NextEra Energy, Inc.
Media Line: 561-694-4442
FOR IMMEDIATE RELEASE
NextEra Energy reports third-quarter 2018 financial results
NextEra Energy delivers strong third-quarter financial and operational results
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NextEra Energy Resources executes its most successful quarter ever for renewables origination, adding nearly 2,100 megawatts to backlog
JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2018 third-quarter net income attributable to NextEra Energy on a GAAP basis of $1.007 billion, or $2.10 per share, compared to $847 million, or $1.79 per share, for the third quarter of 2017. On an adjusted basis, NextEra Energy's 2018 third-quarter earnings were $1.039 billion, or $2.18 per share, compared to $875 million, or $1.85 per share, in the third quarter of 2017.
Adjusted earnings for these periods exclude the transitional impacts of tax reform, the effects of non-qualifying hedges, NextEra Energy Partners, LP net investment gains, 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 third-quarter results and remains well-positioned to meet our 2018 expectations and long-term growth prospects," said Jim Robo, chairman and chief executive officer of NextEra Energy. "We grew adjusted earnings per share by approximately 18 percent against the prior-year comparable quarter, reflecting excellent execution at FPL and NextEra Energy Resources. FPL's major capital initiatives remain on track, while, at the same time, we remain laser-focused on delivering low bills, high reliability, clean energy and outstanding service to our customers. The NextEra Energy Resources development team marked the most successful quarter of renewables origination in our history, adding nearly 2,100 megawatts of renewables projects to its backlog, including approximately
The following information was filed by Nextera Energy Inc (NEE) on Tuesday, October 23, 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.