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NEXTERA ENERGY

(NEE)
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NextEra Energy 1Q Adjusted Earnings Beat Wall Street Views

04/21/2021 | 06:10am EDT

By Micah Maidenberg

NextEra Energy Inc. reported a better-than-expected adjusted profit in the first quarter as the company continued to invest in renewable energy assets.

The utility operator and renewable-power company Wednesday said it earned net income attributable to the company of $1.67 billion, up from $421 million a year earlier.

Profit on a per-share basis increased to 84 cents from 21 cents. Following adjustments, NextEra's earnings amounted to 67 cents a share, it said.

Revenue of $3.73 billion was down from $4.61 billion, the company said.

Analysts had expected the company to earn 61 cents a share in adjusted profit on $4.87 billion in revenue, according to FactSet.

The Juno Beach, Fla.-based company said net income from its Florida Power & Light business rose to $720 million from $642 million a year earlier.

The company's competitive renewable-energy business generated $598 million in adjusted profit in the quarter, up from $529 million, it said.

That business continued to add renewable-energy assets. It completed, for example, a deal to buy a company that owns about 700 miles of high-voltage transmission lines in the first quarter.

Revenue at the renewables business amounted to $781 million in the first quarter, down from $1.77 billion, the company said. That decline accounts for why the company missed expectations from analysts for overall company revenue in the period.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

04-21-21 0810ET

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ChangeLast1st jan.
NEXTERA ENERGY 0.70% 74.53 Delayed Quote.-3.40%
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Financials (USD)
Sales 2021 20 333 M - -
Net income 2021 4 917 M - -
Net Debt 2021 50 634 M - -
P/E ratio 2021 29,3x
Yield 2021 2,07%
Capitalization 146 B 146 B -
EV / Sales 2021 9,68x
EV / Sales 2022 9,29x
Nbr of Employees 14 900
Free-Float 99,7%
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Technical analysis trends NEXTERA ENERGY
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 87,79 $
Last Close Price 74,53 $
Spread / Highest target 35,5%
Spread / Average Target 17,8%
Spread / Lowest Target -3,39%
EPS Revisions
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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