NextEra Energy First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

NextEra Energy (NYSE:NEE) First Quarter 2024 Results

Key Financial Results

• Revenue: US$5.73b (down 15% from 1Q 2023).
• Net income: US$2.27b (up 8.7% from 1Q 2023).
• Profit margin: 40% (up from 31% in 1Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$1.11 (up from US$1.04 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

NextEra Energy EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 8.5%. Earnings per share (EPS) exceeded analyst estimates by 42%.

Looking ahead, revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Electric Utilities industry in the US.

Performance of the American Electric Utilities industry.

The company's shares are up 4.5% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for NextEra Energy (1 is significant!) that you should be aware of.

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