NextEra Energy(NEE) - 2025 Q1 - Quarterly Results

Financial Performance - NextEra Energy reported Q1 2025 net income of $833 million, or $0.40 per share, down from $2,268 million, or $1.10 per share in Q1 2024[3]. - Adjusted earnings for Q1 2025 were $2.038 billion, or $0.99 per share, compared to $1.873 billion, or $0.91 per share in Q1 2024, reflecting a nearly 9% year-over-year increase[4]. - Florida Power & Light (FPL) achieved Q1 2025 net income of $1.316 billion, or $0.64 per share, up from $1.172 billion, or $0.57 per share in the prior-year quarter[5]. - NextEra Energy reported total operating revenues of $6,247 million for the three months ended March 31, 2025, with FPL contributing $3,997 million and NEER contributing $2,163 million[27]. - The company incurred total operating expenses of $4,027 million, with fuel, purchased power, and interchange costs amounting to $1,165 million[27]. - NextEra Energy's net income attributable to the company was $833 million, translating to earnings per share of $0.40[27]. - Adjusted earnings for NextEra Energy were reported at $2,038 million, with an adjusted earnings per share of $0.99[27]. - The company experienced net losses associated with non-qualifying hedges amounting to $688 million, impacting overall financial performance[28]. - XPLR Infrastructure, LP investment gains contributed $855 million to the adjusted earnings, reflecting strong performance in this segment[27]. - NextEra Energy's interest expense totaled $1,774 million, indicating significant financial obligations[27]. - The company faced a net loss of $655 million from equity method investees, highlighting challenges in this area[27]. - NextEra Energy's total other income deductions were reported at $2,313 million, affecting the overall income before taxes[27]. Capital Expenditures and Investments - FPL's capital expenditures for Q1 2025 were approximately $2.4 billion, with full-year capital investments expected between $8 billion and $8.8 billion[5]. - FPL added 894 megawatts of new solar capacity in Q1 2025, increasing its total solar portfolio to over 7.9 gigawatts, the largest utility-owned solar portfolio in the U.S.[6]. - NextEra Energy Resources added approximately 3.2 gigawatts of new renewables and storage to its backlog, bringing the total backlog to roughly 28 gigawatts[12]. - FPL's Ten-Year Site Plan projects the need for over 17 gigawatts of cost-effective solar generation and over 7.6 gigawatts of battery storage over the next 10 years[10]. - Capital expenditures for FPL were $2,341 million, and independent power and other investments of NEER totaled $5,441 million[38]. - The net cash used in investing activities was $9,321 million, indicating significant capital allocation towards growth initiatives[40]. Future Projections - NextEra Energy expects adjusted earnings per share for 2025 to be in the range of $3.45 to $3.70, with growth projections for 2026 and 2027 at $3.63 to $4.00 and $3.85 to $4.32, respectively[14]. - FPL's proposed base rate adjustments include a request for approximately $1.545 billion starting in January 2026, with additional adjustments in subsequent years[7]. - FPL's typical residential customer bill is projected to grow at an average rate of about 2.5% from January 2025 through the end of 2029, remaining approximately 25% below the projected national average[9]. - The company anticipates FPL's earnings per share to increase to $0.64 in 2025, indicating growth expectations[42]. Assets and Liabilities - Total current assets amounted to $12.648 billion, while total assets reached $194.264 billion as of March 31, 2025[33]. - Total liabilities were reported at $133.898 billion, with long-term debt comprising $79.814 billion[33]. - NextEra Energy's cash and cash equivalents stood at $2.419 billion, indicating strong liquidity[33]. - The company’s customer receivables, net of allowances, were $3.153 billion, reflecting robust revenue collection capabilities[33]. - Total current assets amounted to $11,951 million, with cash and cash equivalents at $1,487 million and customer receivables at $3,336 million[35]. - Total liabilities reached $129,283 million, with long-term debt comprising $72,385 million and current liabilities at $25,355 million[35]. - Total common shareholders' equity was $50,101 million, with retained earnings at $32,946 million[35]. Operational Challenges - The company emphasized the importance of risk management tools to mitigate operational risks and market volatility, particularly in energy markets[25]. - The company reported unrealized losses on marked-to-market derivative contracts of $964 million[38]. - The company experienced unrealized losses on marked to market derivative contracts of $351 million, impacting overall financial performance[40]. - Corporate and Other reported a loss per share of $0.32 for 2025, reflecting challenges in that segment[42].