Recap: NextEra Energy Partners Q2 Earnings

Shares of NextEra Energy Partners NEP were flat in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 240.82% year over year to $0.69, which beat the estimate of $0.36.

Revenue of $253,000,000 rose by 15.53% from the same period last year, which missed the estimate of $338,100,000.

Outlook

NextEra Energy Partners hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Jul 24, 2020

Time: 09:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/nee/mediaframe/39584/indexr.html

Recent Stock Performance

Company's 52-week high was at $61.87

Company's 52-week low was at $29.01

Price action over last quarter: Up 21.49%

Company Profile

NextEra Energy Partners LP is formed to acquire, manage and own contracted clean energy projects. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The renewable energy projects are fully contracted, use industry technology and are in regions that are favorable for generating energy from the wind and sun. Its natural gas pipelines in the portfolio are all strategically located, serving power producers and municipalities in South Texas, processing plants and producers in the Eagle Ford Shale, and commercial and industrial customers in the Houston area. Renewable energy sales generate maximum revenue for the company.