NextEra Energy Partners LP (NEP) has announced an increase in profit for its fourth quarter as compared to the same duration last year, exceeding market expectations. The company's earnings for this period amounted to $112 million, signifying $1.20 per share. This is in contrast to the $35 million or $0.40 share recorded in the fourth quarter of the previous year.
Industry analysts had projected earnings of approximately $0.16 per share for the company, as per data aggregated by Thomson Reuters. These forecasts commonly do not account for exceptional items.
NextEra Energy Partners LP's revenue for this quarter showed a growth of 13.7%, coming in at $232 million, instead of last year's $204 million.
Looking at the quarter's earnings in a snapshot, the company's gross income rose from $35 million to $112 million as compared to last year. Earnings per share (EPS) also grew from $0.40 to $1.20. This performance outperformed the analyst estimate of $0.16. With regards to revenue, the company witnessed an increase from $204 million to $232 million as compared to the previous year.
