NextEra Energy, Inc . NEE reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%. The bottom line was also up nearly 1.9% year over year.

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GAAP earnings per share for the fourth quarter were 58 cents compared with 59 cents in the year-ago period.

Adjusted earnings in 2024 were $3.43 per share compared with $3.17 in 2023, indicating year-over-year growth of 8.2%. The figure matched the upper end of the guided range of $3.23-$3.43 per share.

NEE’s Total Revenues

In the fourth quarter, NextEra Energy’s operating revenues were $5.38 billion, which lagged the Zacks Consensus Estimate of $6.49 billion by 17%. The top line declined 21.7% year over year due to weaker contributions from Florida Power & Light Company (“FPL”) and NextEra Energy Resources.

Operating revenues in 2024 were $24.8 billion compared with $28.1 billion in 2023.

NextEra Energy, Inc. Price, Consensus and EPS Surprise

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Segment Results of NEE

Florida Power & Light Company : The segment’s revenues amounted to nearly $3.86 billion, down 8.1% from the prior-year figure of $4.19 billion. Its earnings were 41 cents per share, on par with the year-ago reported figure.

NextEra Energy Resources : Its revenues amounted to $1.44 billion, down 45.5% from the prior-year figure of $2.56 billion. The segment’s earnings were 22 cents per share compared with 18 cents in the year-ago quarter.

Corporate and Other: Operating revenues for the reported quarter were $82 million compared with $25 million in the year-ago period. The operating loss in the fourth quarter was 10 cents per share, wider than the year-ago loss of 7 cents.

Highlights of NEE’s Q4 Release

FPL's best-in-class non-fuel O&M cost per customer is 50% lower than the second best in its peer group of large utilities, saving customers more than $24 each month on a typical 1,000-kilowatt-hour residential customer bill compared with an average-performing utility.

FPL continues to focus on making smart capital investments that keep bills as low as possible while delivering reliable electricity, as a consequence its typical residential customer bill is nearly 40% below the national average.

NextEra Energy Resources expanded its contracted renewables backlog by adding nearly 3.3 gigawatts (GW) of renewable projects in the quarter under discussion. Its backlog additions include nearly 1,200 megawatts (MW) of wind projects, 1,000 MW of solar projects, 1,000 MW of battery storage projects and 100 MW of wind repowering. The company’s renewables backlog is now more than 25 GW.

The segment continues to make progress in evaluating the recommissioning of its Duane Arnold Energy Center in Iowa. The company also filed a notice with the Nuclear Regulatory Commission to request a licensing change and has plans to restart plant operations as early as the end of 2028.