NextEra Energy (NEE) reported mixed fourth-quarter 2024 earnings results on Jan. 24. Earnings per share improved 1.9% year over year, while total revenues declined 21.7% year over year due to weaker contributions from Florida Power & Light Company (“FPL”) and NextEra Energy Resources.Yet, due to its efficient execution of plans and smart capital investment, NextEra Energy was able to surpass earnings per share expectations in the fourth quarter. The company surpassed expectations in all the past four quarte ...

Core Viewpoint - The U.S. electricity demand is projected to surge by 55% over the next 20 years, driven by factors such as AI data centers, onshoring of manufacturing, and increased electrification across sectors [2] Company Overview - NextEra Energy is positioned as a leader in the utility sector, with significant investments in clean energy infrastructure and a strong track record of growth [3][10] - The company operates the largest electric utility in the U.S. (Florida Power & Light) and is a leader in renewables and storage, with over $150 billion invested in energy infrastructure over the last decade [4] Financial Performance - NextEra Energy has delivered a compound annual growth in adjusted EPS of over 10% since 2021, outperforming its peers significantly [5] - The company has achieved an adjusted EPS growth rate of 8.9% over the past 20 years, compared to 3.8% for its peers, enabling a 10% compound annual growth in dividends during the same period [5] Future Growth Plans - The company plans to invest approximately $120 billion over the next four years, aiming to grow its combined fleet to about 121 gigawatts, with 75 gigawatts expected to come from renewable energy by the end of 2027 [6] - NextEra Energy has signed agreements to potentially develop up to 10.5 gigawatts of renewable energy capacity through 2030 and has a joint development agreement for 4.5 gigawatts with Entergy [6] Diversification of Energy Solutions - The company is partnering with GE Vernova to develop new natural gas power generation solutions, combining gas with renewables to meet customer energy needs [7] - NextEra Energy is also exploring the recommissioning of its Duane Arnold nuclear power plant and evaluating the development of small modular reactors for future opportunities [8][9]

NextEra Energy (NEE 0.36%) is the undisputed leader in the power sector. The company operates the largest electric utility in the country. It is also the world leader in renewables and storage, operates the country's largest natural gas-fired generation fleet, is a leader in producing nuclear energy, and is an industry leader in electricity transmission.NextEra has invested more than $150 billion into building and maintaining its leading energy infrastructure assets over the past decade. That has helped pow ...

Core Insights - NextEra Energy, Inc. has been recognized as the No. 1 company in the electric and gas utilities industry on Fortune's 2025 list of the "World's Most Admired Companies," marking the 17th time in 19 years the company has received this honor [1][2] Company Performance - NextEra Energy generated more electricity and invested more in energy infrastructure than any other company in the past year [1] - The company owns Florida Power & Light Company, which serves over 6 million customer accounts, translating to approximately 12 million people in Florida [3] - NextEra Energy has invested over $150 billion in energy infrastructure over the last decade, including upgrades to nuclear plants and the development of natural gas pipelines and renewable energy projects [4] Economic Impact - The company has paid nearly $8 billion in annual property taxes and over $1.6 billion in annual land payments, contributing significantly to rural communities [4] - NextEra Energy operates in 49 states and employs more than 16,000 individuals [4] Energy Capacity and Innovation - NextEra Energy is the largest generator of renewable energy in the U.S. and has the largest natural gas fleet, as well as being one of the largest nuclear generators globally [4][5] - In the previous year, the company placed approximately 8.7 gigawatts (GW) of new renewable and storage projects into service and plans to invest around $120 billion over the next four years to expand its fleet to roughly 121 GW [4] Operational Excellence - The company boasts one of the lowest electricity bills in the U.S., more than 30% below the national average, and its smart grid technology helped avoid 2.7 million outages in 2024 [4] - NextEra Energy's non-fuel operations and maintenance costs are 50% better than the second-best in its peer group, saving customers over $24 monthly on a typical 1,000-kilowatt-hour residential bill [4] Strategic Initiatives - NextEra Energy has announced a framework agreement with GE Vernova to develop natural gas generation projects paired with renewable energy and storage, enhancing integrated power solutions for customers [4] - The company is also evaluating the recommissioning of Iowa's Duane Arnold Energy Center, with potential operations resuming by the end of 2028 [4]

Core Viewpoint - NextEra Energy, Inc. reaffirms its long-term financial expectations, maintaining its adjusted earnings per share guidance for 2025, 2026, and 2027, alongside an unchanged funding plan for 2024-2027 [1][2]. Financial Expectations - Adjusted earnings per share are projected to be in the range of $3.45 to $3.70 for 2025, $3.63 to $4.00 for 2026, and $3.85 to $4.32 for 2027 [1]. - The expected funding plan includes equity units of $5 billion to $7 billion and asset recycling of $5 billion to $6 billion [1]. Company Overview - NextEra Energy is a leading clean energy company based in Juno Beach, Florida, owning Florida Power & Light Company, the largest electric utility in the U.S. [2]. - The company serves over 6 million customer accounts, providing clean and reliable electricity to approximately 12 million people in Florida [2]. - NextEra Energy Resources, LLC, a subsidiary, is the world's largest generator of renewable energy from wind and solar [2]. Use of Adjusted Earnings - The management of NextEra Energy utilizes adjusted earnings as a non-GAAP financial measure for internal financial planning, performance analysis, and reporting to the board [3]. - Adjusted earnings are considered to provide a more meaningful representation of the company's fundamental earnings power [3].

Core Insights - NextEra Energy reported strong financial results for 2024, achieving an adjusted earnings per share (EPS) growth of over 8% compared to 2023, generating $6 billion or $3.43 per share, exceeding its annual target range of 6% to 8% [3][4] - The company has maintained a compound annual growth in adjusted EPS of over 10% since 2021 and approximately 10% over the past decade, outperforming its peers significantly [4] - Heavy investments in renewable energy have positioned NextEra Energy as a leader in the sector, with the company placing approximately 8.7 gigawatts (GW) of new renewable and storage projects into service in 2024 [6] Financial Performance - NextEra Energy's adjusted EPS for 2024 was $3.43, marking an 8.2% increase from 2023 [3] - The company has consistently delivered long-term value for shareholders, with growth rates more than double the peer-group average over the last three to five years [4] Growth Drivers - The company added over 12 GW of new renewable energy and battery storage projects to its backlog, ending the year with more than 25 GW of projects [8] - Strong demand from commercial and industrial customers for low-cost energy has been a significant factor in driving growth [8] Future Outlook - NextEra Energy expects to grow its adjusted EPS by 6% to 8% annually through 2027, supported by a robust backlog of projects [9] - The company aims to increase its dividend by about 10% annually through at least 2026, driven by high-end growth expectations and a lower dividend payout ratio [10] Strategic Initiatives - The company is evaluating the potential recommissioning of the Duane Arnold Energy Center in Iowa, which could restart as early as the end of 2028 to meet rising power demand [11] - Framework agreements with large companies to deploy another 15 GW of renewable energy capacity through 2030 provide additional visibility into long-term growth potential [12] Conclusion - NextEra Energy continues to demonstrate sector-leading earnings growth, supported by a strong backlog and increasing visibility into future growth opportunities, positioning the company for strong total returns in the coming years [13]

Core Insights - NextEra Energy's stock surged 5.8% following strong Q4 and full-year 2024 results, with a positive outlook through 2027, including solid dividend growth potential [1][2][6] Financial Performance - Adjusted EPS grew by approximately 2% year-over-year in Q4, while full-year adjusted EPS increased by 8.2%, hitting the top end of the company's growth target of 6% to 8% through 2027 [3][6] - The company expects to grow its annual dividend per share by around 10% through at least 2026 [6] Business Contributions - Both utility and renewable energy sectors contributed positively to NextEra Energy's bottom line in 2024, with the company owning the largest electric utility in the U.S. and being a leader in wind, solar energy, and battery storage [4][5] Growth Initiatives - In 2024, NextEra Energy commissioned 8.7 gigawatts (GW) of new renewable and storage projects and added over 12 GW of new renewables and storage to its backlog [5] - The company is collaborating with GE Vernova to develop natural-gas-fired power generation projects across the U.S. [7] Future Prospects - NextEra Energy aims to restart its Duane Arnold nuclear plant in Iowa by the end of 2028, which could further enhance its growth potential [7]

Fourth Quarter and Full Year 2024 Earnings Conference Call January 24, 2025 NextEra Energy 1 Cautionary Statements and Risk Factors That May Affect Future Results This presentation includes forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward-looking statements. Factors that could cause actual results to differ are discussed in the Appendix herein and in NextEra Energy's SEC filings. Non-GAAP Financial Information This present ...

Financial Data and Key Metrics Changes - NextEra Energy reported its fourth quarter and full year 2024 financial results, with specific metrics to be detailed by the CFO later in the call [3]. Business Line Data and Key Metrics Changes - The executive team, including the CEO of Florida Power & Light Company and the CEO of NextEra Energy Resources, will provide insights into the performance of various business lines during the call [3]. Market Data and Key Metrics Changes - Market-specific data and metrics will be discussed, highlighting the company's performance in different regions and sectors [3]. Company Strategy and Development Direction and Industry Competition - The company will outline its strategic direction and competitive positioning within the energy sector, emphasizing its focus on renewable energy and sustainability [3]. Management's Comments on Operating Environment and Future Outlook - Management will provide commentary on the current operating environment and future outlook, addressing potential risks and uncertainties that could impact results [4]. Other Important Information - The call will include forward-looking statements based on current expectations, with a caution that actual results may differ due to various risks and uncertainties [4]. Q&A Session All Questions and Answers Question: What are the expectations for future growth? - The management team will address questions regarding growth expectations and strategic initiatives during the Q&A session [3].

Core Insights - NextEra Energy, Inc. (NEE) reported fourth-quarter 2024 adjusted earnings of 53 cents per share, exceeding the Zacks Consensus Estimate of 51 cents by 3.9% and showing a year-over-year increase of nearly 1.9% [1] - The company's total revenues for the fourth quarter were $5.38 billion, falling short of the Zacks Consensus Estimate of $6.49 billion by 17% and representing a 21.7% decline year over year [3] - NextEra Energy reaffirmed its 2025 earnings guidance in the range of $3.45-$3.70 per share, with the midpoint lower than the Zacks Consensus Estimate of $3.68 [12] Financial Performance - GAAP earnings per share for the fourth quarter were 58 cents, compared to 59 cents in the same period last year [2] - Adjusted earnings for 2024 were $3.43 per share, an 8.2% increase from $3.17 in 2023, matching the upper end of the guided range [2] - Operating revenues for 2024 totaled $24.8 billion, down from $28.1 billion in 2023 [3] Segment Results - Florida Power & Light Company (FPL) generated revenues of nearly $3.86 billion, an 8.1% decrease from $4.19 billion in the prior year, with earnings per share remaining at 41 cents [4] - NextEra Energy Resources reported revenues of $1.44 billion, down 45.5% from $2.56 billion in the previous year, with earnings per share increasing to 22 cents from 18 cents [4] - Corporate and Other segment revenues were $82 million, up from $25 million in the year-ago period, but the operating loss widened to 10 cents per share from a loss of 7 cents [5] Operational Highlights - FPL's non-fuel O&M cost per customer is 50% lower than the second-best in its peer group, saving customers over $24 monthly on a typical residential bill [6] - FPL's typical residential customer bill is nearly 40% below the national average [7] - NextEra Energy Resources expanded its contracted renewables backlog by adding nearly 3.3 gigawatts (GW) of renewable projects, bringing the total backlog to over 25 GW [8] Financial Position - As of December 31, 2024, NEE had cash and cash equivalents of nearly $1.49 billion, down from $2.7 billion a year earlier [10] - Long-term debt increased to $72.4 billion from $61.4 billion on December 31, 2023 [11] - Cash flow from operating activities in 2024 was $13.26 billion, compared to $8.42 billion in 2023 [11] Future Outlook - For 2026 and 2027, NextEra Energy expects adjusted earnings per share to be in the range of $3.63 to $4.00 and $3.85 to $4.32, respectively [12] - The company aims to grow its dividend per share at a roughly 10% rate per year through at least 2026, based on 2024 figures [12] - NextEra Energy Resources plans to add 36,500-46,500 MW of renewable power projects to its portfolio from 2024 to 2027 [13]