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published in Blogs
Oct 31, 2022
NextEra Energy Partners (NEP, $74.69) tops Q3 earnings expectations

NextEra Energy Partners (NEP, $74.69) tops Q3 earnings expectations

NextEra Energy Partners reported its third-quarter operating earnings per unit of 93 cents, beating Zacks Consensus Estimate of 63 cents.

Operating revenues were up +19.8% from the year-ago quarter to of $302 million on the back of new projects. However, it was below the Zacks Consensus Estimate of $415 million.

NextEra board of directors announced a quarterly distribution of 78.25 cents per unit. The cash distribution per common unit was hiked almost 15% on an annualized basis from the year-ago quarter, and the distribution will be payable on Nov 14, 2022 to unitholders of record as of Nov 4, 2022.

The company reaffirmed its 2022 EBITDA forecast in the range of $1.785-$1.985 billion. For, 2023 it is expecting adjusted EBITDA in a range of $2.22 billion to $2.42 billion.

 

Related Tickers: NEP