NEW YORK - NextEra Energy (NYSE:NEE) Partners, LP (NYSE:NEP) reported third quarter earnings that fell short of analyst expectations, while also missing revenue estimates. Despite the disappointing results, the stock edged up 1% following the announcement.
The renewable energy company posted an adjusted loss per share of -$0.43, significantly below the analyst consensus estimate of $0.59 earnings per share. Revenue for the quarter came in at $319 million, missing the $328.04 million analysts had projected and representing a decline from the same period last year.
Despite the earnings miss, NextEra Energy Partners maintained its outlook for adjusted EBITDA. The company continues to expect its run-rate contribution for adjusted EBITDA from its forecasted portfolio at Dec. 31, 2024, to be in the range of $1.9 billion to $2.1 billion. This projection reflects expected calendar-year 2025 contributions from the forecasted portfolio at year-end 2024.
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