NextEra Energy, Inc.
Media Line: (561) 694-4442
FOR IMMEDIATE RELEASE
NextEra Energy reports 2013 fourth-quarter and full-year financial
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JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2013 fourth-quarter net income on a GAAP basis of $327 million, or $0.75 per share, compared with $429 million, or $1.02 per share, in the fourth quarter of 2012. On an adjusted basis, NextEra Energy’s earnings were $414 million, or $0.95 per share, compared with $433 million, or $1.03 per share, in the fourth quarter of 2012.
For the full year 2013, NextEra Energy reported net income on a GAAP basis of $1.9 billion, or $4.47 per share, compared with $1.9 billion, or $4.56 per share, in 2012. On an adjusted basis, NextEra Energy’s 2013 earnings were $2.1 billion, or $4.97 per share, for the full year, compared with $1.9 billion, or $4.57 per share, in 2012.
Adjusted earnings exclude the mark-to-market effects of non-qualifying hedges, as well as the net effect of other than temporary impairments (OTTI) on certain investments and operating results from the Spain solar project. For 2013, adjusted earnings expectations also exclude the gain on the sale of the Maine hydropower assets, a charge associated with the decision to sell merchant fossil assets in Maine, and charges associated with an impairment on the Spain solar project. All of these items relate primarily to the business of NextEra Energy Resources, LLC and its affiliated entities.
NextEra Energy’s management uses adjusted earnings, which is a non-GAAP financial measure, internally for financial planning, for analysis of performance, for reporting of results to the Board of Directors and as an input in determining performance-based compensation under the company’s employee incentive compensation plans. NextEra Energy also uses earnings expressed in this fashion when communicating its earnings outlook to analysts and investors. NextEra Energy management believes that adjusted earnings provide a more meaningful representation of NextEra Energy’s fundamental earnings power. The attachments to this news release include a reconciliation of historical adjusted earnings to net income, which is the most directly comparable GAAP measure.
The following information was filed by Nextera Energy Inc (NEE) on Tuesday, January 28, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.