01—Abstract
Summary
Summary of the 10-K filed February 15, 2019. Cited figures are marked; the original filing is the authoritative source.
NextEra Energy, Inc. (NEE) reported strong performance in its 2018 10-K filing, driven by its two principal businesses: Florida Power & Light (FPL) and NextEra Energy Resources (NEER).
FPL, Florida's largest electric utility, continued to invest in its generation, transmission, and distribution infrastructure, focusing on low bills, high reliability, and clean energy solutions. NEER solidified its position as the world's largest generator of renewable energy from wind and sun, emphasizing the development and operation of long-term contracted assets. The company also highlighted the recent acquisition of Gulf Power in January 2019, a strategic move to expand its regulated utility operations in Florida.
Management believes the diversification and balance between FPL's stable utility operations and NEER's growth in renewables offer a valuable characteristic for the enterprise, contributing to its overall financial strength. Investors can note the company's commitment to growth and efficiency through enterprise-wide initiatives aimed at productivity improvements.
02—Key points
Key Highlights
- NEE operates two primary businesses: FPL, a major Florida electric utility, and NEER, a leading global generator of renewable energy.
- FPL focuses on infrastructure investment to deliver low bills, high reliability, and clean energy to over five million customers.
- NEER is the world's largest producer of wind and solar energy, developing long-term contracted assets across North America and Spain.
- The company completed the acquisition of Gulf Power in January 2019, expanding its regulated utility footprint in northwest Florida.
- NEE is committed to enterprise-wide initiatives for productivity and cost efficiency across both FPL and NEER.
- The company has a strong track record of profitable growth across its business segments.
- NEE's strategy aims to leverage the diversification and balance between its regulated utility and competitive energy businesses.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2018filed February 15, 2019Financial Statements
FY2018 against FY2017
| Line item | FY2018FY2017 | Change |
|---|---|---|
| Revenue | $15.40B— | — |
| Operating Expenses | $12.53B$12.00B | +4.4% |
| Operating Income | $4.28B$5.17B | −17.3% |
| Net Income | $6.64B$5.38B | +23.4% |
| EPS (Basic) | $3.51$2.87 | +22.3% |
| EPS (Diluted) | $3.47$2.85 | +21.9% |
| Shares Outstanding (Basic) | 1.89B1.88B | +0.9% |
| Shares Outstanding (Diluted) | 1.91B1.89B | +0.9% |
05—Questions
Frequently Asked Questions
What are NEE's main business segments?
NEE's principal businesses are Florida Power & Light (FPL), a regulated electric utility serving Florida, and NextEra Energy Resources (NEER), a competitive energy company focused on renewable energy generation and other energy infrastructure assets.
What was a significant recent development for NEE?
In January 2019, NEE completed the acquisition of Gulf Power, a rate-regulated electric utility operating in northwest Florida, expanding its regulated utility operations.
What is NEER's position in the renewable energy market?
NEER is recognized as the world's largest generator of renewable energy from wind and sun, based on MWh produced on a net generation basis in 2018.
How does NEE manage its operations?
NEE employs enterprise-wide initiatives focused on improving productivity and process effectiveness to create efficiencies across both FPL and NEER, leveraging a common platform for cost reduction.
06—Continue