NextEra Energy, Inc.
CEO : Mr. John W. Ketchum
Quarterly earnings growth(YoY,%)
| Period | Revenue | Operating Income | EPS | Release Date |
|---|---|---|---|---|
| 2022 Q4 | 22.2% YoY | 51.0% | 27.9% | 2023-01-25 |
John Ketchum says,
Review update and expected impact on NEE
- NextEra Energy completed its review of allegations of Florida state and federal campaign finance law violations raised in media articles and a related complaint filed in October with the Federal Election Commission.
- Based on the information in the possession of NextEra Energy, it believes that Florida Power & Light (FPL) would not be found liable for any Florida campaign finance law violations as alleged in the media articles.
- NextEra Energy plans to file its response seeking dismissal of the FEC complaint in the next few weeks and does not believe it is appropriate for a complaint such as this to move forward.
Financial results and expectations extension
- NextEra Energy and NextEra Energy Partners delivered terrific financial results in 2022 and both businesses have never been better positioned.
- NextEra Energy is extending its financial expectations for an additional year and is excited to share that it is continuing to drive long-term value for its customers and shareholders.
Renewable energy growth prospects
- NextEra Energy is well positioned to continue its track record of creating long-term value for shareholders through additional renewables and storage investments, expansion into new markets and products that enable even more renewables, and organic growth opportunities.
- FPL plans to lower costs for customers by deploying capital into low-cost solar, storage, and eventually hydrogen and transforming its generation fleet and continuing its decades-long strategy of fuel-switching.
- Energy Resources is building algorithms and tools to identify and optimize the best green hydrogen sites around the country and leveraging its significant interconnection and land inventory position.
Financial performance highlights
- NextEra Energy delivered full-year adjusted earnings per share of $2.90, up nearly 14% from 2021, and over the past 10 years, delivered compound annual growth in adjusted EPS of roughly 10% for its shareholders.
- NextEra Energy outperformed the S&P 500 Index by nearly 10% in 2022, despite a challenging year in the financial markets, and has outperformed the S&P 500 Index and the S&P 500 Utilities Index on a three, five, 10 and 15-year basis.
- FPL continues to provide exceptional service reliability and was recognized for the seventh time in eight years as being the most reliable electric utility in the nation.
- Energy Resources delivered adjusted earnings growth of nearly 11% versus the prior year and had a record year of new renewables and storage origination, adding more than 8,000 megawatts to its backlog as it continues to capitalize on the ongoing clean energy transition.
Rebecca Kujawa says,
Extension of Incentives
- IRA provisions provide extensions of incentives through the end of the decade and likely well beyond that.
- The 100% production tax credit for wind is expected to add significant change.
Positive Follow-on Effects
- Strong incentives on renewables are expected to have positive follow-on effects.
- Introduction of a hydrogen production tax credit is expected to create substantial demand and positive engagement around renewables to create green hydrogen and hydrogen related products.
Renewable Energy Development
- The company’s development team is having conversations that they’ve never had before regarding wind, solar, storage, and hydrogen products.
- The company is highly optimistic about the future of renewable energy.
Q & A sessions,
Executive Retirement and Transition
- Eric is retiring and his successor Christopher Chapel will be promoted to Chief Operating Officer
- Armando will be returning to the company as CEO and President of FPL
- Eric will stay through the middle of May for a smooth transition
FEC Process
- FPL does not believe that they will be found liable of a federal campaign finance violation based on their investigation.
- The Federal Election Commission will take 12 to 18 months to decide whether they should investigate further.
- FPL plans to file a motion for dismissal and believes the claims are not the type they should take up.
Repowering Opportunities
- FPL sees opportunities to enhance the value of their existing portfolio through repowering, adding battery storage, and investment in transmission.
- They are waiting for guidance from the treasury on this matter.
Green Hydrogen Market
- The market for green hydrogen is very active, and FPL is excited about opportunities to partner with key industry players to put forward projects.
- They expect significant ramp-up going into the end of the decade.
- The 800 megawatt term sheet for a project expected to COD in 2026 is a part of this effort.
FPL Liability
- FPL does not believe that the federal allegations taken as a whole would have a material impact on their business.
- The allegations in the complaint do not exceed $1.3 million, and the complaint is based solely on media reports and allegations.
No bad stock 