NextEra Energy Reports Strong Q2 Earnings

NextEra Energy, a leading electricity generator based in Juno Beach, Florida, announced its impressive second-quarter earnings for this year. The company's net income more than doubled compared to the same period last year, largely due to the addition of solar-power capacity.

Financial Performance

During the second quarter, NextEra Energy registered net income of $2.8 billion, or $1.38 per share, compared to $1.38 billion, or 70 cents per share, in the previous year. Adjusted for nonqualified hedges and changes in the value of investments held in a nuclear decommissioning fund, the company's adjusted earnings reached $1.78 billion, or 88 cents per share. Furthermore, the company experienced substantial revenue growth, with second-quarter revenues rising by 42% to reach $7.35 billion.

Renewable Energy Arm - NextEra Energy Resources

NextEra Energy Resources, the renewable-energy division of NextEra, demonstrated remarkable financial performance during the second quarter. The division's net income increased more than tenfold, reaching $1.46 billion, or 72 cents per share.

Largest Electric Utility - Florida Power & Light

Florida Power & Light (FPL), NextEra's largest unit and the largest electric utility in the United States in terms of customers, recorded second-quarter earnings of $1.15 billion, or 57 cents per share. During this period, FPL also added 225 megawatts of solar power to its services.

Future Projections

NextEra remains optimistic about its future performance and reiterated its adjusted earnings projection for 2023. The company aims to achieve a range of $2.98 to $3.13 per share.

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