XPLR Infrastructure (NEP), formerly NextEra Energy Partners, reported a Q4 loss Tuesday of $1.08 per diluted unit, swinging from a profit of $1.20 a year earlier.
Analysts surveyed by FactSet expected earnings of $0.69 per unit.
Operating revenue for the quarter ended Dec. 31 was $294 million, compared with $232 million a year earlier. Analysts surveyed by FactSet expected $298 million.
The company also said it is shifting to a model in which it uses retained operating cash flows to fund investments and is suspending distributions to shareholders for an indefinite period. XPLR also said the adopted plan eliminates the need for equity issuances.
Shares of XPLR Infrastructure were down over 23% in recent premarket activity.
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