Xplr Infrastructure Tumbles To All: time low after suspending dividend

XPLR Infrastructure LP

28/01/2025 15:14

(Updates)
    ** XPLR Infrastructure's  NEP.N  shares tumble over 27% to
an all-time low of $11.48
    ** Company, previously known as NextEra Energy Partners,
reports Q4 net loss of $1.08/shr vs profit of $1.20/shr a year
earlier
    ** XPLR Infrastructure to suspend distributions to
unitholders for an indefinite period as it repositions its
business model
    ** Company says it will now focus on utilizing retained
operating cash flows to fund investments instead of raising new
capital to acquire assets
    ** "The changes we are announcing today are intended to
eliminate the need to issue equity, (enabling NEP) to both
preserve its balance sheet capacity... and maintain greater
financial flexibility," company says
    ** Company names Alan Liu as CEO
    ** In 2024, stock fell over 40%

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com))