NextEra Energy (NEE) posts solid Q3 results, EPS up 12%

Published on October 20, 2021 06:16 PM PDT

NextEra Energy (NEE) posts solid Q3 results, EPS up 12% — Image source: Who is Danny,Shutterstock

Highlights

NextEra Energy, Inc’s (NYSE: NEE) adjusted EPS rose by 12% YoY to US$0.75.

The company holds the No. 1 rank on Fortune's list of "World's Most Admired Companies" in the electricity and gas utility sector for 2021.

The NextEra stock rose 9% YTD. Its dividend yield is 1.9%.

NextEra Energy, Inc. (NYSE: NEE) on Wednesday posted strong third-quarter results on Wednesday.

Its adjusted earnings per share increased to US$0.75, up 12% YoY, from EPS of US$0.67 in the comparable quarter of 2020. NextEra’s revenue was US$4.37 billion for the September quarter compared to US$4.76 billion in Q3 in 2020.

Its net income attributable to NextEra Energy on a GAAP basis was US$447 million, or US$0.23 per share, compared to US$1,229 million, or US$0.62 per share, for the third quarter of 2020.

Also Read: Covid cases surge again: Will there be another lockdown?

NEE's outlook remains unchanged. The company expects earnings per share to stay in the range of between US$2.40 and US$2.54 for the full year of 2021.

For 2022 and 2023, NextEra expects earnings per share to be between US$2.55 and US$2.75, and US$2.77 and US$2.97, respectively.

Also Read: Top travel stocks to explore this holiday season

Source - pixabay

Also Read: Seven AAA-rated ESG firms: A look at how these stocks faring

Segment-wise

The Florida Power & Light Company (FPL) segment revenue was US$3.69 billion, Gulf Power contributed US$440 million, NEER revenue was US$258 million, and Corporate and other segments generated negative revenue of US$22 million, bringing the total operating revenue to US$4.37 billion. NextEra's operating income was US$379 million.

Also Read: Top chocolate and bakery stocks to explore for a sweet tooth

The Juno Beach, Florida-headquartered NEE is a clean energy company. It serves over 5.6 million customer accounts.

The Florida Power & Light Company is a vertically integrated and rate-regulated electric utility. It serves more than 11 million residents across Florida with clean and affordable electricity.

NextEra holds the No. 1 rank on Fortune's list of "World's Most Admired Companies" in the electricity and gas utility sector for 2021.

The company has a market cap of US$164.6 billion. Its P/E ratio is 52.62, and the forward P/E for one year is US$32.55. The annualized dividend is US$1.54, and the dividend yield is 1.9%.

The stock closed at US$82.03 on Oct 19, 2021.

Also Read: Nine inflation-protected ETFs to consider amid skyrocketing prices

Bottomline

The NYSE Energy Index (NYE) rose 50.02% YTD and 91.80% in one year. At the same time, NEE stock grew 9% YTD and 11% in one year. However, investors should evaluate the companies carefully before investing in the stock market.

Sanjeeb Baruah

Author

Sanjeeb Baruah - Financial Journalist
368 Posts
Sanjeeb is a senior journalist who has been in the media for nearly two decades. He wrote on various topics, from politics, international relations, business to wildlife. At Kalkine, he writes on stock markets, companies, equities, and IPOs, etc....

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.