NextEra Energy beats quarterly profit estimates on renewables boom (updated)

NextEra Energy

25/07/2023 12:39

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       July 25 (Reuters) - NextEra Energy Inc  NEE.N 
second-quarter profit beat Wall Street estimates on Tuesday,
helped by strength in the company's renewable energy unit.
    Countries have been embracing renewable power in the wake of
climate change concerns and global energy uncertainty due to the
Russia-Ukraine conflict, with NextEra, the world's largest
producer of wind and solar energy, being a major beneficiary.
    The company's regulated utilities business, Florida Power &
Light, added 66,000 more customers year-on-year, boosting its
top line while its clean energy unit, NextEra Energy Resources,
added 1,665 megawatts of new renewables and storage projects in
the second quarter.
    On an adjusted basis, the Juno Beach, Florida-based company
earned 88 cents per share in the quarter, compared with
analysts' average estimate of 82 cents, according to Refinitiv
data.

 (Reporting by Arshreet Singh; Editing by Savio D'Souza and
Vinay Dwivedi)
 ((Arshreet.Singh@thomsonreuters.com; Twitter: https://twitter.com/Arshreets))