NextEra Gets Boost From 'Strong Tailwinds,' Sees Solid Earnings Ahead

NextEra Energy (NEE) shares precocious successful intraday trading Wednesday arsenic nan renewable power supplier reported better-than-expected adjusted profit arsenic it benefited from "strong tailwinds" and gave a affirmative outlook.

The institution posted second-quarter adjusted earnings per stock (EPS) of $0.96, $0.06 amended than nan mean of analysts surveyed by Visible Alpha. Operating revenue fell to $6.07 cardinal from $7.35 cardinal a twelvemonth ago, missing forecasts of $7.03 billion.

Net income astatine its Florida Power & Light subsidiary accrued by $80 cardinal to $1.23 billion, chiefly driven by continued finance successful nan business. Net income astatine its NextEra Energy Resources portion roseate connected an adjusted ground by $84 cardinal to $865 cardinal arsenic it accrued powerfulness production, pinch immoderate of that coming done an statement pinch Alphabet’s (GOOGL) Google to meet information halfway powerfulness demand.

Chief Executive Officer (CEO) John Ketchum said those "strong tailwinds" are creating "opportunities to switch little businesslike and much costly powerfulness generation, arsenic good arsenic adhd caller procreation to meet increasing powerfulness request crossed sectors." He based on that NextEra’s competitory advantages put it astatine nan halfway of those opportunities. 

CEO Expects Strong Adjusted Profit Through 2027

Ketchum added nan institution "will beryllium disappointed if we are not capable to present financial results astatine aliases adjacent nan apical of our adjusted net per stock expectations ranges each twelvemonth done 2027, while maintaining our beardown equilibrium expanse and in installments ratings." 

NextEra affirmed its earlier guidance for nan adjacent 4 fiscal years.

Shares of NextEra Energy roseate 4.1% to $75.10 arsenic of 3 p.m. ET Wednesday and are up astir 24% year-to-date.