NextEra Energy, Inc.
Media Line: 561-694-4442
FOR IMMEDIATE RELEASE
NextEra Energy reports first-quarter 2018 financial results
NextEra Energy delivers strong first-quarter financial and operational results
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JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported first-quarter 2018 net income attributable to NextEra Energy on a GAAP basis of $4.428 billion, or $9.32 per share, compared to $1.583 billion, or $3.37 per share, in the first quarter of 2017. On an adjusted basis, NextEra Energy's first-quarter 2018 earnings were $919 million, or $1.94 per share, compared to $820 million, or $1.75 per share, in the first quarter of 2017. This quarter's GAAP results reflect significant gains from the deconsolidation of NextEra Energy Partners, LP from NextEra Energy's financial statements and the impacts of tax reform.
Adjusted earnings for these periods exclude the effects of non-qualifying hedges, NextEra Energy Partners, LP net investment gains, the transitional impacts of tax reform, gains on disposal of a business/assets in 2017, change in unrealized gains and losses on equity securities held in NextEra Energy Resources' nuclear decommissioning funds and other than temporary impairments (OTTI), 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 strong first-quarter results and is off to a solid start toward achieving our overall objectives for the year," said Jim Robo, chairman and chief executive officer of NextEra Energy. "We grew adjusted earnings per share by almost 11 percent against the prior-year comparable quarter, reflecting successful performance at both Florida Power & Light
The following information was filed by Nextera Energy Inc (NEE) on Tuesday, April 24, 2018 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.