8-KLeadership ChangesRegulation FD

NEXTERA ENERGY INC 8-K Report, Executive Changes (Oct 5, 2011)

Filed October 5, 2011For Securities:NEENEE-PNNEE-PSNEE-PTNEE-PWNEE-PVNEE-PU

Summary

NextEra Energy, Inc. (NEE) filed an 8-K on October 5, 2011, to report significant executive leadership changes and provide forward-looking financial guidance. The report details the appointment of Armando Pimentel, Jr. as President and CEO of NextEra Energy Resources, LLC, with Pimentel stepping down from his roles as CFO and Executive Vice President, Finance for NextEra Energy and Florida Power & Light Company (FPL). Concurrently, Moray P. Dewhurst was appointed Vice Chairman and CFO of NextEra Energy and FPL, while retaining his Chief of Staff responsibilities. This transition at the CFO level is a key management event investors should note. Furthermore, the filing includes an update on the company's financial outlook, projecting 2011 adjusted earnings per share (EPS) to be at the lower end of the previously announced range of $4.35 to $4.65. Looking ahead, NextEra Energy anticipates an average adjusted EPS growth rate of 5% to 7% through 2014, based on the 2011 adjusted EPS range. These projections exclude certain items such as accounting standard adoptions, mark-to-market effects of non-qualifying hedges, impairment losses, and a loss from the sale of natural gas-fired generating assets. Investors should pay close attention to these forward-looking statements and the underlying assumptions, as well as the extensive risk factors detailed in the filing, which cover regulatory, operational, environmental, and market-related challenges.

Key Highlights

  • 1Armando Pimentel, Jr. appointed President and CEO of NextEra Energy Resources, LLC.
  • 2Armando Pimentel, Jr. stepped down as CFO and Executive Vice President, Finance for NextEra Energy and FPL.
  • 3Moray P. Dewhurst appointed Vice Chairman and CFO of NextEra Energy and FPL, retaining Chief of Staff role.
  • 4Company expects 2011 adjusted EPS to be at the low end of the $4.35 - $4.65 guidance range.
  • 5Projected average adjusted EPS growth of 5% - 7% through 2014.
  • 6Forward-looking projections exclude certain accounting adjustments, hedging effects, impairment losses, and asset sale losses.

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