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NEXTERA ENERGY

(NEE)
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NextEra 3Q Profit Tops Expectations

10/21/2020 | 08:30am EDT

By Dieter Holger

NextEra Energy Inc. profit grew above Wall Street's expectations in the latest quarter though sales came below forecasts and there was a decline in earnings among its renewable-energy division.

The Juno Beach, Fla.-based power provider on Wednesday reported third-quarter earnings of $1.23 billion, or $2.50 a share, up from $879 million, or $1.81 a share, a year ago.

Adjusted earnings were $2.66 a share, rising from $2.39 last year. Analysts polled by FactSet expected adjusted earnings of $2.59 a share.

NextEra Energy Resources, the company's renewable-energy division, was the only segment to post a decline in profit to $376 million compared with $381 million in the previous year. But the company said it added a record-high 2,200 megawatts worth of orders to its backlog in the quarter.

Operating revenues at NextEra fell to $4.79 billion in the quarter, down from $5.57 billion in the previous year. Analysts had expected higher sales of $5.4 billion.

NextEra, which is the biggest rate-regulated electric utility in the U.S., has sought a $60 billion takeover of Duke Energy Corp. that was rebuffed, The Wall Street Journal reported in late September.

Write to Dieter Holger at dieter.holger@wsj.com

(END) Dow Jones Newswires

10-21-20 0829ET

Stocks mentioned in the article
ChangeLast1st jan.
DUKE ENERGY CORPORATION 0.59% 102.53 Delayed Quote.11.98%
NEXTERA ENERGY -0.24% 73.31 Delayed Quote.-4.98%
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Financials (USD)
Sales 2021 20 138 M - -
Net income 2021 4 918 M - -
Net Debt 2021 51 449 M - -
P/E ratio 2021 28,8x
Yield 2021 2,10%
Capitalization 144 B 144 B -
EV / Sales 2021 9,70x
EV / Sales 2022 9,28x
Nbr of Employees 14 900
Free-Float 99,9%
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Technical analysis trends NEXTERA ENERGY
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 87,58 $
Last Close Price 73,31 $
Spread / Highest target 37,8%
Spread / Average Target 19,5%
Spread / Lowest Target 2,31%
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Managers and Directors
NameTitle
James L. Robo Chairman, President & Chief Executive Officer
Rebecca Jones Kujawa Chief Financial Officer & Executive Vice President
W. Scott Seeley Secretary & Vice President-Compliance
James Lawrence Camaren Independent Director
Sherry S. Barrat Lead Independent Director
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