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Jun 30, 2024
NextEra Energy Partners Q2 2024 Earnings Report
Reported solid second-quarter financial performance with a net income attributable to NextEra Energy Partners of $62 million.
Key Takeaways
NextEra Energy Partners reported a solid financial performance in Q2 2024, with net income attributable to NextEra Energy Partners of $62 million. Adjusted EBITDA was $560 million, and cash available for distribution (CAFD) was $220 million. The company declared a quarterly distribution of $0.9050 per common unit.
Declared quarterly distribution of $0.9050 per common unit.
Net income attributable to NextEra Energy Partners was $62 million.
Adjusted EBITDA was $560 million.
Cash available for distribution (CAFD) was $220 million.
Forward Guidance
NextEra Energy Partners continues to expect 5% to 8% growth per year in limited partner distributions per unit through at least 2026, with a current target of 6% growth per year. The partnership expects the annualized rate of the fourth-quarter 2024 distribution that is payable in February 2025 to be $3.73 per common unit.
Positive Outlook
- Targeting 6% growth per year in limited partner distributions per unit through at least 2026.
- Expects the annualized rate of the fourth-quarter 2024 distribution payable in February 2025 to be $3.73 per common unit.
- Run-rate contributions for adjusted EBITDA from its forecasted portfolio at Dec. 31, 2024, to be in the ranges of $1.9 billion to $2.1 billion.
- Run-rate contributions for CAFD from its forecasted portfolio at Dec. 31, 2024, to be in the ranges of $730 million to $820 million.
- The partnership does not expect to need an acquisition in 2024 to achieve its 6% limited partner distribution growth target.
Challenges Ahead
- Future results are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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