By Dean Seal
NextEra Energy Inc. reported a higher profit in the fourth quarter on higher revenue, though its top line didn't meet analyst expectations.
The Juno Beach, Fla.-based utility posted a profit of $1.52 billion, or 76 cents a share, compared with a profit of $1.2 billion, or 61 cents a share, a year earlier.
Stripping out nonqualifying hedges, adjusted earnings came in at 51 cents a share. Analysts polled by FactSet had been expecting 49 cents a share.
Operating revenue climbed to $6.16 billion from $5.05 billion, below analyst expectations of $6.3 billion, according to FactSet.
Florida Power & Light, the company's largest business segment and the largest electric utility in the U.S., reported revenue of $4.07 billion, up from $3.43 billion in the fourth quarter of 2021.
The company's clean-energy business, NextEra Energy Resources, logged $2.09 billion in revenue, up from $1.63 billion a year earlier.
Shares slipped 1.2% to $82.86 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
01-25-23 0809ET