NextEra Energy Misses Q4 Earnings Estimates Amid Challenges in Renewables Segment

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NextEra Energy (NEE) reported its fourth-quarter earnings for 2024, revealing a slight miss in both earnings and revenue, as the company grappled with increased costs in its renewable energy segment.

The energy giant posted earnings of $0.58 per share, falling short of analysts’ expectations of $0.59 per share.

Additionally, its revenue for the quarter came in at $5.39 billion, significantly lower than the consensus estimate of $7.07 billion.

The company attributed the shortfall to a sharp 45.5% decline in its renewable energy unit, NextEra Energy Resources (NEER).

This segment, which focuses on solar and wind energy projects, was impacted by a one-time loss of $845 million, tied to certain subsidiary investments and rising operational expenses.

Despite the challenges, NextEra Energy remains optimistic about its long-term growth prospects. The company reaffirmed its 2025 profit forecast, projecting earnings in the range of $3.45 to $3.70 per share.

Looking ahead, NextEra has committed to substantial expansion in renewable energy, with plans to add nearly 5.4 gigawatts of new solar generation capacity and approximately 3.4 gigawatts of new battery storage projects between 2026 and 2029.

The company’s CEO, John Ketchum, expressed confidence in the ongoing investments and their potential to drive future growth, stating, “We remain committed to our clean energy transition and are positioning the company for long-term success despite short-term setbacks.”

Despite the quarterly underperformance, NextEra Energy’s strategic vision continues to focus on its renewable energy portfolio, making significant strides towards expanding clean energy infrastructure across the U.S. and beyond.

Key Highlights:

• Q4 Earnings: $0.58 per share, missing estimates of $0.59 per share.
• Q4 Revenue: $5.39 billion, below consensus expectations of $7.07 billion.
• Renewables Segment: NextEra Energy Resources faced a 45.5% decline, with a one-time $845 million loss due to subsidiary investments and operational expenses.
• 2025 Profit Guidance: The company maintained its 2025 earnings forecast of $3.45 to $3.70 per share.
• Renewable Energy Expansion: NextEra plans to add 5.4 gigawatts of solar capacity and 3.4 gigawatts of battery storage by 2029.

Despite the quarterly earnings miss, NextEra Energy’s commitment to green energy expansion remains a cornerstone of its future strategy, making it one of the largest and most influential players in the U.S. clean energy market.

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