Summary
NextEra Energy, Inc. (NEE), previously operating as FPL Group, Inc., issued this 8-K filing on June 22, 2009, to disclose information to be presented during investor meetings in Europe. The primary focus of the disclosure is the reaffirmation of FPL Group's long-term adjusted earnings per share (EPS) expectations for 2009 and 2010, along with its average adjusted EPS growth outlook. Specifically, the company reiterated its 2009 adjusted EPS guidance of $4.20 to $4.40 and its 2010 adjusted EPS guidance of $4.65 to $5.05. Furthermore, FPL Group affirmed its expectation of achieving at least 10% average annual adjusted EPS growth from 2006 to 2012. These projections are subject to several critical assumptions, including normal weather and operating conditions, a stable national and Florida economy, supportive commodity markets, continued public policy support for renewables, and access to reasonable capital markets. Importantly, these adjusted EPS figures exclude the impact of adopting new accounting standards, unrealized mark-to-market effects of non-qualifying hedges, and temporary impairment losses on nuclear decommissioning fund securities. The filing also emphasizes a comprehensive list of risk factors that could materially affect future results, covering regulatory and legal environments, environmental regulations, operational risks for generation and transmission facilities, nuclear power operations, construction project risks, derivative contract usage, competitive energy market dynamics, acquisition risks, economic uncertainties, customer growth and usage, weather impacts, capital and credit market conditions, and potential threats from terrorism or cyber-attacks.
Key Highlights
- 1Reaffirmed 2009 adjusted EPS guidance of $4.20 to $4.40.
- 2Reaffirmed 2010 adjusted EPS guidance of $4.65 to $5.05.
- 3Affirmed expectation of at least 10% average annual adjusted EPS growth from 2006 to 2012.
- 4Adjusted EPS expectations exclude impacts of new accounting standards, mark-to-market effects on hedges, and certain nuclear decommissioning fund impairments.
- 5Guidance is contingent on numerous assumptions including normal weather, stable economy, supportive commodity markets, and access to capital.
- 6The filing details extensive risk factors that could materially impact future financial results, including regulatory, operational, environmental, and market-related risks.