CLAIM #45262 · Nextera Energy Inc (NEE) · 2023Q3 earnings call · Oct 24, 2023 · due Dec 31, 2026
“We will be disappointed if we are not able to deliver financial results at or near the top end of our adjusted EPS expectation ranges in each year from 2023 through 2026.”
Kirk Crews · CFO
How to check this claim
Look at: Adjusted EPS for each fiscal year, compared to company-issued adjusted EPS expectation range for that year
It came true if: Actual adjusted EPS falls at or near the top end (within top ~10% of the range) of the company's stated adjusted EPS expectation range, for each year 2023, 2024, 2025, and 2026
Where: Company earnings releases and investor presentations disclosing adjusted EPS and expectation ranges (Q4/full-year earnings calls for each respective year)
In context
“s has previously repowered roughly 6 gigawatts of its approximately 23 gigawatt operating wind portfolio, and we believe we will be able to repower much of our existing wind portfolio in the coming years. Also included in the backlog additions are roughly 250 megawatts of standalone battery storage projects co-located with existing wind and solar facilities. The combination of the standalone storage tax credit and the ability to utilize existing interconnection capacity from our operating renewables and storage footprint positions us well to serve our customers' growing needs for capacity. Turning now to our third quarter 2023 consolidated results, adjusted earnings from corporate and other decreased by $0.01 per share year-over-year. Our long-term financial expectations remain unchanged. We will be disappointed if we are not able to deliver financial results at or near the top end of our adjusted EPS expectation ranges in each year from 2023 through 2026. From 2021 to 2026, we continue to expect that our average annual growth and operating cash flow will be at or above our adjusted EPS compound annual growth rate range, and we continue to expect to grow our dividends per share at roughly 10% per year for at least 2024 off a 2022 base. As always, our expectations are subject to our caveats. Going forward, we plan to fund the business in a manner similar to how we have historically done so at both FPL and Energy Resources. This includes utilizing cash flow from operations for roughly half of our funding needs, in addition to tax equity, project finance, and corporate debt. The sale of tax credits is serving as a new source of capital funding for NextEra Energy. We expect to transfer roughly $400 million in tax credits in 2023 and expect this”
Verify independently
SEC filings for NEE ↗ · Claim quote is verbatim from the 2023Q3 earnings call.