NextEra Energy, Inc. has announced first-quarter 2022 adjusted earnings of 74 cents per share, exceeding the Zacks Consensus Estimate of 69 cents, despite facing a significant GAAP loss of $451 million and a 22.4% revenue decline to $2.89 billion. The company's operating revenues fell well short of expectations, lagging by 44.2%, and it incurred staggering losses of $1.77 billion on hedges. Looking ahead, while the Florida-based utility anticipates benefits from a recent rate base settlement and maintains a positive earnings outlook of 6-8% growth through 2025, operational hurdles from a U.S. trade investigation could delay key solar and storage projects.
“NextEra Energy, Inc. NEE · reported · first-quarter 2022 adjusted earnings · 74 cents per share”
“NextEra Energy, Inc. NEE · GAAP loss for the first quarter · was · 23 cents”
“NextEra Energy, Inc. · operating revenues for the first quarter · $2,890 million · lagged the Zacks Consensus Estimate of $5,178 million by 44.2%”
“NextEra Energy, Inc. · total revenues · decreased · 22.4% year over year”
“NextEra Energy Resources · Earnings came in at · 32 cents per share · compared with 30 cents in the year-ago quarter”
“NextEra Energy Resources · expanded the contracted renewables backlog · by adding 1,770 MW of renewable projects · during first-quarter 2022”
“NextEra Energy · maintained earnings per share expectation · in the range of $2.93-$3.08 · for 2023”
“NextEra Energy · expects earnings per share to grow · 6-8% per year · for 2023 through 2025”
“NextEra Energy's unit, Energy Resources · currently aims to add · 22,675-30,000 MW of renewable power projects · within the 2021-2024 time frame”
“NextEra · carries · a Zacks Rank #3 · (Hold)”
“NextEra Energy, Inc. · is scheduled to release · first-quarter 2022 results · April 21, before the market opens”
“NextEra Energy, Inc. · delivered an earnings surprise of · last reported quarter · 2.5%”