Amended: NextEra Energy Q4 Profit Tops View; Lifts Annual Profit Outlook

(RTTNews) - (Corrects and replaces the earlier story)

NextEra Energy Inc. (NEE) reported its fourth-quarter net income of $1.20 billion or $0.61 per share, compared to a net loss of $5 million or break even per share in the same quarter last year.

On an adjusted basis, quarterly earnings were $814 million or $0.41 per share, compared to $785 million or $0.40 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share for the fourth quarter. Analysts' estimates typically exclude special items.

Operating revenues for the fourth quarter increased to $5.05 billion from $4.40 billion last year. Analysts expected revenues of $6.26 billion for the fourth quarter.

NextEra Energy raised its full-year adjusted earnings outlook to $2.75 to $2.85 per share, from the prior outlook of $2.55 to $2.75. Analysts expect annual earnings of $2.74 per share.

For 2023 through 2025, NextEra Energy expects to grow roughly 6% to 8% per year off the expected 2022 adjusted earnings per share.

For 2023, the company now projects adjusted earnings per share to be between $2.93 and $3.08, up from the prior view of $2.77 to $2.97.

Looking ahead, the company anticipates adjusted earnings per share of $3.13 to $3.33 for 2024, and and $3.35 to $3.60 for 2025.