NextEra pulled in nearly $7 billion in net income in 2024

 

One of the big renewable energy operators in Oklahoma, NextEra Energy Inc. had more than $1 billion in earnings in 2024.

The company reported net income of $1.203 billion or 58 cents a share. While the earnings seemed to be huge, they were also less than the $1.210 billion or 59 cents a share for the fourth quarter of 2023.

NextEra has 18 operational wind centers in the state and the firm claims it has invested $7.6 billion in the state. Plus, the renewable energy company is in the process of construction of the Skeleton Creek Energy center, a 2,000-acre solar farm near Waukomis in Garfield County. NextEra says it will be operational by the end of the year.

On an adjusted basis, NextEra Energy’s 2024 fourth-quarter earnings were $1.095 billion, or $0.53 per share, compared to $1.067 billion, or $0.52 per share, in the fourth quarter of 2023.
For the full year 2024, NextEra Energy reported net income attributable to NextEra Energy on a GAAP basis of
$6.946 billion, or $3.37 per share, compared to $7.310 billion, or $3.60 per share, in 2023.

On an adjusted basis, NextEra Energy’s full-year 2024 earnings were $7.063 billion, or $3.43 per share, compared to $6.441 billion, or $3.17 per share, in 2023, which represents year-over-year growth in adjusted earnings per share of approximately
8.2%.
“NextEra Energy had an excellent year of execution in 2024, growing full-year adjusted earnings per share by more
than 8% over 2023 and once again achieving the top end of our adjusted earnings per share expectations range,”
said John Ketchum, chairman, president and chief executive officer.

“Continuing our track record of providing longterm value for shareholders, we have delivered compound annual growth in adjusted earnings per share of more than 10% since 2021 and of approximately 10% over the past 10 years, both of which are the highest among all top-10 power companies. NextEra Energy generates more electricity and invests more in energy infrastructure than any other company in the U.S. and in 2024 placed into service roughly 8.7 gigawatts of new renewables and
storage projects, expanding our leadership in power generation.”

He said based on the company’s experience, it should be well positioned to capitalize on the opportunity set that lies ahead and the increased power demand happening now in the U.S.

“Given the strength of both of our businesses, we will be disappointed if we are not able to deliver financial results at or near the top of our adjusted earnings per share expectations ranges in each year through 2027, while maintaining our strong balance sheet and credit ratings.”

NextEra Energy Resources reported fourth-quarter 2024 net loss attributable to NextEra Energy on a GAAP basis of $442 million, or $0.21 per share, compared to net income attributable to NextEra Energy of $885 million, or $0.43 per share, in the prior-year comparable quarter. On an adjusted basis, NextEra Energy Resources’ earnings for the fourth quarter of 2024 were $446 million, or $0.22 per share, compared to $361 million, or $0.18 per share, for the fourth quarter of 2023.

For the full year 2024, NextEra Energy Resources reported net income attributable to NextEra Energy on a GAAP basis of $2.299 billion, or $1.12 per share, compared to $3.558 billion, or $1.75 per share, in the prior-year comparable quarter. On an adjusted basis, NextEra Energy Resources’ earnings for the full year 2024 were $3.118 billion, or $1.51 per share, compared to $2.757 billion, or $1.36 per share, for the full year 2023.