NextEra Energy Q2 Earnings Top Estimates

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NextEra Energy Inc
NEE
reported stronger-than-expected results for its second quarter. The Juno Beach, Florida-based company reported quarterly earnings of $716 million, or $1.59 per share, versus $492 million, or $1.12 per share, in the year-ago period. Excluding items, the company's earnings climbed to $1.56 per share from $1.43 per share. Its revenue climbed to $4.36 billion from $4.03 billion. However, analysts were expecting earnings of $1.50 per share on revenue of $4.24 billion. The company's profit at Florida Power & Light Company climbed to $435 million from $423 million, while profit at NextEra Energy Resources surged to $273 million from $81 million. The company's board approved a new dividend policy and declared a quarterly dividend of $0.77 per share. "NextEra Energy delivered another quarter of strong operational performance and financial results, highlighted by 9 percent adjusted earnings per share growth over the comparable prior-year quarter," said Jim Robo, chairman and chief executive officer of NextEra Energy. "FPL performed very well operationally during the quarter, continued to invest in the business to deliver even more value to customers and received regulatory approval to pursue future investments in natural gas production that can help protect its customers against future price volatility." NextEra backed its earnings forecast of $5.40 to $5.70 per share for 2015. The company now expects 2016 earnings of $5.85 to $6.35 per share, versus earlier outlook of $5.75 to $6.25 per share. For 2018, NextEra projects earnings of $6.60 to $7.10 per share. NextEra Energy shares rose 0.30 percent to close at $105.20 yesterday.
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Posted In: EarningsNewsGuidanceprofit
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