NextEra Energy Files Q2 2024 10-Q

TL;DR

NEXTERA ENERGY (NEE) FILED ITS Q2 10-Q. FINANCIALS ARE IN.

AI Summary

NextEra Energy Inc. filed its 10-Q for the period ending June 30, 2024. The filing provides an update on the company's financial position and operational performance. Specific financial details and operational highlights for the second quarter of 2024 are detailed within the report.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for NextEra Energy, a major utility company, influencing investment decisions and market perception.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• NEXTERA ENERGY INC (company) — Filer
• FLORIDA POWER & LIGHT CO (company) — Subsidiary Filer
• 20240630 (date) — Period of Report

FAQ

Key Financial Figures

• $0.01 — red NextEra Energy, Inc. Common Stock, $0.01 Par Value NEE New York Stock Exchange

Filing Documents

• nee-20240630.htm (10-Q) — 2896KB
• nee-q22024xex4a.htm (EX-4.A) — 149KB
• nee-q22024xex4b.htm (EX-4.B) — 943KB
• nee-q22024xex4c.htm (EX-4.C) — 331KB
• nee-q22024xex4d.htm (EX-4.D) — 132KB
• nee-q22024xex4e.htm (EX-4.E) — 239KB
• nee-q22024xex4f.htm (EX-4.F) — 205KB
• nee-q22024xex10a.htm (EX-10.A) — 52KB
• nee-q22024xex10b.htm (EX-10.B) — 53KB
• nee-q22024xex10c.htm (EX-10.C) — 154KB
• nee-q22024xex22.htm (EX-22) — 12KB
• nee-q22024xex31a.htm (EX-31.A) — 10KB
• nee-q22024xex31b.htm (EX-31.B) — 10KB
• nee-q22024xex31c.htm (EX-31.C) — 10KB
• nee-q22024xex31d.htm (EX-31.D) — 11KB
• nee-q22024xex32a.htm (EX-32.A) — 7KB
• nee-q22024xex32b.htm (EX-32.B) — 7KB
• image_0.jpg (GRAPHIC) — 14KB
• image_01.jpg (GRAPHIC) — 2KB
• nee-20240630_g1.jpg (GRAPHIC) — 290KB
• nee-20240630_g2.jpg (GRAPHIC) — 56KB
• 0000753308-24-000050.txt ( ) — 17567KB
• nee-20240630.xsd (EX-101.SCH) — 88KB
• nee-20240630_cal.xml (EX-101.CAL) — 92KB
• nee-20240630_def.xml (EX-101.DEF) — 526KB
• nee-20240630_lab.xml (EX-101.LAB) — 974KB
• nee-20240630_pre.xml (EX-101.PRE) — 656KB
• nee-20240630_htm.xml (XML) — 2818KB

Forward-Looking Statements

Forward-Looking Statements 4

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 54 Item 4.

Controls and Procedures

Controls and Procedures 54

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 55 Item 1A.

Risk Factors

Risk Factors 55 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 55 Item 5 . Other Information 55 Item 6. Exhibits 56

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, strategies, future events or performance (often, but not always, through the use of words or phrases such as may result, are expected to, will continue, is anticipated, believe, will, could, should, would, estimated, may, plan, potential, future, projection, goals, target, outlook, predict and intend or words of similar meaning) are not statements of historical facts and may be forward looking. Forward-looking statements involve estimates, assumptions and uncertainties. Accordingly, any such statements are qualified in their entirety by reference to, and are accompanied by, the following important factors (in addition to any assumptions and other factors referred to specifically in connection with such forward-looking statements) that could have a significant impact on NEE's and/or FPL's operations and financial results, and could cause NEE's and/or FPL's actual results to differ materially from those contained or implied in forward-looking statements made by or on behalf of NEE and/or FPL in this combined Form 10-Q, in presentations, on their respective websites, in response to questions or otherwise. Regulatory, Legislative and Legal Risks NEE's and FPL's business, financial condition, results of operations and prospects may be materially adversely affected by the extensive regulation of their business. NEE's and FPL's business, financial condition, results of operations and prospects could be materially adversely affected if they are unable to recover in a timely manner any significant amount of costs, a return on certain assets or a reasonable return on invested capital through base rates, cost recovery clauses, other regulatory mechanisms or otherwise. Regulatory decisions that are important to

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements NEXTERA ENERGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (millions, except per share amounts) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 OPERATING REVENUES $ 6,069 $ 7,349 $ 11,801 $ 14,065 OPERATING EXPENSES Fuel, purchased power and interchange 1,280 1,359 2,486 2,726 Other operations and maintenance 1,171 1,127 2,293 2,194 Depreciation and amortization 1,409 1,494 2,307 2,315 Taxes other than income taxes and other – net 568 576 1,120 1,093 Total operating expenses – net 4,428 4,556 8,206 8,328 GAINS ON DISPOSAL OF BUSINESSES/ASSETS – NET 29 6 87 4 OPERATING INCOME 1,670 2,799 3,682 5,741 OTHER INCOME (DEDUCTIONS) Interest expense ( 820 ) ( 135 ) ( 1,143 ) ( 1,318 ) Equity in earnings of equity method investees 159 132 362 233 Allowance for equity funds used during construction 41 31 97 62 Gains on disposal of investments and other property – net 116 101 131 97 Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net ( 89 ) ( 7 ) 40 88 Other net periodic benefit income 66 62 104 122 Other – net 89 78 123 207 Total other income (deductions) – net ( 438 ) 262 ( 286 ) ( 509 ) INCOME BEFORE INCOME TAXES 1,232 3,061 3,396 5,232 INCOME TAX EXPENSE (BENEFIT) ( 64 ) 497 163 883 NET INCOME 1,296 2,564 3,233 4,349 NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS 326 231 657 532 NET INCOME ATTRIBUTABLE TO NEE $ 1,622 $ 2,795 $ 3,890 $ 4,881 Earnings per share attributable to NEE: Basic $ 0.79 $ 1.38 $ 1.90 $ 2.43 Assuming dilution $ 0.79 $ 1.38 $ 1.89 $ 2.42 This report should be read in conjunction with the Notes herein and the Notes to Consolidated Financial Statements appearing in the 2023 Form 10-K. 7 NEXTERA ENERGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 NET INCOME $ 1,

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View this 10-Q filing on SEC EDGAR