NextEra Energy Partners reports Q4 EPS 40c, consensus 54c

Reports Q4 revenue $266M, consensus $395.45M. "NextEra Energy Partners had a terrific year of execution in 2022, while delivering on its commitments to unitholders," said John Ketchum, chairman and CEO. "NextEra Energy Partners grew limited partner distributions per unit by approximately 15% year-over-year and delivered more than 20% year-over-year growth in adjusted EBITDA, highlighting the strength of our operating portfolio. This growth is supported by NextEra Energy Partners’ outstanding portfolio of clean energy assets, which was further diversified in 2022 as the partnership acquired interests in approximately 1,200 net megawatts of long-term contracted renewables and storage assets from NextEra Energy Resources. We continue to believe NextEra Energy Partners is extremely well positioned with ample liquidity to finance future growth and to capture a meaningful share of the long-term opportunity set in renewables, which has significantly expanded as a result of the Inflation Reduction Act. This significant opportunity set and NextEra Energy Partners’ meaningful financing flexibility provide us with confidence in our ability to continue to deliver long-term value for unitholders over the coming years. Based on our long-term growth visibility, we are extending our 12% to 15% distribution per unit growth expectations through 2026. We believe NextEra Energy Partners’ distribution per unit growth expectations are best-in-class verrsus any other company of its kind in the market and the combination of the partnership’s clean energy portfolio, growth visibility and financing flexibility offers limited partner unitholders a uniquely attractive investor value proposition."