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NextEra Energy 2Q Profit Declines on Lower Revenue

By Matt Grossman

 

NextEra Energy Inc. on Friday posted lower operating revenue and earnings year over year in the second quarter and reiterated its full-year earnings guidance.

The Juno Beach, Fla.-based utility posted earnings attributable to the company of 13 cents a share, a decline from 65 cents a share a year earlier. The total net income attributable to the company was $256 million, compared with $1.28 billion in 2020's second quarter.

Stripping out one-time items, NextEra's adjusted earnings were 71 cents a share. Analysts were expecting adjusted earnings of 70 cents a share, according to FactSet.

Revenue was $3.93 billion. A year earlier, NextEra's revenue was $4.2 billion.

FPL, the utility's largest business segment, posted earnings of 42 cents a share on revenue of $3.22 billion, up from 38 cents a share in the prior-year quarter.

NextEra Energy Resources, the clean energy business, reported a loss of 16 cents a share, compared with a profit of 24 cents a share in the prior-year quarter.

NextEra reiterated its previous full-year adjusted earnings guidance of $2.40 a share to $2.54 a share.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

July 23, 2021 08:04 ET (12:04 GMT)

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