NextEra Energy Partners (NEP) Reports Q3 Loss, Misses Revenue Estimates

Company Performance - NextEra Energy Partners (NEP) reported a quarterly loss of $0.43 per share, missing the Zacks Consensus Estimate of $0.51, and down from earnings of $0.57 per share a year ago, representing an earnings surprise of -184.31% [1] - The company posted revenues of $319 million for the quarter ended September 2024, which was 1.88% below the Zacks Consensus Estimate and down from $367 million in the same quarter last year [1] - Over the last four quarters, the company has only surpassed consensus EPS estimates once and has not beaten consensus revenue estimates during this period [1] Stock Performance - Shares of NextEra Energy Partners have declined approximately 17.5% since the beginning of the year, contrasting with the S&P 500's gain of 22.7% [2] - The current consensus EPS estimate for the upcoming quarter is -$0.01 on revenues of $281.86 million, while for the current fiscal year, it is $2.20 on revenues of $1.28 billion [4] Industry Outlook - The Alternative Energy - Other industry, to which NextEra Energy Partners belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, World Kinect (WKC), is expected to report quarterly earnings of $0.62 per share, reflecting a year-over-year increase of 6.9%, with revenues projected at $11.78 billion, down 3.8% from the previous year [5]