NPI recorded a large beat on EPS expectations of 18c coming in at 95c. Revenue also beat estimates of $505.67 coming in at $528.97 displaying 12% year-over-year. Adjusted Free Cash Flow per share increased to 27c from 25c in 2023. NPI attributed the strong quarter primarily to, "higher wind resource across all offshore wind facilities, contribution from the New York onshore wind projects that achieved commercial operations in October 2023 and higher revenue from EBSA due to higher market demand, foreign exchange changes and rate escalations." The copany sold its La Lucha Solar Facility on June 28, for $215M and recorded a $20M gain on disposal contributing to adjusted free cash flow. Construction for the new Hai Long, Baltic Power, and Oneida facilities continues to be ontrack for 2026/27 and costs remain unchanged. Overall a solid quarter for NPI.
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