Headline: NextEra Energy Shares Decline Amid Disappointing Third-Quarter Results and Weak Forecast

JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE:NEE) reported third-quarter 2024 adjusted earnings that exceeded analyst expectations, though its revenue fell short and its forecast disappointed investors, leading to a 1.45% drop in shares during early trading. The clean energy giant announced an adjusted earnings per share of $1.03, surpassing the analyst consensus of $0.98. However, revenue came in at $7.57 billion, below the projected $8.08 billion.

NextEra Energy reaffirmed its full-year 2024 adjusted earnings per share guidance range of $3.23 to $3.43, which falls short of the analyst consensus midpoint of $3.41. For 2025, the company expects adjusted earnings per share to be between $3.45 and $3.70, below the consensus estimate of $3.68.

"NextEra Energy delivered strong third-quarter results by increasing adjusted earnings per share by approximately 10% year-over-year, reflecting ongoing solid financial and operational performance in both of our businesses," said Chairman, CEO, and President John Ketchum.

The company’s Florida Power & Light (FPL) subsidiary reported net income of $1.29 billion, or $0.63 per share, compared to $1.18 billion, or $0.58 per share, in the same quarter last year. FPL's growth was mainly driven by continued investments in the business, with regulatory capital employed rising approximately 9.5% year-over-year.

NextEra Energy Resources, the company's clean energy arm, added approximately 3 gigawatts of new renewable energy and storage projects to its portfolio during the quarter. The segment posted adjusted earnings of $979 million, or $0.47 per share, compared to $882 million, or $0.43 per share, in the third quarter of 2023.

Despite the mixed results and cautious forecast, NextEra Energy maintains its long-term financial outlook and continues to plan for annual dividend growth of about 10% through at least 2026.