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NextEra Energy (NYSE:NEE) -6.2% in Wednesday’s trading after reporting mixed Q2 results and providing earnings guidance through 2027 that appear to have underwhelmed investors.
Q2 net profit increased to $2.03B, or $0.98/share, from $1.62B, or $0.79/share, in the year-earlier quarter, while revenue jumped 10% Y/Y to $6.7B but came in below analyst estimates; Q2 profit at Florida Power & Light, NextEra’s (NYSE:NEE) biggest unit and the largest U.S. electric utility by customers, edged up to $1.28B from $1.23B a year ago, but earnings at NextEra Energy Resources, the company’s renewable energy unit, surged to $983M from $552M as its backlog rose on increased activity from technology and data center customers.
NextEra Energy Resources added ~3.2 GW of new renewables and storage to its backlog during the quarter, including more than 1 GW serving hyperscalers; the unit’s backlog now totals ~30 GW.
NextEra (NEE) maintained its outlook for FY 2025 adjusted earnings of $3.45-$3.70/share and guided for EPS of $3.63-$4.00 for 2026 and $3.85-$4.32 for 2027.
The company has started construction on several new clean energy projects that will qualify for tax credits that will be phased out under President Trump’s new economic legislation, CEO John Ketchum said, pointing to the “very important exception” that will allow it to qualify for credits for projects that begin construction within 12 months.
“We believe that we’ve begun construction on a sufficient number of projects to cover our development expectations through 2029,” Ketchum said on NextEra’s (NEE) earnings conference call, according to Bloomberg.