NextEra Energy Partners Turns To Profit In Q3 - Quick Facts

(RTTNews) - NextEra Energy Partners LP (NEP) reported third-quarter 2020 net income attributable to the company of $56 million or $0.76 per share, compared to a loss of $72 million or $1.21 per share in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.44 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter declined to $240 million from $253 million last year. Analysts expected revenues of $336.88 million for the quarter.

NextEra Energy Partners declared a quarterly distribution of $0.5950 per common unit to the unitholders of NextEra Energy Partners. The distribution will be payable on November 13, 2020, to unitholders of record as of November 5, 2020.

The company said it remains on track to achieve long-term distribution growth objectives.