- NextEra Energy's revenue for Q3 2014 was $4.65 billion, ahead of analysts’ $4.49 billion projection and up 5.9% from Q3 2013’s $4.40 billion, on the strength of key subsidiaries. Q3 2014 profit was $660 million, $1.50 per share, below analysts’ expectations of $1.54 per share and down from Q3 2013’s $698 million, $1.64 per share. Earnings excluding special items associated with renewables investments were up to $1.55 per share from Q3 2013’s $1.43 per share.
- On 1.8% growth in its customer base, regulated utility subsidiary Florida Power & Light increased Q3 2014 earnings to $462 million, $1.05 per share, from Q3 2103’s $422 million, $0.99 per share .
- Renewables subsidiary NextEra Energy Resources’ Q3 2014 earnings were down to $204 million, $0.46 per share, from Q3 2013’s $281 million, $0.66 per share, but it grew its renewables generation capacity by 445 megawatts with acquisitions of wind and utility-scale and rooftop solar projects.
NextEra Energy expects continued growth with 2014 adjusted earnings per share at between $5.15 and $5.35, those for 2015 at between $5.40 and $5.70, and those for 2016 at between $5.50 and $6.00.
NextEra Energy continued work on the Sabal Trail Transmission and Florida Southeast Connection natural gas pipelines and added the 300-mile Mountain Valley natural gas pipeline project in Q3.
FPL won regulatory approval to reduce residential electricity bills by about $2 per month starting in 2015.
"NextEra Energy Resources delivered excellent adjusted earnings growth, driven by strong contributions from growth in the contracted renewables portfolio,” said Chair/CEO Jim Robo. “NextEra Energy Resources also had a very strong quarter in terms of new contracted renewables.”