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NextEra
🇺🇸 NYSE:NEE
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Dec 31, 2023

NextEra Q4 2023 Earnings Report

NextEra Energy reported strong fourth-quarter and full-year 2023 financial results, exceeding adjusted earnings per share expectations and demonstrating robust operational performance at both FPL and NextEra Energy Resources.

Key Takeaways

NextEra Energy reported Q4 2023 net income attributable to NextEra Energy on a GAAP basis of $1.210 billion, or $0.59 per share, compared to $1.522 billion, or $0.76 per share, for Q4 2022. On an adjusted basis, the company's Q4 2023 earnings were $1.067 billion, or $0.52 per share, compared to $1.011 billion, or $0.51 per share, in Q4 2022. NextEra Energy Resources had a record year of new renewables and storage origination, adding approximately 9,000 megawatts to its backlog.

NextEra Energy exceeded the high end of its adjusted earnings per share expectations range due to strong operational and financial performance at both FPL and NextEra Energy Resources.

FPL continues to deliver for its customers with a focus on keeping bills affordable, delivering exceptional reliability and executing its well-established capital plan.

NextEra Energy Resources had its best-ever year of new renewables and storage origination, adding approximately 9,000 megawatts to its backlog.

NextEra Energy expects to grow 6% to 8% off the 2024 adjusted earnings per share range for 2025 and 2026.

Total Revenue
$6.88B
Previous year: $6.16B
+11.6%
EPS
$0.52
Previous year: $0.51
+2.0%
Gross Profit
$4.41B
Previous year: $3.4B
+29.9%
Cash and Equivalents
$2.69B
Previous year: $1.6B
+68.0%
Free Cash Flow
$784M
Total Assets
$177B
Previous year: $159B
+11.7%

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Forward Guidance

NextEra Energy's long-term financial expectations remain unchanged. For 2024, NextEra Energy continues to expect adjusted earnings per share to be in the range of $3.23 to $3.43. For 2025 and 2026, NextEra Energy expects to grow 6% to 8%, off the 2024 adjusted earnings per share range. This translates to a range of $3.45 to $3.70 for 2025 and $3.63 to $4.00 for 2026.

Positive Outlook

  • Adjusted earnings per share to be in the range of $3.23 to $3.43 for 2024.
  • Expects to grow 6% to 8%, off the 2024 adjusted earnings per share range for 2025 and 2026.
  • Expects adjusted earnings per share to be in the range of $3.45 to $3.70 for 2025.
  • Expects adjusted earnings per share to be in the range of $3.63 to $4.00 for 2026.
  • Continues to expect to grow its dividends per share at a roughly 10% rate per year through at least 2024, off a 2022 base.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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