Earnings Conference Call
Third Quarter 2018
October 23, 2018
Cautionary Statements And Risk Factors That May Affect Future Results
This presentation includes forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward-looking statements. The factors that could cause actual results to differ are discussed in the Appendix herein and in NextEra Energy's and NextEra Energy Partners' SEC filings.
Non-GAAP Financial Information
This presentation refers to certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles. Reconciliations of historical non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the Appendix herein.
NextEra Energy achieved strong financial results in the third quarter
NextEra Energy
Third Quarter 2018 Highlights
• NEE grew adjusted EPS ~18% versus the prior comparable quarter - ~14% increase year-to-date versus 2017
• Continued strong execution at FPL - Achieved 2018 target regulatory ROE of 11.6% - Regulatory capital employed growth of ~13% versus Q3 2017
• Completed the acquisition of Florida City Gas
• Acquisitions of Gulf Power and natural gas plants continue to progress well
- FERC change of control proceedings are now uncontested and FTC granted early termination of the Hart-Scott-Rodino Antitrust waiting period
- Gulf Power transaction expected to close in first half of 2019
• A record period of renewables origination at Energy Resources, adding nearly 2,100 MW to backlog
- Includes ~650 MW of wind repowering, 120 MW of battery storage projects
- First combined wind, solar and battery storage transaction, including largest combined solar and storage facility in the U.S. announced to date
FPL's earnings per share increased 18 cents from the prior- year comparable quarter
Florida Power & Light Results - Third Quarter
Net Income
($ MM)
$566
EPS
$654
$1.37
$1.19
2017
2018
2017
2018
Continued investment in the business was the primary driver of growth at FPL
Florida Power & Light EPS Contribution Drivers
EPS Growth
Regulatory Capital Employed(1)
(Excluding Accumulated Deferred Income Taxes)
Third Quarter | |
FPL - 2017 EPS Drivers: Investments Base Revenues/Cost Management Wholesale Operations Other, including Share Dilution | $1.19 $0.10 $0.04 $0.03 $0.01 |
FPL - 2018 EPS | $1.37 |
$B
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0
Q3 2017
Retail Rate BaseQ3 2018Other
1) 4 month average; includes retail rate base, wholesale rate base, clause-related investments, and AFUDC projects; Q3 2017 and Q3 2018 reflect adjustments related to removal of accumulated deferred income taxes of $7.9 B and $8.3 B, respectively
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NextEra Energy Partners LP published this content on 23 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 October 2018 11:42:09 UTC