NextEra Energy beats quarterly profit estimates (updated)

NextEra Energy

25/04/2023 12:41

(Adds details on results, background)
       April 25 (Reuters) - NextEra Energy Inc  NEE.N  reported
a first-quarter profit on Tuesday that beat analysts' estimates,
helped by strong performance of its renewable energy unit.
    Following climate change concerns and the global energy
crisis caused by the Russia-Ukraine conflict, countries have
made a push for renewable sources of power such as solar and
wind to reduce their reliance on fossil fuels.
    NextEra, which generates more wind and solar energy than any
other firm in the world, is benefiting from this push to
alternative sources of energy.
    The company's clean energy unit, NextEra Energy Resources,
added nearly 2,020 megawatts of new renewables and storage
projects to its backlog in the first quarter.
    On an adjusted basis, NextEra earned 84 cents per share in
the quarter, compared with estimates of 72 cents, according to
Refinitiv data.
    The company's revenue rose to $6.72 billion from $2.89
billion.

 (Reporting by Mrinalika Roy in Bengaluru; Editing by Shounak
Dasgupta)
 ((mrinalika.roy@thomsonreuters.com))