NextEra Energy 4Q Revenue Beats Expectations, Bullish on Results in 2024 and Beyond
By Denny Jacob
NextEra Energy posted better-than-expected revenue in the latest quarter and struck a bullish tone for future year results.
The renewable energy provider logged net income of $1.21 billion, or 59 cents a share, for the fourth quarter ended Dec. 31, down from $1.52 billion, or 76 cents a share, a year earlier. Adjusted earnings were 52 cents a share, above analysts' estimates of 49 cents.
Revenue rose to $6.88 billion from $6.16 billion. Analysts polled by FactSet were expecting $5.72 billion.
NextEra Energy forecast adjusted earnings per-share in the range of $3.23 to $3.43 in 2024. Analysts polled by FactSet had expected $3.40 a share.
For 2025 and 2026, the company expects to grow 6% to 8% off the 2024 adjusted earnings per-share range. This translates to a range of $3.45 to $3.70 a share in adjusted earnings for 2025, and $3.63 to $4 a share in adjusted earnings for 2026. Analysts polled by FactSet expect adjusted earnings per-share of $3.65 and $3.92 in 2025 and 2026, respectively.
"Given the strength of both businesses, we will be disappointed if we are not able to deliver financial results at or near the top of our adjusted-earnings-per-share expectations ranges in each year through 2026," said Chief Executive John Ketchum.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 25, 2024 08:04 ET (13:04 GMT)
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