Revenue for the quarter reached $315 million, a 1% decline from $319 million in the same period last year and $16.6 million below the consensus estimate of $331.6 million. The shortfall was driven by a modest drop in sales from the company’s wind and solar portfolio, offset only partially by a small uptick in battery‑storage revenue. The decline in clean‑energy demand, coupled with higher input costs, limited the company’s ability to meet forecasted revenue targets.
The company reported a GAAP earnings‑per‑share loss of $0.37, missing the consensus estimate of $0.07 by $0.30. Adjusted EPS was also $0.37, below the analyst expectation of $0.19. The loss widened from the $0.40 loss reported in the same quarter last year, largely because of a $5 million increase in interest expense from refinancing activities. The higher financing cost, combined with the revenue shortfall, pushed the company into a deeper loss than anticipated.
Adjusted EBITDA for Q3 2025 was $455 million, unchanged from the prior year’s $455 million and within the company’s guidance range of $1.85 billion to $2.05 billion for 2025. The company reaffirmed its 2026 guidance of $1.75 billion to $1.95 billion, indicating confidence that its clean‑energy portfolio will continue to generate stable cash flows despite short‑term headwinds.
XPLR Infrastructure’s portfolio includes contracted wind, solar, and battery‑storage projects across the United States, as well as natural‑gas pipeline assets. The company completed 960 MW of repowering projects to date, moving toward a 1.6‑GW target, and sold its Meade pipeline investment for approximately $1.1 billion. Proceeds from the sale were used to repay debt and acquire remaining interests, strengthening the balance sheet and reducing future interest obligations.
Management emphasized that the company’s disciplined capital allocation and focus on high‑credit‑quality counterparties will help it navigate the current market environment. While the quarter’s results fell short of expectations, the company’s guidance for adjusted EBITDA remains unchanged, suggesting that management believes the underlying business fundamentals are intact and that the company is well positioned to capitalize on growth in the U.S. power sector.
Overall, XPLR Infrastructure’s Q3 2025 earnings highlight a challenging quarter marked by revenue and earnings misses, but the company’s steady adjusted EBITDA, strategic asset sales, and ongoing repowering initiatives provide a foundation for future resilience in the clean‑energy market.
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