NYSE$XIFR
XPLR Infrastructure LP · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
Reported strong first-quarter results driven by portfolio acquisitions and existing operations, achieving significant growth in distributions and CAFD.
NextEra Energy Partners reported a net income of $202 million for the first quarter of 2021. The company's adjusted EBITDA grew by 20% and CAFD increased by 36% compared to the prior-year quarter. They also anticipate year-end 2021 run-rate expectations for adjusted EBITDA and CAFD to be in the upper end of its previously announced ranges.
- Grew distributions approximately 15% year-over-year.
- Achieved cash available for distribution growth of 36% versus prior-year comparable quarter.
- Announced an agreement to acquire an approximately 400-megawatt portfolio of long-term contracted wind assets.
- Anticipates year-end 2021 run-rate expectations for adjusted EBITDA and CAFD to be in the upper end of its previously announced ranges.
Headline financials
Revenue & EPS history
NextEra Energy Partners · Revenue · Quarterly
$246M
Forward guidance
NextEra Energy Partners expects a Dec. 31, 2021, run rate for adjusted EBITDA in the upper end of its previously announced range of $1.44 billion to $1.62 billion and CAFD in the upper end of its previously announced range of $600 million to $680 million, reflecting calendar year 2022 expectations for the portfolio at year-end 2021. From a base of its fourth-quarter 2020 distribution per common unit at an annualized rate of $2.46 per common unit, NextEra Energy Partners continues to expect 12% to 15% per year growth in limited partner distributions as being a reasonable range of expectations through at least 2024. NextEra Energy Partners expects the annualized rate of the fourth-quarter 2021 distribution, which is payable in February 2022, to be in a range of $2.76 to $2.83 per common unit.
Tailwinds
- Adjusted EBITDA to be in the upper end of its previously announced range of $1.44 billion to $1.62 billion.
- CAFD to be in the upper end of its previously announced range of $600 million to $680 million.
- Expects 12% to 15% per year growth in limited partner distributions as being a reasonable range of expectations through at least 2024.
- Expects the annualized rate of the fourth-quarter 2021 distribution, which is payable in February 2022, to be in a range of $2.76 to $2.83 per common unit.
- Remains well-positioned to achieve its best-in-class long-term distribution growth objectives
Headwinds
- Expectations are subject to the usual caveats.
- Expectations include the impact of incentive distribution rights fees, as these fees are treated as an operating expense.
- Adjusted EBITDA, CAFD, limited partner distribution and other expectations assume, among other things, normal weather and operating conditions.
- Expectations assume public policy support for wind and solar development and construction.
- Expectations assume market demand and transmission expansion support for wind and solar development; market demand for pipeline capacity; and access to capital at reasonable cost and terms.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2021
-0.1%
Avg return
Earnings day
+0.4%
Avg return
5 days after
-1.2%
Avg return
30 days after
46%
21 / 46 earnings
Positive
+15.7%
Q3 2023
Best reaction
-25.1%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.6% | +4.2% | +3.6% | |
| Q4 2025 | +9.2% | +6.0% | +4.3% | |
| Q3 2025 | -5.1% | +2.3% | -6.6% | |
| Q1 2025 | +5.5% | +5.2% | +6.1% | |
| Q4 2024 | -25.1% | -33.3% | -44.1% | |
| Q3 2024 | -16.3% | -18.7% | -33.1% | |
| Q2 2024 | -6.6% | -3.7% | -6.4% | |
| Q1 2024 | +7.9% | +5.4% | +17.4% | |
| Q4 2023 | +7.4% | +12.0% | +1.0% | |
| Q3 2023 | +15.7% | +22.4% | +5.5% | |
| Q2 2023 | -3.9% | -8.4% | -19.8% | |
| Q1 2023 | -12.2% | -9.7% | -7.6% | |
| Q4 2022 | -2.5% | -4.5% | -11.5% | |
| Q3 2022 | -0.3% | +0.7% | +7.7% | |
| Q2 2022 | +9.7% | +8.8% | +14.8% | |
| Q1 2022 | -6.9% | -10.6% | -12.6% | |
| Q4 2021 | -0.1% | -1.2% | +1.7% | |
| Q3 2021 | +3.1% | +5.0% | +9.7% | |
| Q2 2021 | -0.6% | +3.1% | +6.1% | |
| Q1 2021 | +1.3% | +2.7% | -4.0% | |
| Q4 2020 | -8.7% | -3.0% | -13.7% | |
| Q3 2020 | -0.8% | -0.4% | -1.8% | |
| Q2 2020 | +2.8% | +6.7% | +5.8% | |
| Q1 2020 | +11.1% | +10.8% | +14.2% | |
| Q4 2019 | -2.1% | -0.6% | +8.2% | |
| Q3 2019 | +2.7% | +2.6% | +3.8% | |
| Q2 2019 | -3.3% | -3.3% | -1.5% | |
| Q1 2019 | -2.2% | -0.5% | -2.6% | |
| Q4 2018 | -4.3% | -6.7% | -1.6% | |
| Q3 2018 | -2.6% | -9.6% | -0.2% | |
| Q2 2018 | +3.9% | +3.7% | +8.0% | |
| Q1 2018 | +3.0% | +5.5% | +8.6% | |
| Q4 2017 | +4.3% | +6.9% | -5.0% | |
| Q3 2017 | -0.7% | -0.4% | -1.9% | |
| Q2 2017 | +1.9% | +6.1% | +0.2% | |
| Q1 2017 | +5.1% | +3.9% | +4.2% | |
| Q4 2016 | +10.1% | +14.2% | +9.3% | |
| Q3 2016 | -2.3% | -4.3% | -7.4% | |
| Q2 2016 | -1.8% | -3.5% | -3.9% | |
| Q1 2016 | -0.8% | — | — | |
| Q4 2015 | +2.8% | — | — | |
| Q3 2015 | +7.3% | — | — | |
| Q2 2015 | -8.6% | — | — | |
| Q1 2015 | -0.2% | — | — | |
| Q4 2014 | +0.0% | — | — | |
| Q3 2014 | -2.7% | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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