NEE NextEra Energy Inc

By Dean Seal

NextEra Energy Inc. said Friday that its bottom line was up nearly fourfold in the third quarter as revenue shot past Wall Street analyst expectations.

The Juno Beach, Fla.-based utility posted a profit of $1.7 billion, or 86 cents a share, compared with $447 million, or 23 cents a share, a year earlier.

Stripping out nonqualifying hedges and other one-time items, adjusted earnings came in at 85 cents a share, the company said. Analysts polled by FactSet had been expecting 80 cents a share.

Operating revenue rocketed to $6.72 billion from $4.37 billion, it said. Analysts had been $5.99 billion, according to FactSet.

Florida Power & Light, the company's largest business segment and the largest electric utility in the U.S., reported revenue of $5.08 billion, up from $4.13 billion in the third quarter of 2021.

The company's clean-energy business, NextEra Energy Resources, logged $1.65 billion in revenue, compared with $258 million a year earlier, it said.

Shares ticked up by nearly a percentage point to $76.18 in premarket trading.

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

(END) Dow Jones Newswires

October 28, 2022 08:06 ET (12:06 GMT)

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