NextEra Energy 4Q Revenue Beats Expectations, Bullish on Results in 2024 and Beyond
January 25 2024 - 8:19AM
Dow Jones News
By Denny Jacob
NextEra Energy posted better-than-expected revenue in the latest
quarter and struck a bullish tone for future year results.
The renewable energy provider logged net income of $1.21
billion, or 59 cents a share, for the fourth quarter ended Dec. 31,
down from $1.52 billion, or 76 cents a share, a year earlier.
Adjusted earnings were 52 cents a share, above analysts' estimates
of 49 cents.
Revenue rose to $6.88 billion from $6.16 billion. Analysts
polled by FactSet were expecting $5.72 billion.
NextEra Energy forecast adjusted earnings per-share in the range
of $3.23 to $3.43 in 2024. Analysts polled by FactSet had expected
$3.40 a share.
For 2025 and 2026, the company expects to grow 6% to 8% off the
2024 adjusted earnings per-share range. This translates to a range
of $3.45 to $3.70 a share in adjusted earnings for 2025, and $3.63
to $4 a share in adjusted earnings for 2026. Analysts polled by
FactSet expect adjusted earnings per-share of $3.65 and $3.92 in
2025 and 2026, respectively.
"Given the strength of both businesses, we will be disappointed
if we are not able to deliver financial results at or near the top
of our adjusted-earnings-per-share expectations ranges in each year
through 2026," said Chief Executive John Ketchum.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 25, 2024 08:04 ET (13:04 GMT)
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