- NextEra Energy delivers strong full-year 2024 financial and operational results
- FPL grows regulatory capital employed by approximately 10% year-over-year and continues to keep customer bills as low as possible while delivering reliable electricity
- NextEra Energy Resources achieves another record year of new renewables and storage origination, adding more than 12 gigawatts to its backlog
NextEra Energy, Inc. has reported 2024 fourth-quarter net income attributable to NextEra Energy on a GAAP basis of $1.203 billion, or $0.58 per share, compared to $1.210 billion, or $0.59 per share, for the fourth quarter of 2023. On an adjusted basis, NextEra Energy’s 2024 fourth-quarter earnings were $1.095 billion, or $0.53 per share, compared to $1.067 billion, or $0.52 per share, in the fourth quarter of 2023.
For the full year 2024, NextEra Energy reported net income attributable to NextEra Energy on a GAAP basis of $6.946 billion, or $3.37 per share, compared to $7.310 billion, or $3.60 per share, in 2023. On an adjusted basis, NextEra Energy’s full-year 2024 earnings were $7.063 billion, or $3.43 per share, compared to $6.441 billion, or $3.17 per share, in 2023, which represents year-over-year growth in adjusted earnings per share of approximately 8.2%.
According to John Ketchum, chairman, president and chief executive officer., NextEra Energy had a successful 2024, achieving over 8% growth in adjusted earnings per share and reaching the top of its expected range. Since 2021, the company has maintained over 10% annual growth, the highest among top U.S. power companies. In 2024, it added 8.7 GW of renewables and storage, reinforcing its leadership in energy infrastructure. With extensive industry experience, NextEra Energy is well-positioned to meet growing U.S. power demand and aims to sustain strong financial performance through 2027 while maintaining a solid balance sheet and credit ratings.
FPL
FPL reported fourth-quarter 2024 net income of $845 million ($0.41 per share) on both GAAP and adjusted bases, compared to $1.146 billion ($0.56 per share) and $846 million ($0.41 per share) in the prior-year quarter. Full-year 2024 net income was $4.543 billion ($2.21 per share), slightly down from $4.552 billion ($2.24 per share) in 2023 on a GAAP basis but up on an adjusted basis from $4.251 billion ($2.09 per share).
FPL’s 2024 growth was driven by $8.2 billion in capital investments, including 2.2 GW of new solar capacity and grid hardening efforts. The company continues to provide residential bills nearly 40% below the national average while maintaining top-tier reliability. Investments in solar and battery storage have saved customers $16 billion since 2001, with operational efficiencies delivering an additional $24 monthly savings per customer.
In December 2024, FPL filed with the Florida Public Service Commission for new base rates starting January 2026. The proposed four-year plan aims to diversify power generation and enhance reliability while keeping bills affordable, with an estimated annual increase of 2.5% through 2029. Despite this adjustment, FPL expects its rates to remain below the national and Florida averages.
NextEra Energy Resources
NextEra Energy Resources reported a Q4 2024 net loss of $442 million ($0.21 per share) on a GAAP basis, compared to a net income of $885 million ($0.43 per share) in Q4 2023. Adjusted Q4 earnings were $446 million ($0.22 per share), up from $361 million ($0.18 per share) in 2023.
For full-year 2024, GAAP net income was $2.299 billion ($1.12 per share), down from $3.558 billion ($1.75 per share) in 2023. Adjusted earnings rose to $3.118 billion ($1.51 per share) from $2.757 billion ($1.36 per share) in 2023.
The company achieved a record year in renewables origination for the third consecutive year, adding over 12 GW of new projects, bringing its total backlog to over 25 GW. It commissioned more than 6 GW of new projects in 2024 and continues efforts to recommission the Duane Arnold Energy Center in Iowa, targeting a restart by 2028.
Corporate and Other
Corporate and Other results increased by $0.78 per share on a GAAP basis in Q4 2024, but adjusted results declined by $0.03 per share compared to 2023. Full-year results saw a $0.43 per share increase on a GAAP basis and a $0.01 decline on an adjusted basis.
Outlook
NextEra Energy expects 2025 adjusted earnings per share (EPS) between $3.45 and $3.70, with 2026 and 2027 EPS targets set at $3.63–$4.00 and $3.85–$4.32, respectively. The company aims to grow dividends at approximately 10% annually through at least 2026.
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