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NextEra Energy (NYSE:NEE) -3.5% pre-market Wednesday after reporting higher Q4 adjusted earnings on a 22% rise in revenues from the year-earlier quarter that nevertheless missed analyst estimates, and adjusted EBITDA of $4.1B lagged $4.9B analyst consensus.
Florida Power & Light, NextEra's (NEE) largest business segment and the largest electric utility in the U.S., said Q4 revenues jumped 18% to $4.07B from $3.43B in the prior-year quarter, and sales in the NextEra Energy Resources clean energy unit jumped 28% to $2.09B from $1.63B a year earlier.
NextEra (NEE) also said Florida Power & Light Chairman, President and CEO Eric Silagy plans to retire after 20 years with the company, including the last 11 as CEO.
Former NextEra (NEE) executive Armando Pimentel will rejoin the company as its FPL's new President and CEO, and NextEra Chairman John Ketchum will become FPL's Chairman.
NextEra Energy Partners (NEP) declared a quarterly distribution of $0.8125/unit, up 15% on an annualized basis compared to the year-ago quarter.
The partnership now sees 12%-15% annual growth in limited partner distributions per unit as "a reasonable range of expectations through at least 2026," which is an additional year beyond prior expectations.
NextEra Energy (NEE) shares are little changed so far this year while rising 2.5% during the past year.