NextEra Energy, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017 and Revises Earnings Guidance for 2018
January 27, 2017 at 12:35 pm
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NextEra Energy, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net income attributable to the company of $966 million, or $2.06 per share, compared to $507 million, or $1.10 per share, in the fourth quarter of 2014. On an adjusted basis, the company's 2016 fourth-quarter earnings were $566 million, or $1.21 per share, compared to $539 million, or $1.17 per share, in fourth quarter 2015. Operating revenues were $3,699 million against $4,069 million a year ago. Operating income was $926 million against $876 million a year ago. Income before income taxes was $1,521 million against $757 million a year ago.
For the full year 2016, the company's adjusted earnings were $2.9 billion, or $6.19 per share, compared to $2.6 billion, or $5.71 per share, in 2015. Net income attributable to the company was $2,912 million, or $6.25 per share, compared to $2,752 million, or $6.06 per share a year ago. Operating revenues were $16,155 million against $17,486 million a year ago. Operating income was $4,608 million against $4,632 million a year ago. Income before income taxes was $4,338 million against $3,990 million a year ago. Net cash provided by operating activities was $6,336 million against $6,116 million a year ago. Capital expenditures of fpl were $3,776 million against $3,428 million a year ago.
The company expects adjusted earnings per share to be in the range of $6.35 to $6.85 for 2017 and is increasing its previously announced range for 2018 from $6.60 to $7.10 to $6.80 to $7.30. The company expects a compound annual growth rate in adjusted earnings per share to be in a range of 6% to 8% through 2020, off a 2016 base.
NextEra Energy, Inc. specializes in electricity production, transmission, and distribution. Net sales break down by activity as follows:
- generation, transmission, distribution and sale of electricity (65.3%): to residential, commercial and industrial customers. At the end of 2023, the Group has a generating capacity of approximately 32,276 MW, a network of 144,841 km of power lines and 883 substations;
- production, transmission and distribution of renewable energies (34.4%): with a production capacity of 37,700 MW, a network of 5 769.5 km of transmission lines and approximately 330 substations;
- other (0.3%).
NextEra Energy, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017 and Revises Earnings Guidance for 2018