Xplr Infrastructure, Lp (XIFR)
NYSE:XIFR
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XPLR Infrastructure
(NYSE:XIFR)
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Rating:53Neutral
Price Target:
$12.00
▲(17.76% Upside)
Action:Reiterated
Date:05/09/26
The score is held back mainly by weak cash flow (deeply negative TTM free cash flow) and a still debt-heavy profile despite improved TTM leverage optics. Technicals are supportive with a clear uptrend, but overbought signals reduce conviction. Valuation appears inexpensive on P/E, and the earnings call reinforced full-year guidance and strategic progress, though higher interest expense remains a notable near-term drag.
Positive Factors
Contracted recurring cash flows
XPLR’s core business collects payments under long‑term PPAs and availability‑style contracts, creating durable, predictable revenue streams. This contract backbone reduces volatility in cash receipts, supports multi-year planning and underpins the company’s ability to fund operations and project reinvestment over time.
Negative Factors
Persistently negative free cash flow
Deeply negative TTM free cash flow indicates that capital spending and reinvestment materially outpace internally generated cash. Over the medium term this constrains self‑funding for growth or distributions, increases reliance on external capital, and leaves the company sensitive to funding market conditions and refinancing timelines.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted recurring cash flows
XPLR’s core business collects payments under long‑term PPAs and availability‑style contracts, creating durable, predictable revenue streams. This contract backbone reduces volatility in cash receipts, supports multi-year planning and underpins the company’s ability to fund operations and project reinvestment over time.
Read all positive factors
XPLR Infrastructure (XIFR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.29B
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)11.3
Beta (1Y)0.87
Revenue Growth-4.77%
EPS GrowthN/A
CountryUS
EmployeesN/A
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)1.11
Shares Outstanding94,272,800
10 Day Avg. Volume1,041,020
30 Day Avg. Volume1,161,654
Financial Highlights & Ratios
PEG Ratio-1.68
Price to Book (P/B)0.29
Price to Sales (P/S)0.79
P/FCF Ratio-4.29
Enterprise Value/Market Cap2.84
Enterprise Value/Revenue5.51
Enterprise Value/Gross Profit28.39
Enterprise Value/Ebitda8.07
Forecast
1Y Price Target
$12.25Price Target Upside20.22% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)0.22
Revenue Forecast (FY)$1.35B
XPLR Infrastructure Business Overview & Revenue Model
Company Description
XPLR Infrastructure LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texa...
How the Company Makes Money
XIFR makes money primarily by owning infrastructure assets that generate recurring cash flows under contracts. Key revenue streams typically include (i) payments received from customers under long-term power purchase agreements (PPAs) or similar o...
XPLR Infrastructure Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 17, 2026
Earnings Call Sentiment Positive
The call conveyed a generally constructive strategic and operational story: solid Q1 results within expectations, clear progress on repowering, successful capital transactions in 2025 that reduce near-term corporate refinancing needs, and a new battery co‑investment expected to add ~200 MW of storage. Offsetting this were near-term headwinds: slightly below‑average wind resource (99% vs. 103% prior year), higher O&M due to pulled-forward maintenance, and material incremental interest expense (~$74M corporate + ~$12M project) that reduced Free Cash Flow in Q1. Management reiterated full-year 2026 guidance and emphasized capital discipline and liquidity, suggesting the negatives are largely expected, temporary, or part of executed transactions.Positive Updates
Solid Operational Start to 2026
Management described a 'solid start' to 2026 with portfolio performance consistent with expectations and disciplined execution of strategic priorities to simplify capital structure and invest in the asset base.
Negative Updates
Lower Wind Resource in Q1
First-quarter existing projects experienced wind resource at ~99% of long-term average versus ~103% in the prior-year period, reducing generation relative to last year.
Read all updates
Q1-2026 Updates
Positive
Negative
Solid Operational Start to 2026
Management described a 'solid start' to 2026 with portfolio performance consistent with expectations and disciplined execution of strategic priorities to simplify capital structure and invest in the asset base.
Read all positive updates
Company Guidance
The company reiterated 2026 guidance of $1.75 billion to $1.95 billion of adjusted EBITDA and $600 million to $700 million of Free Cash Flow Before Growth, noting Q1 results of roughly $435 million of adjusted EBITDA and $89 million of FCF Before Growth (Q1 typically representing about 12%–15% of full‑year FCF BG); Q1 wind resource was ~99% of long‑term average (versus 103% a year earlier), ~30% of 2026 repowering projects are complete, and XPLR completed the final draw on 2025 project financing commitments while expecting the next major corporate refinancing in 2027; the company plans a 49% stake in four battery projects adding ~200 net MW by year‑end 2027 with ~ $80 million net equity required (with roughly $45 million of that expected from interconnection sales), and Q1 FCF was reduced by roughly $74 million of incremental corporate interest from ~$1.75 billion of unsecured notes issued in March 2025 plus about $12 million of additional project interest; cash & equivalents were about $943 million (with ~ $300 million held in project reserves), and management highlighted a recent ~90 MW recontract at ~ $25/MWh higher (a 15‑year busbar) as an early example of recontracting upside.XPLR Infrastructure Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
45
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.18B | 1.19B | 1.23B | 1.08B | 969.00M | 722.00M |
| Gross Profit | 229.00M | 126.00M | 726.00M | 558.00M | 442.00M | 348.00M |
| EBITDA | 806.00M | 607.00M | 345.00M | 772.00M | 581.00M | 474.00M |
| Net Income | 104.00M | -28.00M | -23.00M | 200.00M | 477.00M | 137.00M |
Balance Sheet | ||||||
| Total Assets | 19.51B | 19.59B | 20.29B | 22.51B | 23.05B | 18.98B |
| Cash, Cash Equivalents and Short-Term Investments | 943.00M | 960.00M | 328.00M | 274.00M | 226.00M | 147.00M |
| Total Debt | 6.33B | 6.20B | 5.34B | 6.29B | 5.29B | 5.33B |
| Total Liabilities | 8.78B | 8.70B | 7.43B | 8.45B | 8.28B | 7.82B |
| Stockholders Equity | 3.20B | 3.19B | 3.21B | 3.57B | 3.33B | 2.98B |
Cash Flow | ||||||
| Free Cash Flow | -559.00M | -219.00M | 559.00M | -538.00M | -575.00M | 564.00M |
| Operating Cash Flow | 335.00M | 739.00M | 800.00M | 731.00M | 776.00M | 677.00M |
| Investing Cash Flow | 702.00M | 630.00M | 1.24B | -194.00M | -1.19B | -2.30B |
| Financing Cash Flow | -1.62B | -674.00M | -2.00B | -527.00M | 551.00M | 1.66B |
XPLR Infrastructure Technical Analysis
Positive
10.19
Price Trends
10.73
Positive
10.52
Positive
10.17
Positive
Market Momentum
0.38
Negative
67.22
Neutral
88.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XIFR, the sentiment is Positive. The current price of 10.19 is below the 20-day moving average (MA) of 11.48, below the 50-day MA of 10.73, and above the 200-day MA of 10.17, indicating a bullish trend. The MACD of 0.38 indicates Negative momentum. The RSI at 67.22 is Neutral, neither overbought nor oversold. The STOCH value of 88.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XIFR.
XPLR Infrastructure Risk Analysis
XPLR Infrastructure disclosed 59 risk factors in its most recent earnings report. XPLR Infrastructure reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
XPLR Infrastructure Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | $4.81B | 10.99 | 12.46% | ― | 7.05% | -36.73% | |
63 Neutral | $4.78B | 70.36 | 4.43% | 7.33% | 16.06% | -88.65% | |
63 Neutral | $54.04B | 24.30 | 43.22% | 0.56% | -24.36% | -6.91% | |
58 Neutral | $17.32B | -840.13 | -1.72% | ― | 84.38% | -104.50% | |
53 Neutral | $2.29B | 11.29 | 3.26% | ― | -4.77% | ― | |
46 Neutral | $29.01B | 116.13 | 8.84% | 1.11% | 10.82% | -86.75% |
* Utilities Sector Average
XIFR
XPLR Infrastructure
12.48
3.66
41.50%
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85.25
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170.03%
VST
Vistra Corp
160.23
0.48
0.30%
TLN
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386.80
142.85
58.56%
XPLR Infrastructure Corporate Events
Business Operations and StrategyPrivate Placements and Financing
XPLR Infrastructure Expands Liquidity with New Term Loan
Positive
Apr 10, 2026
On April 10, 2026, indirect subsidiaries of XPLR Infrastructure, LP borrowed about $232 million under a limited-recourse senior secured variable rate term loan facility, highlighting the company’s continued use of structured debt to finance ...
Private Placements and FinancingRegulatory Filings and Compliance
XPLR Infrastructure Renews At-The-Market Equity Program
Positive
Apr 7, 2026
On April 7, 2026, XPLR Infrastructure, LP entered into a Distribution Agency Agreement with Barclays Capital Inc., KeyBanc Capital Markets Inc. and Scotia Capital (USA) Inc. to renew its at-the-market equity issuance program. Under this arrangemen...
Business Operations and StrategyPrivate Placements and Financing
XPLR Infrastructure Secures Major Term Loan for Growth
Positive
Mar 27, 2026
On March 27, 2026, indirect subsidiaries of XPLR Infrastructure borrowed about $174 million under a limited-recourse senior secured variable rate term loan facility, leaving roughly $376 million still available under the facility subject to condit...
Business Operations and StrategyPrivate Placements and Financing
XPLR Infrastructure Amends and Extends Revolving Credit Facility
Neutral
Feb 10, 2026
On February 6, 2026, XPLR Infrastructure Operating Partners, LP and its direct subsidiary entered into a fourth amendment to their senior secured revolving credit facility, reducing the facility size from $2.45 billion to $1.25 billion while keepi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.