Summary
NextEra Energy, Inc. (NEE) filed an 8-K on June 3, 2013, primarily to disclose information for upcoming investor meetings in Europe. The key takeaway for investors is the reaffirmation of the company's previously stated long-term financial outlook. NEE expects its 2013 adjusted earnings per share (EPS) to be between $4.70 and $5.00. Furthermore, the company projects an average annual adjusted EPS growth rate of approximately 5-7% through 2016, based on a 2012 adjusted EPS. This growth trajectory is anticipated to result in 2016 adjusted EPS ranging from $5.50 to $6.00.
Key Highlights
- 1Reaffirms 2013 adjusted EPS expectations of $4.70 - $5.00.
- 2Expects average annual adjusted EPS growth of 5-7% through 2016.
- 3Projects 2016 adjusted EPS in the range of $5.50 - $6.00.
- 4Adjusted EPS excludes certain items like accounting standard changes, mark-to-market effects of non-qualifying hedges, and nuclear decommissioning fund impairments.
- 5Specific 2013 adjustments exclude gains/losses from Maine asset sales and impairment charges on Spanish solar facilities.
- 6Assumptions for projections include normal weather, stable economic conditions, supportive public policy for renewables, access to capital, and no significant acquisitions/divestitures or adverse litigation.
- 7The company provides extensive cautionary statements and risk factors that could materially impact future results.