value, InvestingPro analysis reveals 14 additional key insights about XPLR’s valuation and prospects.
Additionally, the appointment of Deloitte & Touche LLP as XPLR’s independent registered public accounting firm for the year 2025 was ratified with 98.1% of the votes cast in favor.
The company also sought advisory approval on the compensation of its named executive officers. This proposal passed with 90.8% of votes cast in support.
Overall, the meeting’s outcomes indicate strong unitholder support for the company’s governance and executive compensation practices. These results are based on information provided in a press release statement.
In other recent news, XPLR Infrastructure reported its fourth-quarter 2024 earnings, revealing a significant miss on earnings per share (EPS) expectations. The company posted an EPS of -$1.08, which was well below the forecasted $0.71, while revenue slightly exceeded expectations at $294 million against a forecast of $288.59 million. In a strategic move, XPLR Infrastructure announced a $1.4 billion notes offering to fund various capital expenditures and debt repayments. Additionally, the company is undergoing significant leadership changes, with Rebecca Kujawa retiring from the Board of Directors and James M. May resigning as Controller. William J. Gough and Michael H. Dunne have been appointed to fill these roles. Jefferies analysts have also been active in updating their outlook on the company, initially cutting the price target to $12 due to increased interest expenses and later raising it to $13, maintaining a Buy rating. These updates reflect ongoing adjustments in the company’s financial strategies and market conditions.
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