NextEra 2Q Earnings Up Sharply as it Adds Solar-Power Capacity

By Rob Curran

NextEra Energy posted second-quarter earnings more than double the year-earlier level as the electricity generator added solar-power capacity.

The Juno beach, Fla., power producer said second-quarter net income rose to $2.8 billion, or $1.38 a share, from $1.38 billion, or 70 cents a share, a year earlier. Excluding items such as unqualified hedges and changes in value of investments held in a nuclear decommissioning fund, NextEra registered adjusted earnings of $1.78 billion, or 88 cents a share.

Second-quarter revenue rose 42% to $7.35 billion.

NextEra Energy Resources, NextEra’s renewable-energy arm, posted a more-than tenfold increase in second-quarter net income, which rose to $1.46 billion, or 72 cents a share.

Florida Power & Light, NextEra’s largest unit and largest US electric utility by customers, generated second-quarter earnings of $1.15 billion, or 57 cents a share. The unit placed about 225 megawatts of solar power in service during the three-month period.

NextEra reiterated its 2023 adjusted earnings projection, targeting a range of $2.98 to $3.13 a share.

Write to Rob Curran at rob.curran@dowjones.com

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