Press Mention Seeking Alpha July 23, 2020
SACE Referenced
NextEra Energy tops Q2 earnings view, reaffirms full-year guidance
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NextEra Energy reported Q2 earnings that topped estimates and reaffirmed full-year guidance despite COVID-19 impacts. The article notes that according to a recent analysis by the Southern Alliance for Clean Energy, NextEra's Florida subsidiaries lag the rest of the U.S. in commitments to energy efficiency.
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NextEra Energy (NYSE: NEE)-0.2% pre-market after Q2 earnings top estimates and exceeded year-ago levels, as the utility reports minimal effects from COVID-19.
Q2 revenues fell 15% Y/Y to $4.2B from $4.97B in the prior-year quarter and came in ~$1B short of analyst expectations.
Q2 net income for the company's Florida Power & Light subsidiary rose 13% Y/Y to $749M, and net income of the Gulf Power subsidiary jumped 22% to $55M.
NextEra reaffirms FY 2020 adjusted EPS of $8.70-$9.20, in line with $9.09 analyst consensus estimate, as well as guidance forecasting 6%-8% adjusted EPS growth annually in 2021-22, which would translate to $10.00-$10.75.
NextEra's Florida subsidiaries lag the the rest of the U.S. in commitments to energy efficiency, according to a recent analysis by the Southern Alliance for Clean Energy.