US clean energy company NextEra Energy Inc (NYSE:NEE) on Tuesday posted a first-quarter attributable net profit of USD 2.09 billion (EUR 1.9bn) after a loss of USD 451 million in the year-ago period, and reiterated its long-term financial guidance.
The growth was fuelled by the commissioning of new renewable energy capacity and an increase in operating revenues, which more than doubled compared to the same period a year back. On an adjusted basis, net earnings rose to USD 1.68 billion from USD 1.46 billion a year back.
“Following a year of strong financial results, NextEra Energy is off to a solid start in 2023, delivering strong first-quarter adjusted earnings per share growth of approximately 13.5% year-over-year,” said president and CEO John Ketchum.
| Amounts in USD million | Q1 2023 | Q1 2022 |
| Operating revenues | 6,716 | 2,890 |
| Total operating expenses | 3,772 | 3,688 |
| Operating income (loss) | 2,942 | (775) |
| GAAP net profit (loss) | 2,086 | (451) |
| GAAP EPS | 1.04 | (0.23) |
| Adjusted net profit | 1,678 | 1,455 |
| Adjusted EPS | 0.84 | 0.74 |
Florida Power & Light Company (FPL), which incorporates the results of Gulf Power Company following the merger of the businesses in 2021, lifted its first-quarter net profit to USD 1.1 billion from USD 875 million a year back thanks to continued investments. The utility brought online 970 MW of solar capacity and unveiled plans to add 20,000 MW more in the next 10 years.
NextEra Energy Resources, the clean energy business of NextEra Energy, recorded a net profit of USD 1.44 billion against a loss of USD 1.5 billion a year earlier. The unit originated 1,370 MW of solar, 450 MW of storage and 200 MW of wind projects, expanding its backlog to more than 20,400 MW.
Looking ahead, the parent company confirmed its adjusted earnings per share (EPS) for 2023 and 2024, expecting USD 2.98-3.13 and USD 3.23-3.43, respectively. It also kept its guidance for EPS of between USD 3.45 and USD 3.70 in 2025 and USD 3.63-4.00 in 2026.
“We remain confident in NextEra Energy’s long-term growth prospects [..],” the CEO said.
(USD 1.0 = EUR 0.909)
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