Summary
NextEra Energy, Inc. (NEE) has filed an 8-K report on December 4, 2012, to disclose information that management plans to discuss with investors. The primary focus is the reaffirmation of the company's long-term growth expectations, including its previously stated adjusted earnings per share (EPS) targets for 2012 ($4.35 to $4.65) and 2014 ($5.05 to $5.65). These adjusted figures exclude certain accounting impacts, such as the cumulative effect of new accounting standards, mark-to-market adjustments on non-qualifying hedges, and other-than-temporary impairment losses on nuclear decommissioning funds. The company also highlighted key assumptions underpinning these earnings expectations, which include normal weather and operating conditions, a stable national and Florida economy, supportive commodity and public policy environments for renewable energy, and continued access to capital at reasonable costs. Investors are advised that these adjusted earnings are not a substitute for GAAP net income and should be considered alongside the extensive risk factors detailed in the filing and other SEC submissions. The presentation materials will be made available on NextEra Energy's investor relations website.
Key Highlights
- 1Reaffirmation of 2012 adjusted EPS guidance of $4.35 to $4.65.
- 2Reaffirmation of 2014 adjusted EPS guidance of $5.05 to $5.65.
- 3Adjusted EPS excludes certain items like accounting standard adoption effects, mark-to-market adjustments on non-qualifying hedges, and impairment losses on nuclear decommissioning funds.
- 4Guidance assumes normal weather, stable economic conditions (national and Florida), and supportive commodity markets.
- 5Public policy support for wind and solar development, along with market demand and transmission expansion, are critical assumptions.
- 6Access to capital at reasonable costs and terms is a key assumption for achieving growth expectations.
- 7Management will discuss these growth expectations and associated assumptions at upcoming investor meetings.