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10-Q: Q3 2024 Earnings Report

SEC ·  Oct 23, 2024 21:26

Summary by Moomoo AI

NextEra Energy reported Q3 2024 net income of $1.85 billion ($0.90 per share), up 52% from $1.22 billion ($0.60 per share) in Q3 2023. FPL's net income rose to $1.29 billion from $1.18 billion, driven by continued investments in plant service and property. Operating revenues reached $7.57 billion, with FPL contributing $4.94 billion and NEER $2.59 billion.NEER's results improved significantly, with net income of $1.22 billion compared to a loss of $230 million in Q3 2023, benefiting from new investments and favorable non-qualifying hedge activity. The segment added substantial renewable energy capacity, including wind, solar and battery storage projects. Total assets grew to $186.01 billion as of September 30, 2024.The company maintained strong liquidity of approximately $12.0 billion and continued its expansion in clean energy. Notable developments included the completion of storm restoration charge recovery and new renewable energy projects. FPL earned an 11.80% regulatory ROE on its retail rate base and reduced its targeted regulatory ROE to 11.40% for full-year 2024.
NextEra Energy reported Q3 2024 net income of $1.85 billion ($0.90 per share), up 52% from $1.22 billion ($0.60 per share) in Q3 2023. FPL's net income rose to $1.29 billion from $1.18 billion, driven by continued investments in plant service and property. Operating revenues reached $7.57 billion, with FPL contributing $4.94 billion and NEER $2.59 billion.NEER's results improved significantly, with net income of $1.22 billion compared to a loss of $230 million in Q3 2023, benefiting from new investments and favorable non-qualifying hedge activity. The segment added substantial renewable energy capacity, including wind, solar and battery storage projects. Total assets grew to $186.01 billion as of September 30, 2024.The company maintained strong liquidity of approximately $12.0 billion and continued its expansion in clean energy. Notable developments included the completion of storm restoration charge recovery and new renewable energy projects. FPL earned an 11.80% regulatory ROE on its retail rate base and reduced its targeted regulatory ROE to 11.40% for full-year 2024.
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