NextEra Energy Earnings More Than Double in First Quarter
April 24 2018 - 8:55AM
Dow Jones News
By Dimitrios Kontos
NextEra Energy Inc. (NEE) on Tuesday said earnings more than
doubled in its first quarter reflecting the impact of the recent
tax reform and the de-consolidation of NextEra Energy Partners LP
(NEP) from its financial statements.
The Florida-based energy company reported a quarterly profit of
$4.43 billion, or $9.32 a share, up from $1.58 billion, or $3.37 a
share, a year earlier.
Excluding items, NextEra Energy reported an adjusted profit of
$1.94 a share, compared with $1.75 a share last year and analysts'
forecasts of $1.81 a share.
Sales fell to $3.86 billion from $3.97 billion in the
year-earlier period. This compares with analysts' forecasts of
$4.23 billion.
The company said that it continues to expect 2018 adjusted
earnings per share to be in the range of $7.45 to $7.95.
Chief Executive Jim Robo said "I will be disappointed if we are
not able to continue to deliver financial results at or near the
top of our 6% to 8% adjusted earnings per share compound annual
growth rate range through 2021."
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
April 24, 2018 08:40 ET (12:40 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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