NEE NextEra Energy Inc

By Dean Seal

NextEra Energy Inc. logged higher revenue and a significantly larger profit in the second quarter, though its top line was below market expectations.

The Juno Beach, Fla.-based utility posted net income attributable to the company of $1.38 billion, or 70 cents a share, in the second quarter, compared with $256 million, or 13 cents a share, a year earlier.

Stripping out the effects of nonqualifying hedges, adjusted earnings were 81 cents a share, it said. Analysts had been expecting adjusted earnings of 76 cents a share, according to FactSet.

Revenue was $5.18 billion, up from $3.93 billion, it said. Analysts surveyed by FactSet had been expecting $5.35 billion in revenue.

Florida Power & Light, the company's largest business segment and the largest electric utility in the U.S., reported revenue of $4.43 billion. It reported earnings of 50 cents a share, compared with 45 cents a share a year earlier, the company said.

NextEra Energy Resources, the company's clean-energy business, swung to a profit of $133 million, or seven cents a share, from a loss of $315 million, or 16 cents a share, it said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

July 22, 2022 08:14 ET (12:14 GMT)

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