Here's What Key Metrics Tell Us About NextEra (NEE) Q2 Earnings

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].