NYSE$XIFR
XPLR Infrastructure LP · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported solid first-quarter 2023 results, driven by adjusted EBITDA growth and strategic acquisitions.
NextEra Energy Partners reported a net loss of $14 million for the first quarter of 2023. However, the company's adjusted EBITDA grew by approximately 8.5%, reaching $447 million, and cash available for distribution (CAFD) was $156 million. The company also announced the acquisition of a 690-megawatt portfolio of renewable projects and completed a 50% buyout of the STX Midstream convertible equity portfolio financing.
- LP distributions per unit grew approximately 15% year-over-year.
- Announced acquisition of approximately 690-megawatt portfolio of long-term contracted operating renewable projects from NextEra Energy Resources.
- Completed 50% buyout of the STX Midstream convertible equity portfolio financing.
- Delivered solid first-quarter 2023 results, with adjusted EBITDA growth of approximately 8.5%.
Headline financials
Revenue & EPS history
NextEra Energy Partners · Revenue · Quarterly
$301M
Forward guidance
NextEra Energy Partners continues to expect 12% to 15% growth per year in limited partner distributions per unit through at least 2026. The annualized rate of the fourth-quarter 2023 distribution is expected to be in a range of $3.64 to $3.74 per common unit. The company also expects adjusted EBITDA to be in a range of $2.220 billion to $2.420 billion and CAFD in a range of $770 million to $860 million by Dec. 31, 2023.
Tailwinds
- Expects 12% to 15% growth per year in limited partner distributions per unit through at least 2026.
- Expects the annualized rate of the fourth-quarter 2023 distribution to be in a range of $3.64 to $3.74 per common unit.
- Continues to expect Dec. 31, 2023, run-rate expectations for adjusted EBITDA in a range of $2.220 billion to $2.420 billion.
- Continues to expect Dec. 31, 2023, run-rate expectations CAFD in a range of $770 million to $860 million.
- Well positioned to meet year-end 2023 adjusted EBITDA and CAFD run-rate expectations.
Headwinds
- Expectations are subject to the usual caveats.
- Expectations include the impact of incentive distribution rights (IDR) fees.
- Expectations assume normal weather and operating conditions.
- Expectations assume positive macroeconomic conditions in the U.S.
- Expectations assume 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 2023
-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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro