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NextEra Energy with higher-than-expected profits on 2021 1Q

NextEra Energy 1Q

NextEra Energy reported higher-than-expected profits on its financial results for the first quarter of this year, and positioned as the biggest producer of wind and solar energy in the world.

Firstly, the company has indeed harvested the benefits of the energy transition around the world. In fact, last year the company briefly ousted ExxonMobil Corporation as the biggest U.S. energy company in market value.

Secondly, on the company’s financial report released this Wednesday, the company highlighted that during 2021 1Q, it added 1,750 megawatts of new capacity to its backlog. 503 of which are new solar capacity; while the remaining 916 are new wind projects.

Thirdly, NextEra’s customers of its Florida-focused electric utility (Florida Power and Light) rose by 71,400 during this first quarter; also, the company said that it expected 40% of the energy produced across the unit to be from zero-emission sources by 2030.

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Moreover, its 1Q net income accounted for $1,666 million, accountable to NextEra Energy on a GAAP basis. A substantial increase when compared with 2020’s same period of $421 million. For long-term financial expectations, the company forecasts adjusted earnings per share of $2.40 to $2.54 this year and a 6% to 8% growth in the next two years.

In addition, company’s CEO, Jim Robo, said. “We will be disappointed if we are not able to deliver financial results at or near the top end of our adjusted earnings per share expectations ranges in 2021, 2022 and 2023.”

He also remarked. “We grew adjusted earnings per share by nearly 14% year-over-year, reflecting successful performance across all of the businesses. Florida Power and Light continues to focus on delivering an outstanding value proposition of low bills, high reliability, outstanding customer service; and also, clean energy solutions for our customers.”

Finally, he concluded. “After a strong start to the year, we remain as enthusiastic as ever about our long-term growth prospects. We remain intensely focused on execution and believe NextEra Energy remains uniquely positioned to drive long-term shareholder value.”

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