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MarketScreener Homepage  >  Equities  >  Nyse  >  NextEra Energy    NEE

NEXTERA ENERGY

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NextEra Energy : Records Larger 2Q Profit

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07/24/2020 | 09:25am EDT

By Matt Grossman

 

NextEra Energy Inc. on Friday recorded a higher second-quarter profit compared with last year's as the Juno Beach, Fla.-based utility reported minimal effects from the Covid-19 pandemic.

NextEra recorded a second-quarter profit of $1.28 billion, or $2.59 a share, compared with a profit of $1.13 billion, or $2.56 a share, in the same three-month period a year earlier.

On an adjusted basis, NextEra's profit was $2.61 a share. Analysts polled by FactSet had forecast an adjusted profit of $2.50.

Revenue in the quarter was $4.2 billion, down from $4.97 billion in the second quarter of 2019. Analysts had expected revenue of $5.17 billion.

In the quarter, net income for the company's Florida Power & Light Co. subsidiary grew 13% year over year, to $749 million. NextEra's Gulf Power Co. subsidiary saw income grow 22%, to $55 million. Gulf Power reported a 1-cent-a-share effect from the coronavirus pandemic, as the company accounted for the $5 million expected effect of incremental bad-debt expense.

NextEra said it plans to merge the two subsidiaries in January, pending regulatory approval.

 

Write to Matt Grossman at matt.grossman@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
NEXTERA ENERGY -1.08% 73.21 Delayed Quote.20.93%
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Financials (USD)
Sales 2020 19 688 M - -
Net income 2020 3 918 M - -
Net Debt 2020 48 489 M - -
P/E ratio 2020 36,2x
Yield 2020 1,91%
Capitalization 145 B 145 B -
EV / Sales 2020 9,83x
EV / Sales 2021 9,35x
Nbr of Employees 14 800
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 77,75 $
Last Close Price 73,21 $
Spread / Highest target 17,5%
Spread / Average Target 6,20%
Spread / Lowest Target -12,6%
EPS Revisions
Managers
NameTitle
James L. Robo Chairman, President & Chief Executive Officer
Rebecca Jones Kujawa Chief Financial Officer & Executive VP-Finance
James Lawrence Camaren Independent Director
Sherry S. Barrat Lead Independent Director
Rudy Everett Schupp Independent Director
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