NYSE$XIFR
XPLR Infrastructure LP · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
XPLR Infrastructure experienced a net loss due to a goodwill impairment charge, but reported a solid adjusted EBITDA. The company announced a strategic repositioning, suspending distributions to unitholders and focusing on reinvesting cash flows.
XPLR Infrastructure reported a net loss attributable to XPLR Infrastructure of $101 million for Q4 2024, including a one-time after-tax impairment of goodwill of $194 million. Adjusted EBITDA for the quarter was $483 million. The company is strategically repositioning to reinvest retained cash flows and has suspended distributions to unitholders.
- Strategic repositioning to focus on reinvesting retained cash flows in existing assets and other investments.
- Suspension of distributions to common unitholders indefinitely to facilitate a business plan without equity issuance.
- All convertible equity portfolio financing buyout payments are expected to be paid in cash.
- Credit ratings affirmations received from all agencies.
Headline financials
Revenue & EPS history
NextEra Energy Partners · Revenue · Quarterly
$294M
Forward guidance
XPLR Infrastructure expects adjusted EBITDA to be roughly flat year-over-year in 2025, with potential impacts from the timing of the Meade pipeline investment sale. For 2026, adjusted EBITDA is expected to be $1.75 billion to $1.95 billion, with free cash flow before growth in the range of $600 million to $700 million.
Tailwinds
- Expects to complete its previously announced 1.6-GW repowering program by mid-2026.
- Believes there are numerous repowering and co-located storage opportunities within its existing portfolio.
- Expects free cash flow before growth to be in the range of $600 million to $700 million in 2026 and remain relatively consistent through the end of the decade.
- Cumulative free cash flow before growth will exceed the remaining convertible equity portfolio financing buyout options.
- The partnership will have a consistent source of capital which it can invest back in the business at attractive returns.
Headwinds
- Suspending its distribution to common unitholders for an indefinite period.
- Results may be impacted by the timing of the expected sale of the Meade pipeline investment that is currently expected in the fourth quarter 2025.
- The decline in adjusted EBITDA of approximately $105 million is due to the expected sale of the Meade pipeline investment in the fourth quarter of 2025.
- 2025 is a transition year which will have partial impacts of approximately $945 million for convertible equity portfolio financing buyouts, the potential Meade pipeline investment sale and other holdco financings.
- Adjusted EBITDA expectations assume, among other things, normal weather and operating conditions; positive macroeconomic conditions in the U.S.
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 Q4 2024
-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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