NextEra Energy Partners (NYSE: NEP) reported Q4 EPS of ($0.12), versus $0.85 reported last year. Revenue for the quarter came in at $232 million, versus $212 million reported last year.

Outlook

Given the successful execution of the recent acquisitions from NextEra Energy Resources and a third party during the fourth quarter of 2021, the NextEra Energy Partners portfolio as of year-end 2021 is expected to deliver financial results in excess of the previously announced Dec. 31, 2021, run-rate adjusted EBITDA and CAFD expectations. As a result, today NextEra Energy Partners is introducing revised year-end Dec. 31, 2021, run-rate adjusted EBITDA and CAFD expectation ranges of $1.635 billion to $1.795 billion and $640 million to $720 million, respectively, reflecting calendar year 2022 expectations for the portfolio at year-end 2021. For year-end 2022, NextEra Energy Partners' run-rate expectations for adjusted EBITDA and CAFD remain unchanged. NextEra Energy Partners' expectations for a Dec. 31, 2022, run rate for adjusted EBITDA is expected to be in a range $1.775 billion to $1.975 billion and CAFD is expected to be in a range of $675 million to $765 million, reflecting calendar year 2023 expectations for the forecasted portfolio at year-end 2022. From an updated base of its fourth-quarter 2021 distribution per common unit at an annualized rate of $2.83 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, subject to the usual caveats. NextEra Energy Partners expects the annualized rate of the fourth-quarter 2022 distribution, which is payable in February 2023, to be in a range of $3.17 to $3.25 per common unit.

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