NextEra Energy Partners LP (NEP) stock plummeted 6.33% in the pre-market trading session on Tuesday, following the release of the company's disappointing fourth-quarter and full-year 2024 financial results.
The clean energy infrastructure firm missed Wall Street's expectations, reporting a quarterly loss of $1.08 per share on operating revenue of $294 million. Analysts had projected earnings of $0.69 per share on revenue of $336.82 million for the quarter.
The weaker-than-expected performance likely rattled investors' confidence, leading to a sell-off in NEP's shares during the pre-market hours. The company's parent, NextEra Energy Inc., had reaffirmed its long-term financial guidance earlier in the day, but this did little to alleviate concerns over NEP's near-term outlook.
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