NextEra Energy 2Q Profit Rises; Revenue Gains
July 22 2022 - 8:29AM
Dow Jones News
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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