NextEra tops Q1 profit estimates; new renewables projects post second best quarter [Seeking Alpha]
NextEra Energy, Inc. (NEE)
Last nextera energy, inc. earnings: 4/22 07:30 am
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Q1 net profit rose to $2.27B, or $1.10/share, from $2.09B, or $1.04/share, in the year-earlier quarter, but revenues dropped to $5.73M from $6.72B a year ago, with revenues at the NextEra Energy Resources unit tumbling to $1.86B from $2.79B and the Florida Power & Light regulated utility unit edging lower to $3.83B from $3.92B a year ago. NextEra's ( NEE ) clean energy unit added nearly 2,765 MW of new renewable and storage projects in Q1, marking its second-best quarter for growth in the renewables division, but net income fell to $966M, or $0.47/share, from $1.44B, or $0.72/share, in the year-ago period. Results at Florida Power & Light, which generates most of its electricity from natural gas, was helped by nat gas prices that fell by roughly a third YTD; the utility also added 100K customers over the same quarter last year. "We believe the U.S. renewables and storage market opportunity has the potential to be three times bigger over the next seven years compared to the last
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News
- NextEra Energy, Inc. (NYSE: NEE) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
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NEE
Earnings
- 4/24/24 - Beat
NEE
Sec Filings
- 5/1/24 - Form PX14A6G
- 4/5/24 - Form 4
- 4/1/24 - Form ARS
- NEE's page on the SEC website