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NEE · NEXTERA ENERGY INC

50 filings

10-Q

NEE 10-Q Quarterly Reports

NEXTERA ENERGY INC - 50 quarterly reports

Filing record · 2016–202610-K1110-Q338-K225

NEE filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 225 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jul ’18Jul ’18
  2. Material agreement8-K · Dec ’20Dec ’20
  3. Leadership change8-K · Jan ’23Jan ’23
  4. Leadership change8-K · Mar ’25Mar ’25
  1. 2026-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2026

    NextEra Energy, Inc. (NEE) reported a significant increase in net income attributable to NEE for the nine months ended September 30, 2026, reaching $10.1 billion, up from $5.3 billion in the prior year period. This growth was driven by strong performance across both its Florida Power & Light (FPL) and NextEra Energy Resources (NEER) segments, as well as favorable non-qualifying hedge activity and the absence of an impairment charge related to the XPLR investment that impacted the prior year. FPL's net income benefited from ongoing investments in plant in service, contributing to an increased average rate base. NEER's performance was bolstered by higher earnings from new and existing energy assets, alongside positive contributions from its natural gas and oil production operations. The company also highlighted significant capital expenditure plans, with substantial investments projected for renewable energy projects, including wind, solar, and battery storage, underscoring its commitment to future growth in clean energy. Liquidity remains strong, with substantial revolving credit facilities and cash on hand, positioning NEE to fund its ambitious growth objectives.

    Oct 21, 2026
  2. 2026-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2026

    NextEra Energy, Inc. (NEE) reported strong financial performance for the six months ended June 30, 2026, with net income attributable to NEE soaring to $5.33 billion, a significant increase from $2.86 billion in the prior year period. This growth was driven by robust results from both its regulated utility segment, Florida Power & Light Company (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL demonstrated solid performance, with net income up primarily due to continued investments in its infrastructure and a stable regulatory environment. NEER also contributed substantially, benefiting from new investments, favorable non-qualifying hedge activity, and the absence of a significant impairment charge recorded in the prior year. The company also highlighted significant ongoing capital expenditure plans, particularly in renewable energy projects, and a strong liquidity position. Investors should note the proposed merger with Dominion Energy, which is progressing and subject to shareholder and regulatory approvals. While the financial results are positive, ongoing regulatory proceedings for FPL and the inherent risks associated with NEER's competitive energy business, including commodity price fluctuations and interest rate sensitivity, warrant attention.

    Jul 24, 2026
  3. 2026-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2026

    NextEra Energy, Inc. (NEE) reported a significant increase in net income attributable to NEE for the first quarter of 2026, rising to $2.18 billion ($1.04 per diluted share) from $833 million ($0.40 per diluted share) in the prior year period. This strong performance was driven by robust contributions from both its regulated utility, Florida Power & Light (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL's net income saw a substantial increase, largely due to continued investments in its rate base and the favorable impact of regulatory mechanisms like the Rate Stabilization Mechanism (RSM). NEER's results were boosted by the absence of a significant impairment charge recorded in the prior year related to its investment in XPLR, along with gains from asset sales and higher earnings from new investments. The company also highlighted its ongoing capital expenditure plans, with significant investments projected for both FPL and NEER in the coming years to support growth and infrastructure development.

    Apr 23, 2026
  4. 2025-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2025

    NextEra Energy, Inc. (NEE) reported its third-quarter 2025 financial results, showcasing a notable increase in net income attributable to NEE, primarily driven by improved performance at its Florida Power & Light (FPL) subsidiary and contributions from its renewable energy division (NEER). For the three months ended September 30, 2025, net income attributable to NEE rose to $2.438 billion ($1.18 per diluted share) from $1.852 billion ($0.90 per diluted share) in the prior year period. This growth reflects ongoing investments in FPL's rate base and continued development of NEER's clean energy projects. While the overall financial picture is positive, investors should note the nine-month period saw a decrease in net income attributable to NEE, largely due to an impairment charge related to an equity method investment in XPLR and higher financing costs within NEER. Despite this, the company continues to execute its growth strategy, with substantial capital expenditure plans for both its utility and competitive energy businesses, underscoring its commitment to expanding its clean energy portfolio and maintaining its regulated utility operations.

    Oct 28, 2025
  5. 2025-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2025

    NextEra Energy, Inc. (NEE) reported increased net income for the second quarter of 2025 compared to the same period in 2024, driven by strong performance at its Florida Power & Light (FPL) subsidiary and improved results from its energy resources segment (NEER). For the six-month period, however, net income attributable to NEE decreased primarily due to an impairment charge related to an equity method investment in XPLR and higher interest expenses within NEER, partially offset by solid contributions from FPL. The company continues to invest heavily in its regulated utility operations and renewable energy generation, with substantial capital expenditure plans outlined for the next several years. Liquidity remains strong, supported by significant credit facilities and operating cash flows, enabling continued investment in growth and dividend payments.

    Jul 23, 2025
  6. 2025-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2025

    NextEra Energy, Inc. (NEE) reported a significant decrease in net income attributable to NEE for the three months ended March 31, 2025, compared to the prior year. This decline was primarily driven by a substantial impairment charge related to the investment in XPLR, unfavorable changes in the fair value of equity securities held in nuclear decommissioning funds, and adverse non-qualifying hedge activities within the NEER segment. FPL, on the other hand, demonstrated a solid increase in net income, supported by ongoing investments in its infrastructure and operational efficiency. Despite the overall decrease in consolidated net income, NEE continues to execute its long-term strategy, with substantial capital expenditure plans for both FPL and NEER. FPL is focused on enhancing its electric system and generation capacity, while NEER is expanding its renewable energy and battery storage projects. The company maintains a strong liquidity position, with significant available credit facilities and cash on hand, positioning it to fund its growth initiatives and meet its financial obligations. Investors should monitor the impact of ongoing regulatory proceedings for FPL and the performance of NEER's renewable energy projects.

    Apr 23, 2025
  7. 2024-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2024

    NextEra Energy Inc. (NEE) reported solid financial results for the nine months ending September 30, 2024, with net income attributable to NEE of $5.74 billion, a decrease from $6.10 billion in the prior year period. This decrease was primarily driven by lower results in 'Corporate and Other' due to unfavorable non-qualifying hedge activity, partly offset by higher results at Florida Power & Light (FPL) and NextEra Energy Resources (NEER). FPL's performance was robust, with net income attributable to NEE increasing due to continued investments in its plant in service. NEER's results also saw an improvement, largely benefiting from the absence of a significant impairment charge recorded in the prior year related to its investment in NEP, along with higher earnings from new investments. Investors should note the ongoing significant capital expenditure plans for both FPL and NEER, with substantial investments projected over the next several years in generation, transmission, and distribution infrastructure.

    Oct 23, 2024
  8. 2024-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2024

    NextEra Energy, Inc. (NEE) reported mixed financial results for the quarter ending June 30, 2024, with a notable decrease in net income attributable to NEE compared to the prior year's second quarter. While Florida Power & Light (FPL) demonstrated improved net income driven by investments in its rate base, the competitive energy business, NextEra Energy Resources (NEER), experienced a significant decline, primarily due to unfavorable non-qualifying hedge activity and lower earnings from gas infrastructure. This segment's performance heavily impacted overall consolidated results, leading to a substantial year-over-year drop in net income attributable to NEE. Despite the quarterly dip in net income, the company highlighted substantial operating cash flows and maintained a strong liquidity position. Capital expenditures remain robust, reflecting continued investment in FPL's infrastructure and NEER's renewable energy projects. The company also reaffirmed its commitment to growth, with significant capital expenditure plans extending through 2028, focusing on generation, transmission, and distribution infrastructure.

    Jul 24, 2024
  9. 2024-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2024

    NextEra Energy, Inc. (NEE) reported solid financial results for the first quarter of 2024. Net income attributable to NEE rose by $182 million year-over-year to $2.27 billion, with diluted earnings per share increasing to $1.10 from $1.04 in the prior year period. This growth was primarily driven by stronger performance at its Florida Power & Light (FPL) subsidiary, which benefited from continued investments in its infrastructure, and a favorable swing in non-qualifying hedge activity within Corporate and Other segments. While NEER's results saw a decrease primarily due to less favorable non-qualifying hedge activity compared to the strong prior year, the segment still contributed significantly to overall earnings, boosted by new investments. The company's strong operational cash flow generation of $3.08 billion underpins its financial stability, enabling substantial capital expenditures and dividend payments. NEE maintains robust liquidity, with approximately $10.8 billion in net available liquidity as of March 31, 2024, supporting its ongoing growth initiatives and operational needs.

    Apr 23, 2024
  10. 2023-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2023

    NextEra Energy, Inc. (NEE) reported its third-quarter and nine-month results for 2023, showing mixed performance across its segments. While Florida Power & Light (FPL) demonstrated consistent growth driven by investments in its rate base, the competitive energy segment (NEER) experienced a significant decline in net income for the quarter, largely due to a substantial impairment charge related to its investment in NEP. This impairment, along with unfavorable non-qualifying hedge activity, overshadowed growth from new investments within NEER. Despite the challenges at NEER, the consolidated company saw an increase in net income for the nine-month period compared to the prior year, primarily due to improved results at NEER driven by favorable hedging activities and lower impairment charges, alongside continued growth at FPL. The company maintains a strong liquidity position and is actively investing in growth projects across both regulated and competitive segments. Investors should note the significant impact of the NEP impairment on quarterly results and monitor the performance of NEER's hedging activities and new project pipeline.

    Nov 7, 2023
  11. 2023-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2023

    NextEra Energy, Inc. (NEE) reported strong financial results for the second quarter and first half of 2023, with net income attributable to NEE increasing significantly compared to the same periods in 2022. This growth was primarily driven by robust performance from both its regulated utility subsidiary, Florida Power & Light Company (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL benefited from continued investments in its rate base and the addition of new generation capacity, while NEER saw improved results due to favorable commodity hedging activities, new clean energy investments, and strong performance in its customer supply and trading businesses. The company's overall financial health remains solid, supported by substantial operating cash flows and access to credit markets, enabling continued investment in growth projects and dividends to shareholders. Key financial highlights include a substantial increase in operating revenues and net income, driven by both FPL's rate base growth and NEER's renewable energy expansion. Despite higher interest expenses, the company managed its debt effectively and maintained a strong liquidity position. NEE's commitment to renewable energy and infrastructure investments positions it well for future growth. Investors should note the company's continued focus on expanding its clean energy portfolio and its ability to navigate market volatility through its hedging strategies.

    Jul 26, 2023
  12. 2023-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2023

    NextEra Energy, Inc. (NEE) reported a significant turnaround in its financial performance for the first quarter of 2023 compared to the same period in the prior year. The company achieved a net income attributable to NEE of $2.086 billion, a substantial improvement from a net loss of $451 million in Q1 2022. This was driven by strong operational results from both its regulated utility, Florida Power & Light (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL demonstrated robust performance with net income of $1.070 billion, up from $875 million in the prior year, largely due to ongoing investments in its infrastructure. NEER also rebounded strongly, reporting a net income of $1.440 billion compared to a loss of $1.499 billion in Q1 2022, benefiting from favorable non-qualifying hedge activity, reduced impairment charges related to its Mountain Valley Pipeline investment, and growth from new clean energy projects. Operationally, NEE saw a notable increase in operating revenues to $6.716 billion from $2.890 billion in the prior year, reflecting higher energy prices and increased generation from renewable sources. Cash flows from operating activities remained strong at $1.673 billion. The company continues to invest heavily in its future growth, with capital expenditures totaling $7.245 billion, primarily directed towards FPL's infrastructure expansion and NEER's renewable energy projects. Despite significant investments and debt issuances to fund these initiatives, NEE maintained a strong liquidity position with approximately $14.1 billion in net available liquidity at quarter-end.

    Apr 26, 2023
  13. 2022-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2022

    NextEra Energy, Inc. (NEE) reported a significant increase in net income attributable to NEE for the three and nine months ended September 30, 2022, compared to the prior year. This improvement was driven by strong performance across its major segments, particularly Florida Power & Light (FPL) and NextEra Energy Resources (NEER), despite some unfavorable market impacts in NEER. FPL's growth was fueled by substantial investments in its rate base, while NEER benefited from favorable non-qualifying hedge activity and new investments, although it also faced challenges from market fluctuations and an impairment charge on its Mountain Valley Pipeline investment. The company's balance sheet shows substantial growth in total assets, reflecting ongoing capital expenditures in property, plant, and equipment, particularly for renewable energy projects. Cash flows from operating activities also saw a healthy increase, providing robust funding for investing activities, which include significant capital expenditures for both FPL and NEER's renewable energy initiatives. Financing activities involved a notable increase in long-term debt issuances and equity unit offerings, supporting the company's growth strategy and dividend payments.

    Nov 3, 2022
  14. 2022-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2022

    NextEra Energy, Inc. (NEE) reported a mixed financial performance for the second quarter and first half of 2022. While consolidated net income attributable to NEE saw a significant increase for the three months ended June 30, 2022, driven by improved results at FPL and NEER, the six-month period showed a decrease, largely due to impacts at NEER. FPL's performance remained robust, with increased net income driven by investments in infrastructure and growth in rate base. NEER's results were more volatile, impacted by significant non-qualifying hedge activity, changes in the fair value of nuclear decommissioning funds, and a substantial impairment charge related to the Mountain Valley Pipeline investment. Despite these fluctuations, NEE maintained strong liquidity, with significant available credit facilities and cash on hand, supporting its ongoing capital expenditure plans for both regulated and competitive energy businesses.

    Jul 27, 2022
  15. 2022-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2022

    NextEra Energy, Inc. (NEE) reported a net loss attributable to NEE of $451 million, or $(0.23) per share, for the first quarter of 2022, a significant decrease compared to a net income of $1,666 million, or $0.84 per share, in the prior year period. This decline was primarily driven by unfavorable non-qualifying hedge activity, an impairment charge related to the Mountain Valley Pipeline investment, and changes in the fair value of equity securities held in NEER's nuclear decommissioning funds. Despite the overall loss, Florida Power & Light Company (FPL), a subsidiary, demonstrated strong performance, with net income increasing to $875 million, driven by investments in plant in service and other property. Operationally, NEE's cash flow from operating activities increased to $1,962 million, providing solid liquidity. However, the company is actively managing significant derivative positions, with substantial mark-to-market assets and liabilities. The company also outlined significant capital expenditure plans, totaling approximately $38.3 billion for FPL and $11.2 billion for NEER through 2026, emphasizing continued investment in infrastructure and renewable energy projects. Investors should monitor the impact of market volatility, regulatory changes, and ongoing investments on future profitability.

    Apr 22, 2022
  16. 2021-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2021

    NextEra Energy Inc. (NEE) reported mixed financial results for the third quarter and nine months ended September 29, 2021. While the FPL segment demonstrated robust growth in net income, driven by significant investments in infrastructure, the NEER segment experienced a considerable decline in profitability. This was largely attributed to unfavorable non-qualifying hedge activities and changes in the fair value of equity securities within its nuclear decommissioning funds. Overall, NEE's net income attributable to the company for the nine months decreased by $555 million compared to the prior year. Despite the earnings dip, NEE maintained a strong liquidity position with approximately $7.6 billion in net available liquidity at the end of September 2021. Capital expenditures remain substantial, focusing on expanding and enhancing both the FPL segment and NEER's renewable energy projects, with significant investments planned through 2025. The company also announced a proposed 2021 rate agreement for FPL with the FPSC, which, if approved, would lead to an increase in annualized retail base revenues starting in 2022. Investors should monitor the ongoing integration of Gulf Power into FPL and the performance of NEER's renewable energy development pipeline.

    Oct 25, 2021
  17. 2021-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2021

    NextEra Energy, Inc. (NEE) reported mixed financial results for the three and six months ended June 30, 2021. While the FPL segment showed improved net income due to continued investments in infrastructure, the NEER segment experienced a significant decrease in net income, largely driven by unfavorable non-qualifying hedge activities and the absence of prior year gains on asset disposals. For the three months, net income attributable to NEE decreased year-over-year, primarily due to NEER's performance. However, for the six months, net income attributable to NEE increased, primarily due to improved results from Corporate and Other, and the FPL segment, partially offset by NEER's weaker performance. Operationally, NEE continues to invest heavily in its FPL segment, with significant capital expenditures planned for transmission and distribution. NEER is also actively developing new wind and solar projects. The company maintains a strong liquidity position with substantial revolving credit facilities. However, investors should note the significant impact of derivative instruments, particularly non-qualifying hedges, on NEER's earnings volatility. Additionally, FPL has filed a petition for a new four-year rate plan, with a decision expected in Q4 2021, which could impact future revenue requirements.

    Jul 26, 2021
  18. 2021-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2021

    NextEra Energy, Inc. (NEE) reported a significant increase in net income for the first quarter of 2021 compared to the same period in 2020, primarily driven by improvements in its NEER segment and favorable non-qualifying hedge activity. While operating revenues saw a slight decrease year-over-year, driven by lower energy prices and the absence of a large gain from asset disposals in the prior year, the company's core operations remain strong. Key financial movements include a substantial rise in net income attributable to NEE, reaching $1.666 billion from $421 million in Q1 2020, leading to a significant increase in diluted EPS to $0.84 from $0.21. This performance was bolstered by strong contributions from the FPL segment and NEER, despite challenges like the Texas winter weather event impacting NEER's operations. The company continued its strategic investments in infrastructure, as evidenced by significant capital expenditures. Overall, NEE demonstrated robust financial health and operational execution in Q1 2021, with significant net income growth and continued investment in its business segments. Investors should note the strong performance from NEER and the ongoing strategic investments as key drivers.

    Apr 23, 2021
  19. 2020-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2020

    NextEra Energy, Inc. (NEE) reported solid financial results for the third quarter and first nine months of 2020. The company demonstrated robust operating income and net income, driven by the performance of its principal businesses, Florida Power & Light Company (FPL) and NextEra Energy Resources (NEER). FPL's net income saw an increase primarily due to ongoing investments in its infrastructure, while NEER's performance, though impacted by derivative activities and asset sales, remained a significant contributor to overall results. Key financial metrics indicate a strengthening balance sheet, with increases in property, plant, and equipment, and a managed approach to debt. The company generated substantial cash flow from operations, supporting its significant capital expenditure program aimed at expanding and enhancing its generation and transmission assets. Despite the broader economic uncertainties stemming from the COVID-19 pandemic, NEE has maintained access to capital markets and demonstrated resilience in its operations and financial performance.

    Oct 23, 2020
  20. 2020-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2020

    NextEra Energy, Inc. (NEE) reported solid financial results for the second quarter and first half of 2020, demonstrating resilience amidst the ongoing economic uncertainties. For the quarter ended June 30, 2020, net income attributable to NEE was $1.275 billion, or $2.59 per diluted share, largely in line with the previous year's performance. The six-month period showed a slight decrease in net income attributable to NEE to $1.695 billion from $1.914 billion in the prior year, with diluted earnings per share at $3.45 compared to $3.97. The company's performance was driven by its regulated utility subsidiary, Florida Power & Light (FPL), which continued to invest in its infrastructure, contributing to stable earnings. NextEra Energy Resources (NEER), the competitive energy business, experienced some volatility, particularly due to non-qualifying hedge activity and the absence of prior year investment gains, though new investments and existing generation assets provided some offset. Despite these factors, NEE maintained a strong liquidity position, ending the period with approximately $13.0 billion in net available liquidity.

    Jul 24, 2020
  21. 2020-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2020

    NextEra Energy, Inc. (NEE) reported its first-quarter 2020 results, showing a decrease in net income attributable to NEE to $421 million, or $0.86 per diluted share, compared to $680 million, or $1.41 per diluted share, in the first quarter of 2019. This decline was primarily driven by increased interest expenses, unfavorable changes in derivative valuations, and a decrease in equity in earnings from its equity method investees, particularly NEP. Despite the lower net income, the company's core operations remained robust, with Florida Power & Light Company (FPL) demonstrating strong performance, driven by investments in its rate base and a stable regulatory return on equity. NEER's results were impacted by market fluctuations, though partially offset by a gain from the sale of Spanish solar projects and contributions from new investments. Operationally, NEE continues to invest heavily in its infrastructure, with significant capital expenditures planned for the coming years across FPL and NEER segments. The company highlighted its robust liquidity position at March 31, 2020, with total net available liquidity of approximately $10.1 billion, providing a cushion to navigate potential economic uncertainties, including those related to the ongoing COVID-19 pandemic. Management views adjusted earnings, which exclude certain mark-to-market impacts and other non-recurring items, as a more meaningful measure of its underlying earnings power, though these are not substitutes for GAAP net income.

    Apr 23, 2020
  22. 2019-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2019

    NextEra Energy, Inc. (NEE) reported its financial results for the nine months ended September 29, 2019, showing a significant decrease in net income attributable to NEE compared to the same period in 2018. This decline was primarily driven by lower results from NEER, its competitive energy business, and Corporate and Other segments. NEER's performance was impacted by the absence of a substantial gain from the deconsolidation of NEP in the prior year and unfavorable non-qualifying hedge activity. Despite these headwinds, Florida Power & Light Company (FPL), NEE's regulated utility subsidiary, demonstrated resilience with an increase in net income, largely due to continued investments in its infrastructure and a steady regulatory Return on Equity (ROE). The company made significant strategic moves during the period, including the acquisition of Gulf Power in January 2019 and the acquisition of Trans Bay Cable, LLC in July 2019, which added substantial assets and goodwill to NEE's portfolio. These acquisitions, along with ongoing capital expenditures, were funded through a combination of debt issuances and operational cash flows. Despite the decrease in net income, NEE maintained a strong liquidity position, with significant available credit facilities and cash reserves.

    Oct 23, 2019
  23. 2019-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2019

    NextEra Energy's (NEE) second quarter 2019 Form 10-Q, filed July 24, 2019, shows a company in heavy investment mode with GAAP results driven by large non-recurring and mark-to-market items. For the three months ended June 30, 2019, net income attributable to NEE was $1,234 million ($2.56 diluted EPS), up from $781 million ($1.61) a year earlier. For the six months, net income attributable to NEE fell to $1,914 million ($3.97 diluted EPS) from $5,212 million ($10.93), but the prior-year period included a roughly $3.9 billion pre-tax gain from deconsolidating NextEra Energy Partners (NEP). Operating revenues rose 22% in the quarter to $4,970 million, helped by favorable non-qualifying commodity hedge gains and a $351 million pre-tax gain on the sale of wind and solar interests to NEP. The most important development for investors is the Gulf Power acquisition, closed January 1, 2019, for roughly $4.47 billion in cash plus about $1.3 billion of assumed debt. It added about $2.6 billion of goodwill and drove a sharp rise in leverage: long-term debt reached $33.9 billion (up from $26.8 billion at year-end 2018), and total assets grew to $110.6 billion. Interest expense more than tripled for the six-month period to $1,315 million, though much of the increase reflects $530 million of unfavorable fair value changes on interest rate contracts rather than purely higher borrowing costs. FPL, the regulated utility, reported net income of $663 million for the quarter, supported by a regulatory ROE of 11.60% and continued rate base growth, including the Okeechobee Clean Energy Center, a roughly 1,750 MW gas plant that entered commercial operation. NEE's liquidity remained substantial at about $8.3 billion of net available liquidity at June 30, 2019. Cash flow from operations was $3.3 billion for the six months, while capital expenditures and investments totaled $9.9 billion, including $4.7 billion for Gulf Power. Management also disclosed commitments of roughly $27 billion for FPL and $7.9 billion for NEER over 2019 to 2023 and reiterated that a non-GAAP adjusted earnings measure is used internally. Investors should weigh the strength of the regulated and renewables franchise against the elevated debt load, earnings volatility from derivative accounting, and the continuing dependence on NEP-related transactions.

    Jul 24, 2019
  24. 2019-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2019

    NextEra Energy, Inc. (NEE) reported its first-quarter 2019 financial results, showcasing a significant year-over-year decrease in net income attributable to NEE, primarily driven by the absence of a large gain recognized in the prior year related to the deconsolidation of NEP. While overall net income declined substantially, the core utility operations of Florida Power & Light Company (FPL) demonstrated resilience, with net income increasing due to ongoing investments in plant in service and improved regulatory returns. The company's competitive energy business, NEER, experienced lower results compared to the prior year, impacted by unfavorable non-qualifying hedge activity and the lack of significant one-time gains. However, NEER continued to expand its renewable energy portfolio with new wind and solar projects coming online. The recent acquisition of Gulf Power in January 2019 is beginning to contribute to the consolidated results. Despite the year-over-year net income decline, NEE maintained a strong liquidity position.

    Apr 23, 2019
  25. 2018-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2018

    NextEra Energy, Inc. (NEE) reported a strong third quarter and nine-month performance ending September 30, 2018, with net income attributable to NEE significantly increasing year-over-year, driven by the performance of its main subsidiaries, Florida Power & Light (FPL) and NextEra Energy Resources (NEER). FPL demonstrated robust growth, largely due to continued investments in its rate base, leading to an increased regulatory Return on Equity (ROE). NEER's results, while showing some quarter-over-quarter fluctuation due to derivative impacts and the deconsolidation of NEP, delivered substantial year-to-date growth primarily from a significant one-time gain related to the deconsolidation of NEP and favorable tax reform impacts. The company's strategic focus on infrastructure investment and renewable energy development continues to drive financial results.

    Oct 23, 2018
  26. 2018-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2018

    NextEra Energy Inc. (NEE) reported its second-quarter and first-half 2018 financial results, demonstrating resilience and strategic growth. For the second quarter, net income attributable to NEE was $795 million, or $1.64 per diluted share, largely in line with the prior year's $793 million ($1.68 per diluted share). The first half of 2018 saw a significant increase in net income to $5.223 billion ($10.95 per diluted share), compared to $2.376 billion ($5.05 per diluted share) in the first half of 2017. This substantial year-over-year growth is largely attributable to a significant gain from the deconsolidation of NEP, which contributed $3.9 billion before taxes to other income. The company's primary operating segments, Florida Power & Light Company (FPL) and NextEra Energy Resources (NEER), both contributed positively to the results, with FPL showing steady performance driven by higher retail base revenues and tax benefits, while NEER's performance in the first half was significantly boosted by the NEP deconsolidation gain and favorable tax reform impacts. The company also announced significant planned acquisitions, including Gulf Power Company and Florida City Gas, positioning NEE for further expansion in the Florida energy market.

    Jul 25, 2018
  27. 2018-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2018

    NEXTERA ENERGY INC (NEE) reported a substantial increase in Net Income Attributable to NEE for the three months ended March 31, 2018, reaching $4,428 million, a significant jump from $1,583 million in the prior year period. This surge was largely driven by a one-time gain of approximately $3.9 billion from the deconsolidation of NEP, which was recognized in the first quarter of 2018. Excluding this extraordinary item, the company's core operations at FPL and NEER demonstrated solid performance. FPL's net income increased due to higher retail base revenues and lower income taxes, while NEER's results were impacted by favorable tax reform effects and ongoing investments. Despite the significant gain from NEP deconsolidation, investors should note the underlying operational performance and the strategic capital investments being made across both regulated (FPL) and competitive energy (NEER) segments.

    Apr 24, 2018
  28. 2017-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2017

    NextEra Energy, Inc. (NEE) reported solid financial results for the quarter ended September 30, 2017, demonstrating continued growth and operational strength. The company's net income attributable to NEE increased to $847 million, or $1.79 per diluted share, compared to $753 million, or $1.62 per diluted share, in the prior year's third quarter. This growth was primarily driven by strong performance at Florida Power & Light Company (FPL), which benefited from investments in its rate base, and contributions from its competitive energy business, NextEra Energy Resources (NEER). For the nine-month period, net income attributable to NEE significantly increased to $3.22 billion ($6.83 per diluted share) from $1.95 billion ($4.19 per diluted share) in the same period last year. This substantial increase reflects both ongoing operational improvements and the impact of significant one-time items, such as the gain from the sale of its fiber-optic telecommunications business. The company continues to invest heavily in infrastructure and renewable energy projects, with substantial capital expenditure plans for both FPL and NEER, positioning it for sustained future growth.

    Oct 26, 2017
  29. 2017-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2017

    NextEra Energy, Inc. (NEE) reported strong financial performance for the six months ended June 30, 2017, with Net Income attributable to NEE increasing significantly to $2.376 billion, up from $1.193 billion in the prior year period. This growth was driven by solid contributions from both its regulated utility, Florida Power & Light Company (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL demonstrated robust earnings growth, primarily due to increased investments in its rate base and efficient operations. NEER also showed improved performance, benefiting from new investments and favorable changes in derivative impacts, despite the absence of a significant gain from an asset sale in the prior year. The company maintained a strong liquidity position and continued to execute its capital expenditure plans, focusing on infrastructure improvements and renewable energy generation, positioning it well for future growth. Investors should note the significant increase in earnings per share and the continued expansion of its asset base, particularly in renewable energy.

    Jul 26, 2017
  30. 2017-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2017

    NextEra Energy, Inc. (NEE) reported a significant increase in net income for the first quarter of 2017 compared to the same period in 2016, driven by strong performance across its principal subsidiaries, Florida Power & Light Company (FPL) and NextEra Energy Resources (NEER). FPL saw improved net income primarily due to substantial investments in its rate base, leading to higher regulated earnings. NEER's performance was boosted by new investments in wind and solar generation, contributions from new projects, and a significant turnaround in unrealized mark-to-market gains from non-qualifying hedges, which contrasted with losses in the prior year. The company also benefited from a substantial gain on the sale of its fiber-optic telecommunications business, which significantly boosted 'Corporate and Other' results. Overall, these factors contributed to a robust financial quarter for NextEra Energy.

    Apr 21, 2017
  31. 2016-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2016

    NextEra Energy, Inc. (NEE) reported its third-quarter 2016 financial results, showing a decrease in net income attributable to NEE for both the three and nine-month periods compared to the prior year. This decline was primarily driven by lower results at NEER (its competitive energy business) and Corporate and Other, partially offset by higher results at FPL (its rate-regulated electric utility subsidiary). Key operational highlights include continued investments in plant in service by FPL, leading to higher earnings. NEER's performance was impacted by lower net unrealized gains from non-qualifying hedge activities and changes in earnings from its gas infrastructure and existing assets. The company is actively pursuing significant strategic transactions, including the proposed acquisition of Oncor Electric Delivery Company LLC, which, if completed, would significantly expand its operational footprint in Texas. Additionally, NEE announced the proposed sale of its FiberNet business. Investors should note the ongoing strategic repositioning, with the sale of FiberNet and the significant proposed acquisition of Oncor. While FPL's regulated operations provide a stable earnings base, NEER's performance is subject to market volatility and hedging activities. The company's liquidity remains strong, supported by substantial credit facilities.

    Nov 1, 2016
  32. 2016-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2016

    NextEra Energy, Inc. (NEE) reported mixed financial results for the six months ended June 30, 2016, with a decrease in net income attributable to NEE compared to the same period in the prior year. This decline was primarily driven by lower results at its competitive energy business, NEER, and Corporate and Other segments, partly offset by higher results at its rate-regulated utility, FPL. While FPL demonstrated steady performance with increased net income driven by investments in infrastructure and a favorable regulatory environment, NEER's performance was impacted by significant unrealized mark-to-market losses on non-qualifying hedges, especially related to interest rate derivatives following the discontinuation of hedge accounting. Despite these challenges, NEE continues to invest heavily in capital expenditures for both its regulated utility and competitive energy businesses, signaling a commitment to future growth.

    Jul 28, 2016
  33. 2016-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2016

    NextEra Energy, Inc. (NEE) reported its first-quarter 2016 financial results, showing a slight decrease in net income attributable to NEE to $636 million, or $1.37 per diluted share, compared to $650 million, or $1.45 per diluted share, in the prior year's quarter. This dip was primarily driven by lower results at its competitive energy business, NEER, which were partially offset by stronger performance from its regulated utility, Florida Power & Light (FPL). FPL demonstrated solid growth, with net income increasing to $393 million, supported by ongoing investments in its infrastructure and a higher regulatory return on equity. Conversely, NEER's net income declined, largely due to significant unrealized mark-to-market losses on non-qualifying hedges, a reversal from gains in the previous year, alongside higher interest and administrative expenses. Despite the overall dip in net income, NEE's operating cash flows strengthened significantly, increasing to $1,545 million from $1,181 million in the prior year quarter, indicating robust operational cash generation.

    Apr 29, 2016
  34. 2015-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2015

    NextEra Energy, Inc. (NEE) reported strong financial performance for the nine months ended September 30, 2015, with net income attributable to NEE rising to $2.25 billion, a significant increase from $1.58 billion in the same period of 2014. This growth was driven by both its regulated utility, Florida Power & Light (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL saw an increase in net income to $1.28 billion, supported by investments in plant in service and a stable regulatory environment. NEER's performance was boosted by strong results from new investments, customer supply, and trading activities, alongside favorable unrealized gains from non-qualifying hedge activity. The company also maintained a robust liquidity position, with approximately $7.1 billion in net available liquidity at the end of the period, underscoring its financial strength and ability to fund ongoing capital expenditures and growth initiatives.

    Oct 30, 2015
  35. 2015-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2015

    NEXTERA ENERGY INC (NEE) reported strong financial performance for the six months ended June 30, 2015, with net income attributable to NEE increasing significantly to $1.37 billion, up from $921 million in the prior year period. This growth was driven by robust performance across its two main segments: Florida Power & Light (FPL) and NextEra Energy Resources (NEER). FPL demonstrated stable earnings, benefiting from investments in its infrastructure and a consistent regulatory return on equity. NEER saw a substantial uplift, largely due to favorable mark-to-market adjustments on non-qualifying hedges, which reversed prior year losses, and improved performance in its customer supply and trading operations, along with contributions from new investments in renewable energy projects. The company also maintained a strong liquidity position, with substantial available credit facilities, supporting its ongoing capital expenditure plans and strategic initiatives, including planned acquisitions. For the quarter ended June 30, 2015, net income attributable to NEE was $716 million, a notable increase from $492 million in the prior year. This quarterly improvement was also fueled by the strong performance of NEER, particularly the reversal of mark-to-market losses from non-qualifying hedges and contributions from new renewable energy assets. FPL continued to contribute steadily to earnings. The company's strategic focus on investing in infrastructure, expanding its renewable energy portfolio, and managing operational risks appears to be delivering positive financial results, positioning NEE favorably for continued growth.

    Aug 3, 2015
  36. 2015-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2015

    NextEra Energy, Inc. (NEE) reported strong financial results for the first quarter of 2015, demonstrating significant year-over-year growth. Net income attributable to NEE surged by 51.2% to $650 million, or $1.45 per diluted share, compared to $430 million, or $0.98 per diluted share, in the same period of 2014. This robust performance was driven by substantial increases in net income from both its regulated utility segment, Florida Power & Light Company (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL showed steady performance with a 3.5% increase in net income, benefiting from continued investments in its infrastructure. NEER, however, was the primary growth engine, with its net income more than tripling year-over-year. This exceptional growth at NEER was largely attributed to favorable unrealized mark-to-market gains from non-qualifying hedges, improved customer supply and proprietary trading results, and contributions from new investments. Investors should note the strong operational execution across both segments, highlighting NEE's diversified business model and its ability to generate value through both stable regulated operations and dynamic competitive energy markets.

    May 1, 2015
  37. 2014-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2014

    NextEra Energy, Inc. (NEE) reported its third-quarter 2014 financial results, showcasing continued growth driven by its regulated utility subsidiary, Florida Power & Light Company (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL demonstrated strong performance with increased net income, benefiting from investments in plant in service and a favorable regulatory environment. NEER, while facing some headwinds from non-qualifying hedge activity and specific project charges, continued to expand its renewable energy portfolio. Overall, NEE's consolidated net income attributable to the company remained stable year-over-year for the nine-month period, supported by FPL's robust contributions. The company also highlighted its ongoing capital expenditure plans, focusing on infrastructure improvements and renewable energy development, and maintained a strong liquidity position with substantial available credit facilities. Investors should note the strategic expansion of NextEra Energy Partners, LP (NEP) through its IPO and subsequent acquisition agreements, aligning with NEE's focus on long-term clean energy projects.

    Nov 7, 2014
  38. 2014-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2014

    NextEra Energy, Inc. (NEE) reported solid financial results for the second quarter and first six months of 2014. The company's net income for the three months ended June 30, 2014, was $492 million, or $1.12 per diluted share, compared to $610 million, or $1.44 per diluted share, in the prior year period. For the six months ended June 30, 2014, net income was $921 million, or $2.10 per diluted share, an increase from $883 million, or $2.08 per diluted share, in the same period of 2013. Florida Power & Light (FPL) showed strong performance, with net income increasing due to ongoing investments in its infrastructure and a favorable regulatory return on equity. NextEra Energy Resources (NEER), the competitive energy segment, experienced a decrease in net income for the quarter primarily due to higher unrealized mark-to-market losses from non-qualifying hedges. However, for the year-to-date period, FPL's higher results, combined with the absence of significant one-time charges seen in the prior year (like the Spain solar project impairment), led to overall net income growth for NEE. The company maintains a strong liquidity position with approximately $6.2 billion in net available liquidity at June 30, 2014. Capital expenditures remain significant, focused on generation, transmission, and distribution projects, reflecting a commitment to growth and infrastructure improvement across both regulated and competitive segments. The company also announced the initial public offering of NextEra Energy Partners, LP (NEP) on July 1, 2014, which is expected to provide a platform for future growth in contracted clean energy projects.

    Jul 31, 2014
  39. 2014-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2014

    NextEra Energy Inc. (NEE) reported strong financial performance for the first quarter of 2014, with net income increasing significantly to $430 million compared to $272 million in the prior year period. This growth was primarily driven by the performance of its regulated utility subsidiary, Florida Power & Light Company (FPL), which saw a substantial increase in net income due to higher earnings from increased investments in plant in service and a favorable regulatory return on equity. NEER, the competitive energy business, also contributed positively, with net income turning around from a loss in the prior year to a profit, largely due to the absence of significant impairment charges related to its Spain solar projects in the prior year, alongside increased generation from existing assets and new investments. The company's overall financial health appears robust, supported by consistent operational performance across its segments. NEE continues to invest heavily in its infrastructure, with significant capital expenditure plans for both FPL and NEER, focusing on generation, transmission, and distribution improvements, as well as renewable energy projects. The company also maintains strong liquidity, with substantial available credit facilities, positioning it well to fund its ongoing growth initiatives and operational needs.

    May 2, 2014
  40. 2013-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2013

    NextEra Energy, Inc. (NEE) reported solid financial results for the third quarter and nine months ended September 30, 2013, demonstrating strong performance across its key business segments. Florida Power & Light Company (FPL), the regulated utility arm, saw increased net income driven by investments in its plant in service and a slight improvement in its regulatory return on equity. NEER, the competitive energy business, also experienced a significant uplift in its quarterly performance, primarily due to favorable mark-to-market adjustments on non-qualifying hedges and contributions from new investments, though its year-to-date results were impacted by an impairment charge related to its Spain solar projects. Overall, NEE's net income for the quarter rose substantially, reflecting the combined strength of FPL and the quarterly recovery at NEER. For the nine-month period, net income saw a modest increase year-over-year, with FPL's growth offsetting a decline at NEER, which was heavily influenced by the aforementioned impairment. The company maintained a strong liquidity position, underscoring its ability to fund ongoing capital expenditures and strategic growth initiatives across both its regulated and competitive segments.

    Nov 1, 2013
  41. 2013-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2013

    NextEra Energy Inc. (NEE) reported its financial results for the second quarter and first six months of 2013, showcasing a mixed performance across its operating segments. For the three months ended June 30, 2013, NEE's net income slightly increased to $610 million ($1.44/share diluted) from $607 million ($1.45/share diluted) in the prior year. However, for the six months ended June 30, 2013, net income decreased to $883 million ($2.08/share diluted) from $1,068 million ($2.57/share diluted) in the same period last year. The company's performance was significantly impacted by a substantial impairment charge of $300 million ($342 million after-tax) related to its Spain solar projects, which heavily influenced the year-to-date results. Florida Power & Light (FPL), the regulated utility segment, demonstrated steady performance with increased net income driven by investments in plant in service. In contrast, NextEra Energy Resources (NEER), the competitive energy business, experienced a decline in earnings, primarily due to the aforementioned impairment and unfavorable mark-to-market derivative impacts, partially offset by contributions from new investments and discontinued operations gains.

    Jul 31, 2013
  42. 2013-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2013

    NextEra Energy Inc. (NEE) reported a net income of $272 million for the first quarter of 2013, a decrease from $461 million in the prior year period. This decline was primarily driven by a significant $300 million impairment charge related to its Spain solar projects, impacting its competitive energy business (NEER). While Florida Power & Light (FPL) saw an increase in net income due to investments in its rate base and favorable regulatory orders, NEER's results were also affected by lower contributions from new investments and a significant unrealized mark-to-market loss on non-qualifying hedges. The company continues to invest heavily in capital projects, with an estimated $10.9 billion for FPL and $2.9 billion for NEER planned through 2017. Despite the quarterly dip in earnings, NEE maintained a strong liquidity position with approximately $5.7 billion in net available liquidity. The company also announced a gain from discontinued operations related to the sale of hydropower generation plants. Investors should monitor the ongoing legal proceedings regarding the Spain solar projects, which could impact future financial performance, and the company's ability to manage its significant capital expenditure plans.

    May 2, 2013
  43. 2012-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2012

    NextEra Energy Inc. (NEE) reported its third-quarter 2012 financial results, demonstrating a slight increase in net income compared to the prior year, driven by strong performance at its regulated utility subsidiary, Florida Power & Light Company (FPL). FPL's net income rose due to investments in plant in service, higher cost recovery clause results, and increased AFUDC-equity. In contrast, NEE's competitive energy business, NextEra Energy Resources (NEER), experienced a decline in net income, primarily attributable to increased net unrealized mark-to-market losses from non-qualifying hedges and lower results from its existing asset portfolio. However, NEER's year-to-date performance was boosted by the absence of a significant loss recorded in the prior year related to the sale of natural gas-fired generating assets. Overall, NEE maintained a solid liquidity position, with substantial available credit facilities. The company is actively managing its capital expenditures, with significant investments planned in new generation capacity, including wind and solar projects for NEER, and modernization of FPL's existing infrastructure. Investors will be monitoring the upcoming regulatory decisions on FPL's base rate proceeding, which could impact future revenue streams and allowed returns. Additionally, NEE's continued reliance on tax credits for its renewable energy projects highlights the importance of future legislative actions in this area.

    Oct 26, 2012
  44. 2012-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2012

    NextEra Energy, Inc. (NEE) reported solid financial results for the second quarter and first six months of 2012, demonstrating growth in net income driven by both its regulated utility (FPL) and competitive energy (NEER) segments. FPL's performance was bolstered by investments in its infrastructure and favorable regulatory treatments, while NEER benefited from new investments and the absence of significant impairment charges from the prior year, despite some headwinds from lower wind resources. Overall, NEE showcased improved profitability, with net income increasing year-over-year for both periods. The company continues to invest heavily in capital expenditures, particularly in new generation facilities, reflecting a commitment to growth and modernization. Liquidity remains strong, supported by substantial available credit facilities and operational cash flows. Investors should note the company's ongoing capital projects, potential impacts from regulatory changes, and the strategic use of derivatives for risk management.

    Jul 27, 2012
  45. 2012-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2012

    NextEra Energy, Inc. (NEE) reported a significant increase in net income for the first quarter of 2012 compared to the prior year, driven by strong performance at its regulated utility subsidiary, Florida Power & Light (FPL), and its competitive energy business, NextEra Energy Resources (NEER). FPL demonstrated robust earnings growth, benefiting from investments in plant in service and favorable cost recovery clause results. NEER also saw substantial improvement, largely due to unrealized mark-to-market gains on non-qualifying hedges, which offset prior-year losses in this area. Despite macroeconomic uncertainties and a challenging regulatory environment, NEE's diversified business model and strategic investments have positioned it for continued financial strength. Investors should note the ongoing capital expenditure plans, particularly in renewable energy projects, and the company's proactive approach to managing market risks through hedging strategies.

    Apr 27, 2012
  46. 2011-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2011

    NextEra Energy, Inc. (NEE) reported a decrease in net income for the third quarter and nine months ended September 30, 2011, compared to the prior year. For the three months, net income was $407 million, down from $720 million in 2010, and for the nine months, it was $1.26 billion, down from $1.69 billion. This decline was primarily driven by a significant loss on assets held for sale and a decrease in earnings from NextEra Energy Resources, its competitive energy business. However, Florida Power & Light (FPL), the regulated utility segment, showed improved earnings due to rate base growth and capital expenditure recovery. Investors should note the ongoing strategic divestitures within NextEra Energy Resources, which contributed to the reported losses but may streamline the company's portfolio.

    Nov 4, 2011
  47. 2011-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2011

    NextEra Energy's (NEE) second-quarter 2011 Form 10-Q, filed August 2, 2011, shows consolidated net income of $580 million ($1.38 diluted EPS) for the three months ended June 30, 2011, up from $417 million ($1.01) a year earlier. Revenue rose to $3.96 billion from $3.59 billion. For the six months, net income fell to $848 million from $973 million, and diluted EPS fell to $2.03 from $2.37. The six-month decline is driven by NextEra Energy Resources, whose net income dropped $217 million, largely because of unrealized mark-to-market losses on non-qualifying hedges and an extended refueling outage at Seabrook. The quarter's improvement was helped by a roughly $64 million state deferred tax benefit and wind production tax credits of about $84 million. FPL, the regulated utility, is the steadier earnings engine. Its net income rose to $301 million in the quarter and $506 million for the six months, driven by rate base growth, the use of the surplus depreciation credit to earn up to its 11% allowed regulatory ROE, and cost recovery clause returns on nuclear, solar and environmental investments. FPL placed the 1,220 MW West County Energy Center Unit 3 in service in May 2011. Capital spending remains heavy, with planned 2011 through 2015 capital expenditures of about $11.1 billion at FPL, $5.0 billion at NextEra Energy Resources and $0.9 billion at Corporate and Other. Balance sheet and liquidity are solid. Total assets were $54.6 billion and net available liquidity was about $6.1 billion. The company received a $278 million IRS refund tied to a tax settlement, and the Japan nuclear events prompted NRC reviews that could raise future nuclear costs. Management flagged a $51 million pre-tax impairment on certain wind and oil-fired assets, and it is exploring the potential sale of about 2,700 MW of natural gas-fired generation.

    Aug 2, 2011
  48. 2011-Q1

    NEXTERA ENERGY INC Quarterly Report for Q1 Ended Mar 31, 2011

    NextEra Energy (NEE) reported first-quarter 2011 net income of $268 million, or $0.64 per diluted share, down sharply from $556 million, or $1.36 per share, in the first quarter of 2010. The decline was driven almost entirely by NextEra Energy Resources (NEER), the competitive energy segment, whose net income fell to $65 million from $367 million. The main cause was a $292 million after-tax swing in unrealized mark-to-market losses on non-qualifying hedges, which were a $125 million loss in 2011 versus a $167 million gain in 2010. Excluding that item, NEER's underlying businesses were roughly stable to modestly better, with wind production and existing asset performance offsetting weaker trading and customer supply results. Investors should note that these mark-to-market swings are non-cash and reverse over time, so management's adjusted earnings measure is the more useful guide to underlying performance. Florida Power & Light (FPL), the regulated utility, was the steady contributor, with net income rising 7% to $205 million from $191 million. Growth came from new nuclear capacity, solar and environmental investments recovered through cost recovery clauses, and higher AFUDC equity tied to the West County Energy Center Unit 3 construction. The utility is benefiting from the 2010 rate agreement, which lets FPL use surplus depreciation credits to earn up to an 11% regulatory return on equity. Operating cash flow was $983 million consolidated, supported by Recovery Act cash grants of $377 million, and the company is funding a large capital program, with planned spending of roughly $12 billion at FPL and $5.3 billion at NEER over 2011 to 2015. Key risks flagged in the filing include the potential impact of the March 2011 Japan earthquake on U.S. nuclear licensing and uprate plans, the Dodd-Frank Act's effect on over-the-counter derivative hedging and collateral needs, and pending EPA air toxics and cooling water rules that could require material pollution control spending at both FPL and NEER. Liquidity remains solid, with approximately $5.8 billion of net available liquidity at quarter-end, and Fitch moved its outlook on the company's ratings from negative to stable in May 2011.

    May 4, 2011
  49. 2010-Q3

    NEXTERA ENERGY INC Quarterly Report for Q3 Ended Sep 30, 2010

    NextEra Energy's (NEE) third-quarter 2010 Form 10-Q, filed November 3, 2010, shows consolidated net income of $720 million ($1.74 diluted EPS) for the three months ended September 30, 2010, up from $533 million ($1.31) a year earlier, and nine-month net income of $1,694 million ($4.11 diluted EPS) versus $1,267 million ($3.12). Operating revenues rose 5% in the quarter to $4,691 million, while nine-month revenues were roughly flat at $11,904 million. Growth was driven mainly by NextEra Energy Resources (NEER), the competitive energy segment, whose quarterly net income rose to $386 million from $212 million, largely due to favorable non-qualifying hedge mark-to-market gains and new wind investments. FPL, the regulated utility, posted quarterly net income of $308 million, roughly flat, and nine-month net income of $764 million, up 18%, helped by higher retail usage and base rate increases. The balance sheet expanded meaningfully, with total assets reaching $52.7 billion and long-term debt rising to $17.7 billion, reflecting heavy 2010 issuance to fund roughly $2.1 billion of FPL capital spending and about $1.9 billion of NEER investments. Liquidity remained solid, with net available liquidity of approximately $5.9 billion. Key regulatory developments include an August 2010 stipulated rate agreement for FPL, which would freeze base rates through 2012 and keep the allowed ROE midpoint at 10%, pending FPSC approval. Investors should note that the company's reported earnings include substantial unrealized mark-to-market gains that management excludes from its 'adjusted earnings' measure, and that the rate agreement is not yet effective.

    Nov 3, 2010
  50. 2010-Q2

    NEXTERA ENERGY INC Quarterly Report for Q2 Ended Jun 30, 2010

    NextEra Energy, Inc. (formerly FPL Group, Inc.; ticker changed from FPL to NEE on June 23, 2010) reported second-quarter 2010 net income of $417 million, or $1.01 diluted EPS, up from $370 million, or $0.91, in the prior-year quarter. Operating revenues fell 6% to $3.591 billion, but operating income rose 17% to $709 million, driven mainly by lower fuel and purchased power costs, which declined to $1.455 billion from $1.797 billion. For the six months, net income rose 33% to $973 million ($2.37 diluted EPS), helped by a $132 million after-tax swing in unrealized mark-to-market gains on non-qualifying hedges and a 23% effective tax rate supported by $164 million of wind production tax credits. The two segments moved in different directions. FPL, the rate-regulated utility, grew net income 24% in the quarter to $265 million, aided by higher retail usage, a March 2010 base rate increase (about $75 million annualized, 10.0% ROE), and the West County Energy Center units coming online. NextEra Energy Resources, the competitive generation business, earned $154 million in the quarter, down from $163 million, though it rose 33% for the half-year to $521 million. Balance sheet growth was driven by construction spending: total assets reached $51.2 billion, long-term debt rose to $17.2 billion, and cash increased to $829 million. Net available liquidity was about $5.2 billion, of which FPL's share was $2.7 billion. Investors should note several risk items. FPL's $404 million fuel overrecovery refund, and a roughly $600 million decline in deferred clause revenues, weighed on operating cash flow, which fell to $1.75 billion from $2.14 billion. The company also faces a pending FPSC ruling on depreciation, a Texas court ruling that could award liquidated damages against NextEra Energy Resources affiliates, and a fraudulent-transfer suit by the Adelphia bankruptcy estate. Credit ratings are stable at Moody's and S&P, though Fitch's outlook is negative, and a downgrade to BBB would trigger roughly $450 million of collateral posting.

    Aug 6, 2010