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Gevo, Inc. (GEVO) - $25 value - yours FREE >>
NextEra Energy Partners, LP (NEP) - $25 value - yours FREE >>
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NextEra Energy Partners (NEP) Q2 Earnings Top, Revenues Lag
NextEra Energy Partners, LP (NEP - Free Report) reported second-quarter 2018 earnings of $1.43 per share, surpassing the Zacks Consensus Estimate of 49 cents by a whopping 191.8%. The bottom line was also significantly better than the year-ago quarter’s bottom line of 24 cents.
Revenues
In the quarter under review, NextEra Energy Partners revenues came in at $225 million, missing the Zacks Consensus Estimate of $278 million by 19.2%. However, the top line improved 2.3% on a year-over-year basis.
Operational Update
In the reported quarter, NextEra Energy Partners total adjusted operating expenses were $118 million, down 7.8% year over year.
Interest expenses were $21 million, down 65.6% year over year.
NextEra Energy Partners, LP Price, Consensus and EPS Surprise
NextEra Energy Partners, LP Price, Consensus and EPS Surprise | NextEra Energy Partners, LP Quote
Financial Condition
NextEra Energy Partners had cash and cash equivalents of $654 million as of Jun 30, 2018 compared with $154 million as of Dec 31, 2017.
Long-term debt was $3,509 million as of Jun 30, 2018 compared with $4,218 million as of Dec 31, 2017.
Net cash from operating activities at the end of the first half of 2018 was $183 million, lower than $190 million in the year-ago period.
In the first half of 2018, the company’s total capital expenditure was only $7 million compared with $328 million in the prior-year period.
Guidance
NextEra Energy Partners continues to expect adjusted EBITDA of $1-$1.15 billion for 2018 and cash available for distribution (CAFD) in the range of $360-$400 million.
Zacks Rank
NextEra Energy Partners 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
Charah Solutions, Inc. is scheduled to report second-quarter 2018 results on Aug 14. The company carries a Zacks Rank of 3.
Gevo, Inc. (GEVO - Free Report) is scheduled to report second-quarter 2018 results on Aug 8. The company carries a Zacks #3.
Hydrogenics Corporation is scheduled to report second-quarter 2018 results on Aug 2. The company carries a Zacks Rank of #3.
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