XPLR Infrastructure, LP NEP recorded fourth-quarter 2024 operating earnings of 99 cents per unit, which surpassed the Zacks Consensus Estimate of 52 cents by 90.3%. The firm reported a loss of 35 cents per share in the year-ago period.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

NEP’s Revenues

The firm’s operating revenues of $294 million missed the Zacks Consensus Estimate of $369 million by 20.3%. The figure, however, increased 26.7% from $232 million registered a year ago.

Operating revenues in 2024 totaled $1.23 billion compared with $1.08 billion in 2023.

Highlights of NEP’s Earnings Release

Total operating expenses were $810 million compared with the year-ago level of $285 million. This was due to goodwill impairment charge.

The firm reported an operating loss of $516 million compared with a loss of $53 million in the corresponding period of 2023.

On Jan. 23, 2025, NextEra Energy Partners, LP announced that it has changed its name to XPLR Infrastructure, LP, and will begin trading under the new ticker symbol, XIFR, on the New York Stock Exchange from Monday, Feb. 3, 2025.

XPLR Infrastructure announced the suspension of distributions to unitholders for an indefinite period. By taking these actions, XPLR Infrastructure adopts a plan that eliminates the need for equity issuances.

The firm is moving from an acquisition and distribution model to a business that invests its retained cash flows in its existing assets and other attractive investments.

XPLR Infrastructure expects to complete its previously announced 1.6-gigawatt repowering program by mid-2026.

NEP’s Financial Condition

The firm had cash and cash equivalents of $283 million as of Dec. 31, 2024, compared with $274 million as of Dec. 31, 2023.

Long-term debt totaled $4.61 billion as of Dec. 31, 2024, compared with $4.94 billion as of Dec. 31, 2023.

Net cash provided by operating activities for 2024 totaled $800 million compared with $731 million a year ago.

NEP’s Guidance

For 2025, XPLR Infrastructure expects adjusted EBITDA to be roughly flat year over year.

For 2026, XPLR Infrastructure expects the portfolio to deliver adjusted EBITDA in the range of $1.75-$1.95 billion. 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.

XPLR Infrastructure anticipates free cash flow before growth to be in the range of $600-$700 million in 2026. It expects the metric to remain relatively consistent through the end of the decade.

NEP’s Zacks Rank

The firm currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Upcoming Releases

Murphy Oil MUR is scheduled to report fourth-quarter results on Jan. 30, before market open. The Zacks Consensus Estimate for earnings is pegged at 62 cents per share.

The Zacks Consensus Estimate for 2024 earnings is pinned at $3.01 per share. The Zacks Consensus Estimate for 2024 sales is pinned at $3.11 billion.

Energy Transfer ET is slated to report fourth-quarter results on Feb. 11, after market close. The Zacks Consensus Estimate for earnings is pegged at 36 cents per unit, which indicates a year-over-year decline of 2.7%.

ET’s long-term earnings growth rate is 26.18%. The firm delivered an average earnings surprise of 3.4% in the trailing four quarters.

ONEOK, Inc. OKE is slated to report fourth-quarter results on Feb. 24, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.46 per share, which indicates year-over-year growth of 23.7%.

OKE’s long-term (three to five years) earnings growth rate is 4.39%. The Zacks Consensus Estimate for 2024 earnings is pinned at $5.10 per share.

 

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