When NextEra Energy’s president said the third quarter revenues were strong, he wasn’t kidding.
With Oklahoma wind farm operations adding to its revenue, NextEra Energy, Inc. reported third quarter net income of $1,852 billion or 90 cents a share….up from the $1.219 billion and 60 cents a share reported in the third quarter of 2023.
On an adjusted basis, NextEra Energy’s 2024 third-quarter earnings were $2.127 billion, or $1.03 per share, compared to $1.920 billion, or $0.94 per share, in the third quarter of 2023.
“NextEra Energy delivered strong third-quarter results, increasing adjusted earnings per share by approximately 10% year-over-year, reflecting continue solid financial and operational performance at both our businesses,” said John Ketchum, chairman, president and chief executive officer in a press release.
“For the second consecutive quarter, NextEra Energy Resources added approximately 3 gigawatts of new renewables and storage projects to its backlog, delivering another strong renewables
origination quarter,” he added.
Ketchum said the company would be disappointed if it is not able to deliver financial results at or near the top of the firm’s adjusted earnings per share expectations ranges each year through 2027.
NextEra Energy Resources
NextEra Energy Resources reported third-quarter 2024 net income attributable to NextEra Energy on a
GAAP basis of $1.223 billion, or $0.59 per share, compared to net loss attributable to NextEra Energy of
$230 million, or $0.11 per share, in the prior-year comparable quarter. On an adjusted basis, NextEra
Energy Resources’ earnings for the third quarter of 2024 were $979 million, or $0.47 per share,
compared to $882 million, or $0.43 per share, for the third quarter of 2023.
NextEra Energy Resources, a subsidiary that focuses on wind and solar energy projects had another strong quarter for new renewables and storage origination, marking the second consecutive quarter of adding approximately 3 gigawatts (GW) to its backlog and bringing its four-quarter total to approximately 11 GW.
NextEra Energy Resources’ backlog now totals over 24 GW after taking into account roughly 1 GW of new projects placed into service since the secondquarter 2024 financial results call in July. NextEra Energy Resources also is announcing incremental
framework agreements with two Fortune 50 customers for the potential development of renewables and storage projects, totaling up to 10.5 GW between now and 2030, none of which is in its backlog today.
