NextEra Energy Partners on Oct. 22 reported third-quarter 2019 adjusted EBITDA of $315 million, an increase from adjusted EBITDA of $203 million in the third quarter of 2018.
The S&P Global Market Intelligence consensus EBITDA estimate was $310.71 million.
The partnership's cash available for distribution, or CAFD, was $125 million, compared with $81 million in the same quarter a year ago.
Net loss attributable to the partnership was $72 million, or negative $1.21 per diluted unit, compared to net income of $33 million, or 58 cents per share, in the year-ago quarter. Operating revenue was $253 million, up from $178 million a year ago. NextEra Energy Partners reported operating income of $88 million, up from $59 million a year earlier.
NextEra Energy Partners said it will pay a quarterly distribution of 51.75 cents per common unit Nov. 14 to unit holders of record Nov. 6.
NextEra Energy Partners is targeting a full-year 2019 run rate for adjusted EBITDA of $1.23 billion to $1.4 billion and CAFD of $560 million to $640 million, including full contributions from PG&E Corp. related projects, reflecting calendar-year 2020 expectations for the forecast portfolio at year-end 2019.
NextEra Energy Partners is the yieldco affiliate of NextEra Energy Inc.