NextEra Energy profit skyrockets 55% to $3.14B

• NextEra Energy’s second-quarter net income increased 55% to $3.144 billion.
• Adjusted EPS reached $1.15, exceeding analysts’ average estimate of $1.11.
• The company added 3.6 gigawatts of renewables and storage projects to its development backlog.

NextEra Energy (NYSE:NEE) reported second-quarter net income of $3.144 billion, up 55%, while diluted EPS reached $1.50.

Adjusted earnings increased to $2.407 billion, or $1.15 per share, from $2.164 billion, or $1.05, one year earlier.

The adjusted EPS result exceeded analysts’ average estimate of $1.11, supported by higher earnings from the company’s energy businesses.

Florida Power & Light earned $1.41 billion, while regulatory capital employed increased approximately 9.3% from the previous year.

Following the announcement, NextEra Energy's share price was up 0.4% at $89.79.

During the period under review, NextEra Energy Resources earned $1.63 billion and added 3.6 gigawatts, taking its renewables and storage backlog to 35.1 gigawatts.

Elsewhere, NextEra and Dominion Energy filed for merger approvals after agreeing that Dominion investors would receive 0.8138 NextEra shares per share.