NextEra Energy Q2 earnings on deck: What to expect

NextEra Energy (NYSE:NEE) is expected to report its quarterly earnings on July 24, Wednesday, and the firm is forecasted to post a rise in its earnings per share.

The consensus EPS Estimate is $0.94 (+6.8% Y/Y) and the consensus Revenue Estimate is $7.45B (+1.4% Y/Y).

Morgan Stanley analysts, said investors should take advantage of recent weakness to buy select stocks in the clean tech and renewable energy space, including NextEra Energy (NEE).

In June, the company had unveiled plans to sell nearly $2B of equity units, each issued in a stated amount of $50.

SA analyst Envision Research expects the firm to either reaffirm the full-year guidance or raise it from the range announced in Q1.

“My optimism stems from the new developments in the past quarter. The top ones are Florida’s strong economy, NEE’s expansion projects, and the new interest rate outlook,” Envision Research said.

“Despite high valuation and regulatory risks, NEE’s operational efficiency and strategic focus make it a compelling choice in the utility sector,” another SA analyst Leo Nelissen said.

Last quarter, the firm had reported better than expected adjusted earnings but lower revenues, with top line declines at both its major electric utility and its renewables business.

Over the last 2 years, NEE has beaten EPS estimates 100% of the time and has beaten revenue estimates 50% of the time.

Over the last 3 months, EPS estimates have seen 6 upward revisions and 3 downward. Revenue estimates have seen 4 upward revisions and 0 downward.

Shares in the company were up 19.5% since the start of the year.