Summary
This 8-K filing from NextEra Energy, Inc. (NEE) on September 14, 2010, primarily serves to reaffirm the company's previously issued guidance. Specifically, NextEra Energy reaffirmed its expectation for average adjusted earnings per share (EPS) growth of approximately 5% to 7% annually from 2009 to 2014. This guidance translates to an adjusted EPS expectation of $5.17 to $5.68 for the year 2014. The company intends to communicate this reaffirmation at upcoming industry conferences, the Bank of America Merrill Lynch Conference and the Barclays Capital CEO Energy-Power Conference. Investors should note that these adjusted EPS figures exclude certain items such as the impact of adopting new accounting standards, unrealized mark-to-market effects of non-qualifying hedges, and net other-than-temporary impairment losses on nuclear decommissioning fund securities, none of which can be precisely determined at this time. Adjusted earnings are presented as a non-GAAP measure and should not be considered a substitute for net income reported under GAAP.
Key Highlights
- 1NextEra Energy reaffirms its 2009-2014 adjusted EPS growth target of 5%-7% annually.
- 2The company projects adjusted EPS of $5.17 to $5.68 for the year 2014.
- 3The reaffirmation is being communicated at two upcoming investor conferences: Bank of America Merrill Lynch (September 14, 2010) and Barclays Capital CEO Energy-Power (September 16, 2010).
- 4Adjusted EPS guidance excludes the impact of new accounting standards adoption.
- 5Guidance also excludes unrealized mark-to-market effects of non-qualifying hedges.
- 6Net other-than-temporary impairment losses on nuclear decommissioning funds are also excluded from adjusted EPS calculations.
- 7The company emphasizes that adjusted earnings are a non-GAAP measure and not a substitute for GAAP net income.