NextEra Energy Files Q3 2024 10-Q
Ticker: NEE-PV · Form: 10-Q · Filed: Oct 23, 2024 · CIK: 753308
Sentiment: neutral
Topics: 10-Q, quarterly-filing, utility
Related Tickers: NEE
TL;DR
**NextEra Energy Q3 2024 10-Q filed. Financials look steady.**
AI Summary
NextEra Energy Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position. Key financial data and operational updates are provided for the third quarter of 2024.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational status of NextEra Energy, a major utility company, impacting its stock valuation and future investment decisions.
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
- 20240930 (date) — Reporting Period End Date
- 20241023 (date) — Filing Date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the filing covers the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
The filing date is 20241023.
What is the primary business of NextEra Energy Inc. according to the SIC code?
The Standard Industrial Classification (SIC) code is 4911, which corresponds to Electric Services.
What is the fiscal year end for NextEra Energy Inc.?
The fiscal year end for NextEra Energy Inc. is 1231.
What is the SEC file number for NextEra Energy Inc.?
The SEC file number for NextEra Energy Inc. is 001-08841.
Filing Stats: 4,492 words · 18 min read · ~15 pages · Grade level 18.7 · Accepted 2024-10-23 17:24:14
Key Financial Figures
- $0.01 — red NextEra Energy, Inc. Common Stock, $0.01 Par Value NEE New York Stock Exchange
Filing Documents
- nee-20240930.htm (10-Q) — 2929KB
- nee-q32024xex4.htm (EX-4) — 103KB
- nee-q32024xex22.htm (EX-22) — 12KB
- nee-q32024xex31a.htm (EX-31.A) — 10KB
- nee-q32024xex31b.htm (EX-31.B) — 10KB
- nee-q32024xex31c.htm (EX-31.C) — 10KB
- nee-q32024xex31d.htm (EX-31.D) — 11KB
- nee-q32024xex32a.htm (EX-32.A) — 7KB
- nee-q32024xex32b.htm (EX-32.B) — 7KB
- nee-20240930_g1.jpg (GRAPHIC) — 290KB
- nee-20240930_g2.jpg (GRAPHIC) — 56KB
- 0000753308-24-000057.txt ( ) — 15378KB
- nee-20240930.xsd (EX-101.SCH) — 93KB
- nee-20240930_cal.xml (EX-101.CAL) — 92KB
- nee-20240930_def.xml (EX-101.DEF) — 541KB
- nee-20240930_lab.xml (EX-101.LAB) — 1002KB
- nee-20240930_pre.xml (EX-101.PRE) — 674KB
- nee-20240930_htm.xml (XML) — 2868KB
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 43 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 56 Item 4.
Controls and Procedures
Controls and Procedures 56
– OTHER INFORMATION
PART II – OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 57 Item 1A.
Risk Factors
Risk Factors 57 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 57 Item 5 . Other Information 57 Item 6. Exhibits 58
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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 OPERATING REVENUES $ 7,567 $ 7,172 $ 19,368 $ 21,236 OPERATING EXPENSES Fuel, purchased power and interchange 1,451 1,554 3,937 4,280 Other operations and maintenance 1,247 1,196 3,541 3,391 Depreciation and amortization 1,642 1,957 3,949 4,272 Taxes other than income taxes and other – net 602 636 1,721 1,727 Total operating expenses – net 4,942 5,343 13,148 13,670 GAINS ON DISPOSAL OF BUSINESSES/ASSETS – NET 231 7 318 11 OPERATING INCOME 2,856 1,836 6,538 7,577 OTHER INCOME (DEDUCTIONS) Interest expense ( 1,817 ) ( 26 ) ( 2,960 ) ( 1,344 ) Equity in earnings (losses) of equity method investees 237 ( 954 ) 599 ( 721 ) Allowance for equity funds used during construction 50 43 147 105 Gains on disposal of investments and other property – net 1 29 132 126 Change in unrealized gains (losses) on equity securities held in NEER's nuclear decommissioning funds – net 108 ( 98 ) 148 ( 10 ) Other net periodic benefit income 66 62 171 184 Other – net 95 81 218 288 Total other income (deductions) – net ( 1,260 ) ( 863 ) ( 1,545 ) ( 1,372 ) INCOME BEFORE INCOME TAXES 1,596 973 4,993 6,205 INCOME TAX EXPENSE (BENEFIT) 5 ( 46 ) 168 838 NET INCOME 1,591 1,019 4,825 5,367 NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS 261 200 918 733 NET INCOME ATTRIBUTABLE TO NEE $ 1,852 $ 1,219 $ 5,743 $ 6,100 Earnings per share attributable to NEE: Basic $ 0.90 $ 0.60 $ 2.80 $ 3.02 Assuming dilution $ 0.90 $ 0.60 $ 2.79 $ 3.02 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 September 30, Nine Months End