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]

Core Insights - NextEra Energy reported a revenue of $6.07 billion for the quarter ended June 2024, reflecting a decline of 17.4% year-over-year, while EPS increased to $0.96 from $0.88 in the previous year [1]. Financial Performance - Florida Power & Light (FPL) generated operating revenues of $4.39 billion, which was below the three-analyst average estimate of $4.96 billion, marking an 8.1% decrease year-over-year [3]. - NextEra Energy Resources (NEER) reported operating revenues of $1.65 billion, significantly lower than the $2.39 billion average estimate, representing a year-over-year decline of 35.6% [3]. - Operating income for FPL was $1.74 billion, slightly above the average estimate of $1.64 billion [3]. - NEER's operating income was only $7 million, compared to the average estimate of $868.79 million, indicating a substantial shortfall [3]. - The overall revenue fell short of the Zacks Consensus Estimate of $7.29 billion, resulting in a surprise of -16.76%, while the EPS exceeded expectations with a surprise of +3.23% [4]. Market Performance - Over the past month, NextEra's shares have returned -1.2%, contrasting with the Zacks S&P 500 composite's increase of +1.8% [5]. - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [5].

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, ...

JUNO BEACH, Fla., July 24, 2024 /PRNewswire/ -- NextEra Energy, Inc. (NYSE: NEE) has posted its secondquarter 2024 financial results in a news release available on the company's website by accessing the following link: www.NextEraEnergy.com/FinancialResults. NextEra Energy, Inc. SOURCE NextEra Energy, Inc. John Ketchum, chairman, president and chief executive officer of NextEra Energy, Brian Bolster, executive vice president, finance and chief financial officer of NextEra Energy, and other members of the co ...

Core Viewpoint - NextEra Energy (NEE) is expected to report improved earnings for the second quarter of 2024, despite a projected decline in revenues compared to the previous year [4][12]. Financial Performance - The Zacks Consensus Estimate for NEE's second-quarter revenues is $7.27 billion, indicating a 1.3% decline from the year-ago figure [1]. - The consensus estimate for earnings is pegged at 93 cents per share, reflecting a year-over-year growth of 5.7% [12]. - NEE's earnings have beaten the Zacks Consensus Estimates in the trailing four quarters, with an average surprise of 8.8% [13]. Earnings Expectations - NEE has an Earnings ESP of +1.44%, suggesting a favorable outlook for earnings performance [5]. - The earnings estimate has increased by 2.2% in the past 60 days, indicating positive sentiment [12]. - The company is expected to see annual earnings per share growth in the range of 6-8% due to rising demand from various sectors [16]. Market Position and Valuation - NEE is currently valued at a forward 12-month P/E multiple of 20.24, which is higher than the industry average of 13.63 [8]. - Competitors such as The Southern Company, PG&E, and American Electric Power are trading at lower forward P/E multiples of 19.54, 12.71, and 16.12, respectively [9]. Growth Drivers - The company is benefiting from improving economic conditions in Florida, leading to new customer additions and increased demand for services [10][15]. - NEE's Energy Resources unit is effectively meeting rising commercial and industrial customer demand through clean energy projects, with over 21 GW in the backlog of signed contracts [6][18]. - Strategic investments in clean energy production and partnerships, such as with Entergy Corporation for storage projects, are expected to enhance growth prospects [10]. Stock Performance - NEE's shares have gained 20.4% year to date, outperforming the industry's rally of 5.7% [17].

Core Viewpoint - NextEra Energy, Inc. (NEE) has upgraded its stock rating from HOLD to BUY due to strong Q1 earnings, positive economic indicators, and an improved interest rate outlook [3][9]. Financial Performance - NEE reported Q1 earnings with an EPS that exceeded market consensus by $0.11 per share [3]. - Management provided full-year earnings guidance of $3.23 to $3.43 per share, with expectations for operating cash flow growth to match or exceed EPS growth [3][4]. - Anticipated annual dividend growth of approximately 10% through at least 2026 [4]. Economic and Market Context - Florida's economy is performing well, contributing to strong customer growth for NEE's utility subsidiary, Florida Power & Light, which added about 100,000 customers in Q1 2024 [4][5]. - NEE's renewable energy subsidiary has expanded its backlog of projects from 18,735 MW at year-end 2023 to 21,500 MW, indicating robust growth potential [5]. Interest Rate Outlook - The interest rate outlook has improved, with a significant probability of at least two rate cuts by the end of the year, which could positively impact NEE's valuation [6][9]. - Current 10-year treasury rates have decreased from around 4.7% to approximately 4.2%, which may enhance NEE's stock price attractiveness compared to treasury bonds [6]. Valuation Metrics - NEE's P/E ratio (TTM) stands at 21.82, which is 25.57% higher than the sector median of 17.37, indicating a premium valuation [8][10]. - The P/E ratio is slightly below its 5-year average, suggesting some valuation compression despite the premium [8][10].

Core Insights - Zacks Premium provides various tools for investors to confidently navigate the stock market and identify investment opportunities [1] Zacks Style Scores - The Zacks Style Scores categorize stocks into four types: Growth Score, Value Score, Momentum Score, and VGM Score [2][3] - Each stock is rated from A to F based on its value, growth, and momentum characteristics, with higher scores indicating a better chance of outperforming the market [4] Value Investing - Value investors seek undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow, with the Value Style Score highlighting the most attractive options [5] Growth Investing - The Growth Style Score focuses on a company's financial strength and future outlook, analyzing projected and historical earnings, sales, and cash flow to identify stocks with sustainable growth potential [15][22] Momentum Investing - The Momentum Style Score helps investors capitalize on price trends, utilizing metrics like one-week price changes and monthly earnings estimate changes to identify optimal entry points [16] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to simplify the process of building a successful investment portfolio [7] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [17] Stock Example: NextEra Energy (NEE) - NextEra Energy (NEE) holds a 3 (Hold) rating on the Zacks Rank and has a VGM Score of B, indicating potential for growth [11] - For fiscal 2024, NEE's earnings estimate has been revised upwards to $3.40 per share, with an average earnings surprise of 8.8% [12] - NEE is positioned as a strong candidate for growth investors, with a projected year-over-year earnings growth of 7.3% for the current fiscal year [22][23] - The company operates in the generation, transmission, distribution, and sale of electric energy, serving nearly 10 million people across 40 states in the U.S. and four provinces in Canada [21]

With a fair valuation and solid execution by NextEra's management team, NEE's technical situation is generally attractive. Notice in the chart below that shares have rallied through the key $70 mark that I have been discussing over the past year with this stock. Now, about that point of polarity, the next layer of potential selling pressure likely comes into play in the $80 to $82 range – that's the high from last quarter and where the bulls and bears battled from late 2022 through the middle part of last y ...