NextEra Energy Earnings: NEE Stock Slips on Q2 Sales Miss

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NextEra Energy (NYSE:NEE) earnings for the electric company’s second quarter of 2020 have NEE stock dipping lower on Friday. That’s despite its adjusted earnings per share of $2.61 coming in above Wall Street’s estimate of $2.51. However, the company’s revenue of $4.2 billion is nowhere close to analysts’ estimates of $5.17 billion.

NextEra Energy (NEE) website on smartphone

Source: madamF / Shutterstock.com

Now, let’s take a more thorough look at the most recent NextEra Energy earnings report.

  • Adjusted per-share earnings are up 11.1% from the $2.35 reported in the second quarter of 2019.
  • Revenue comes in 15.5% lower than the $4.97 billion reported in the same period of the year prior.
  • Operating income of $1.18 billion is a 32% decrease year-over-year from $1.75 billion.
  • The NextEra Energy earnings report also includes a net income of $1.13 billion.
  • That’s an almost 1% decline compared to the company’s net income of $1.14 billion from the same time last year.

Jim Robo, chairman and CEO of NextEra Energy, said this in the Q2 earnings report.

“NextEra Energy’s financial performance for the second quarter reflects strong operating performance across all of its businesses, with adjusted earnings per share increasing more than 11% year-over-year. Despite the challenges created by the COVID-19 pandemic, all of our businesses continue to perform well and maintain their excellent prospects for growth going forward.”

NextEra Energy is maintaining its outlook for 2020. It’s still expecting adjusted EPS for the year to range from $8.70 to $9.20. For comparison, Wall Street is estimating adjusted earnings per share of $9.09 in 2020.

NEE stock was down slightly as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/07/nextera-energy-earnings-dip-nee-stock/.

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