Renewables Giant NextEra Books Higher-Than-Expected Q1 Earnings

NextEra Energy Inc NYSE NEE reported on Tuesday an 8.3% annual increase in its adjusted earnings per share for the first quarter, which topped analyst expectations, as the world’s largest wind and solar power generator added more customers to its regulated utilities business and boosted renewables capacity. NextEra Energy posted 2024 first-quarter adjusted earnings of $1.873 billion, or $0.91 per share, up from $1.678 billion, or $0.84 per share, for the first quarter of 2023.

NextEra Energy also owns a clean energy business, NextEra Energy Resources, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun and a world leader in battery storage. In the first quarter of 2024, FPL added around 1,640 MW of new cost-effective solar projects, and delivered an EPS increase of 4 cents, NextEra said. NextEra Energy Resources delivered adjusted earnings growth of about 13.

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