NextEra Energy reports third-quarter 2017 financial results
NextEra Energy delivers solid third-quarter financial and operational results
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JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported third-quarter 2017 net income attributable to NextEra Energy on a GAAP basis of $847 million, or $1.79 per share, compared to $753 million, or $1.62 per share, in the third quarter of 2016. On an adjusted basis, NextEra Energy's third-quarter 2017 earnings were $875 million, or $1.85 per share, compared to $809 million, or $1.74 per share, in the third quarter of 2016.
Adjusted earnings for these periods exclude the effects of non-qualifying hedges, the net effect of other than temporary impairments (OTTI) on certain investments, operating results from the Spain solar projects and merger-related expenses.
NextEra Energy's management uses adjusted earnings, which is a non-GAAP financial measure, internally for financial planning, analysis of performance, 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 financial results and earnings outlook to analysts and investors. NextEra Energy's management believes that adjusted earnings provide a more meaningful representation of NextEra Energy's fundamental earnings power. A reconciliation of historical adjusted earnings to net income attributable to NextEra Energy, which is the most directly comparable GAAP measure, is included in the attachments to this news release.
"NextEra Energy delivered solid third-quarter results and remains well-positioned to achieve our overall objectives for 2017," said Jim Robo, chairman and chief executive officer of NextEra Energy. "NextEra Energy's third-quarter adjusted earnings per share increased more than 6 percent, driven primarily by new investments at both FPL and NextEra Energy Resources. FPL continues to advance its strategy of making long-term investments in energy infrastructure, while keeping electric bills low, maintaining high reliability and delivering superior customer service. Consistent with this strategy, FPL continues to make progress on its capital projects for the year and executed very well on behalf of customers while responding to Hurricane Irma – the largest hurricane event in our company's history. I am extremely proud that our team
The following information was filed by Nextera Energy Inc (NEE) on Thursday, October 26, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: NEE CIK: 753308 Form Type:10-Q Quarterly Report Accession Number: 0000753308-17-000142 Submitted to the SEC: Thu Oct 26 2017 4:43:16 PM EST Accepted by the SEC: Thu Oct 26 2017 Period: Saturday, September 30, 2017 Industry: Electric Services