Core Viewpoint - NextEra Energy's recent earnings report shows mixed results, with adjusted earnings surpassing estimates while total revenues lagged significantly behind expectations, raising questions about future performance leading up to the next earnings release [2][3]. Financial Performance - Adjusted earnings for Q2 2024 were 96 cents per share, beating the Zacks Consensus Estimate of 93 cents by 3.2% and reflecting a year-over-year increase of 9.1% [2] - Total operating revenues for Q2 were $6.06 billion, falling short of the Zacks Consensus Estimate of $7.26 billion by 16.8% and down 17.4% year over year [3] Segment Results - Florida Power & Light Company reported revenues of approximately $4.38 billion, down 8.1% from $4.77 billion a year ago, with earnings of 60 cents per share compared to 57 cents previously [4] - NextEra Energy Resources generated revenues of $2.56 billion, a decrease of 27.2% from $3.5 billion in the prior year, with earnings of 42 cents per share, up from 39 cents [4] Highlights and Strategic Initiatives - Florida Power & Light has saved customers nearly $16 billion in fuel costs since 2001 through generation modernization and solar portfolio expansion [6] - NextEra Energy Resources added 3,015 MW of renewable projects to its contracted renewables backlog, which now totals nearly 22.6 gigawatts [7] Financial Update - As of June 30, 2024, cash and cash equivalents were approximately $1.55 billion, down from $2.7 billion at the end of 2023, while long-term debt increased to $68.5 billion from $61.4 billion [8] - Cash flow from operating activities in the first half of 2024 was $7 billion, compared to $4.8 billion in the same period last year [8] Guidance and Future Outlook - NextEra Energy reaffirmed its 2024 earnings guidance in the range of $3.23-$3.43 per share, with a midpoint of $3.33, which is lower than the Zacks Consensus Estimate of $3.40 [8] - For 2025, the company anticipates earnings per share of $3.45-$3.70 and expects 6-8% annual growth through 2026, based on 2024 adjusted earnings [9] Industry Context - NextEra Energy is part of the Zacks Utility - Electric Power industry, which has seen mixed performance among peers, such as Avangrid, which reported a year-over-year revenue increase of 21.2% [13]

Some of the worst economic crises in decades couldn't stop these three companies from lining shareholder pockets with cash. The economy doesn't always go up; recessions occur when the economy contracts, which can have real-world consequences for consumers, businesses, and the stock market. Despite recession talk ramping up in the media, nobody knows when the next recession will happen or how severe it will be. Investors can prepare their portfolios by looking for stocks with a proven long-term growth histor ...

Investors looking for stocks in the Utility - Electric Power sector might want to consider either FirstEnergy (FE) or NextEra Energy (NEE) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends ...

The U.S. is entering an unprecedented period (and I'm not talking about the upcoming Presidential election). After decades of static power demand, the country is about to stomp on the accelerator. Forecasters expect the country's electricity demand to grow four times faster over the next 20 years compared to the prior two decades. Several catalysts are driving this acceleration, including onshoring of manufacturing, growing electric vehicle (EV) adoption, and the expansion of data-center capacity. NextEra E ...

This green energy stock is dedicated to rewarding shareholders with generous dividends. After hiking its payout every year for nearly three decades, NextEra Energy (NEE -2.61%) is clearly committed to rewarding shareholders. In addition to the lengthy dividend history, the stock's allure as a passive income play is demonstrated in its forward dividend yield of 2.9%. Even more attractive for some is the fact that the electric utility has made a concerted effort to expand its solar and wind power assets, maki ...

Financial Performance - Net income attributable to NEE decreased by $1,173 million for the three months ended June 30, 2024, reflecting lower results at NEER and Corporate and Other, partly offset by higher results at FPL[124]. - NEE's earnings per share for the three months ended June 30, 2024, was $0.79, compared to $1.38 in the same period of 2023[121]. - For the six months ended June 30, 2024, NEE reported a net income of $1,489 million, compared to $2,764 million for the same period in 2023, reflecting a decrease of approximately 46%[173]. - Net income for the three months ended June 30, 2024, was $1.296 billion, down 49.5% from $2.564 billion in the same period last year[223]. - Comprehensive income attributable to NEE for the three months ended June 30, 2024, was $1.618 billion, compared to $2.795 billion for the same period in 2023[223]. - Net income for the six months ended June 30, 2024, was $3,233 million, a decrease from $4,349 million in the same period of 2023, representing a decline of approximately 25.6%[239]. Revenue and Expenses - Operating revenues for NEE for the six months ended June 30, 2024, were $11,801 million, down from $28,114 million in the previous year, representing a decline of approximately 58%[173]. - Operating revenues for the three months ended June 30, 2024, were $6.069 billion, a decrease of 17.4% compared to $7.349 billion for the same period in 2023[222]. - Operating income for the six months ended June 30, 2024, was $3.682 billion, a decline of 35.7% compared to $5.741 billion for the same period in 2023[222]. - Total operating expenses for the three months ended June 30, 2024, were $4.428 billion, a decrease of 2.8% from $4.556 billion in the same period last year[222]. - Revenue from contracts with customers for the three months ended June 30, 2024, was approximately $6.0 billion, a decrease from $6.3 billion in the same period of 2023, reflecting a decline of about 4.8%[256]. Capital Expenditures - FPL's capital expenditures for the six months ended June 30, 2024, totaled $4,408 million, compared to $4,732 million in the same period of 2023[129]. - NEER's total capital expenditures for the six months ended June 30, 2024, were $10,120 million, an increase from $8,292 million in the prior year[129]. - Capital expenditures of Florida Power & Light (FPL) were $4,260 million for the six months ended June 30, 2024, down from $4,664 million in the prior year, indicating a reduction of approximately 8.7%[239]. Liquidity and Debt - NEE's total net available liquidity was approximately $13.6 billion as of June 30, 2024[131]. - NEE's total current liabilities stood at $26,231 million, with total noncurrent liabilities at $99,057 million, highlighting significant obligations[170]. - NEE's long-term debt as of June 30, 2024, was $25,037 million, up from $23,609 million as of December 31, 2023, indicating an increase of approximately 6%[272]. - Issuances of long-term debt, including premiums and discounts, totaled $14,111 million for the six months ended June 30, 2024, compared to $9,978 million in the same period of 2023, reflecting an increase of about 41.5%[239]. Investments and Assets - NEE's total assets increased to $95,055 million as of June 30, 2024, from $91,469 million at the end of 2023[133]. - Total current assets for NEE as of June 30, 2024, were $12,803 million, while total noncurrent assets were $171,921 million, indicating a strong asset base[170]. - As of June 30, 2024, NEE subsidiaries had investments totaling approximately $5,505 million, primarily in commingled funds and asset-backed securities[163]. - The assets and liabilities of eight indirect subsidiaries owning solar generation facilities were approximately $1,749 million and $533 million, respectively, at June 30, 2024[316]. Risk Management - NEE's risk management policies are in place to monitor and manage market risks associated with commodity prices, interest rates, and equity prices[172]. - NEE's exposure management committee oversees market risk management policies and receives periodic updates on market positions and credit exposures[182]. - The company faces risks related to regulatory changes that could materially affect its financial condition and operations[258]. - NEE's credit risk exposure associated with energy marketing and trading operations totaled approximately $3.0 billion as of June 30, 2024, with 92% of this exposure to investment-grade companies[202]. Shareholder Returns - The company has a share repurchase program authorized for up to 180 million shares, with 12,923 shares purchased at an average price of $76.91 during the three months ended June 30, 2024[207]. - Dividends on common stock for the six months ended June 30, 2024, amounted to $2,115 million, up from $1,876 million in the same period of 2023, representing an increase of approximately 12.7%[239]. - Dividends to NEE for the six months ended June 30, 2024, were $3,700 million, an increase from $2,065 million in the same period of 2023[252][253]. Operational Efficiency - The company is continuously seeking to improve operational efficiency and effectiveness[196]. - The company plans to continue focusing on market expansion and new technology development to drive future growth[224].

Core Insights - NextEra Energy, Inc. (NEE) reported second-quarter 2024 adjusted earnings of 96 cents per share, exceeding the Zacks Consensus Estimate of 93 cents by 3.2% and reflecting a year-over-year increase of nearly 9.1% [1] - The company's operating revenues for the second quarter were $6.06 billion, falling short of the Zacks Consensus Estimate of $7.26 billion by 16.8% and down 17.4% year over year [6] - Florida Power & Light Company (FPL) and NextEra Energy Resources were key contributors to the earnings performance, with FPL's revenues at approximately $4.38 billion, down 8.1% from the previous year, and NextEra Energy Resources' revenues at $2.56 billion, down 27.2% [7] Financial Performance - GAAP earnings per share for the second quarter were 79 cents, compared to $1.38 in the same period last year [5] - Cash and cash equivalents as of June 30, 2024, were nearly $1.55 billion, a decrease from $2.7 billion on December 31, 2023 [11] - Long-term debt increased to $68.5 billion as of June 30, 2024, up from $61.4 billion at the end of 2023 [12] Segment Results - FPL's earnings per share were 60 cents, up from 57 cents a year ago, despite a revenue decline [7] - NextEra Energy Resources reported earnings of 42 cents per share, compared to 39 cents in the prior-year quarter [7] - The corporate segment had operating revenues of $35 million, with an operating loss of 6 cents per share, an improvement from a loss of 8 cents in the previous year [8] Growth and Guidance - NextEra Energy reaffirmed its 2024 earnings guidance in the range of $3.23-$3.43 per share, with a midpoint of $3.33, which is lower than the Zacks Consensus Estimate of $3.40 [13] - For 2025, the company expects earnings per share of $3.45-$3.70, and anticipates a growth rate of 6-8% per year through 2026, based on 2024 adjusted earnings [13] - The Energy Resources unit aims to add 36,500-45,500 MW of renewable power projects to its portfolio from 2024 to 2027 [14] Operational Highlights - FPL has saved customers nearly $16 billion in fuel costs since 2001 through its generation modernization efforts and solar portfolio expansion [9] - NextEra Energy Resources expanded its contracted renewables backlog by adding 3,015 MW of renewable projects in the quarter, bringing the total backlog to nearly 22.6 gigawatts [10]

For the quarter ended June 2024, NextEra Energy (NEE) reported revenue of $6.07 billion, down 17.4% over the same period last year. EPS came in at $0.96, compared to $0.88 in the year-ago quarter. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance. Operating Revenues- Florida Power ...

NextEra Energy (NEE) came out with quarterly earnings of $0.96 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items. Over the last four quarters, the company has surpassed consensus EPS estimates four times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on t ...

NextEra Energy, Inc. NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company headquartered in Juno Beach, Florida. NextEra Energy owns Florida Power & Light Company, which is America's largest electric utility that sells more power than any other utility, providing clean, affordable, reliable electricity to approximately 5.9 million customer accounts, or more than 12 million people across Florida. NextEra Energy also owns a competitive clean energy business, NextEra Energy Resources, LLC, which, ...