Summary
NextEra Energy, Inc. (NEE) filed an 8-K on September 2, 2014, primarily to disclose forward-looking statements that management planned to discuss at various investor meetings and industry conferences. The company reaffirmed its long-term growth expectations, including its 2014 adjusted earnings per share (EPS) forecast of $5.15 to $5.35 and projected average annual adjusted EPS growth of approximately 5-7% through 2016, targeting $5.50 to $6.00 for 2016. These projections are based on a 2012 adjusted EPS base. The company provided specific exclusions from its adjusted EPS calculations, such as accounting standard changes, mark-to-market effects of non-qualifying hedges, and impairment losses on nuclear decommissioning funds. Additionally, certain operational results, like those from Spanish solar thermal facilities and specific fossil asset gains in Maine, are excluded. The expectations are contingent on several assumptions including normal weather, economic recovery, supportive public policy for renewables, access to capital, and no significant acquisitions, divestitures, adverse litigation, or changes in tax policy.
Key Highlights
- 1Reaffirmed 2014 adjusted EPS guidance of $5.15 to $5.35.
- 2Projected average annual adjusted EPS growth of 5-7% through 2016, targeting $5.50 to $6.00 for 2016 (based on 2012 adjusted EPS).
- 3Disclosed specific exclusions from adjusted EPS calculations, including accounting adjustments, hedging impacts, and certain operational results.
- 4Stated that expectations are subject to various assumptions, including normal weather, economic recovery, and supportive public policy for renewables.
- 5Detailed numerous risk factors that could materially impact future results, covering regulatory, economic, operational, and capital market uncertainties.
- 6Provided a link for investors to access presentation materials on the company's investor relations website.