Earnings Conference Call
First Quarter 2019
April 23, 2019
Cautionary Statements And Risk Factors That May Affect Future Results
This presentation includes forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward-looking statements. The factors that could cause actual results to differ are discussed in the Appendix herein and in NextEra Energy's and NextEra Energy Partners' SEC filings.
Non-GAAP Financial Information
This presentation refers to certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles. Reconciliations of historical non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the Appendix herein.
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NextEra Energy delivered strong first quarter results
First Quarter 2019 Highlights
•NEE grew adjusted EPS by ~12% year-over-year
•FPL:
-Regulatory capital employed growth of ~8% versus prior-year comparable quarter
-~1,750 MW Okeechobee Clean Energy Center completed on budget and ahead of schedule
-Commissioned ~300 MW of solar under 2019 SoBRA
•Gulf Power:
-Integration continues to progress well
-Base retail O&M costs already down nearly 5% year-over-year
•Energy Resources:
-Nearly 1,000 MW of renewables added to backlog
Includes first co-located combined wind, solar and storage project
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FPL's earnings per share increased 20 cents from the prior- year comparable quarter
Florida Power & Light Results - First Quarter
Net Income | EPS | |||
($ MM) | ||||
$588 | $1.22 | |||
$484 | $1.02 | |||
2018 | 2019 | 2018 | 2019 |
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Continued investment in the business was the primary driver of growth at FPL
Florida Power & Light EPS Contribution Drivers
EPS Growth
First |
Regulatory Capital Employed(1)
(Excluding Accumulated Deferred Income Taxes)
Quarter | |
FPL - 2018 EPS | $1.02 |
Drivers: | |
New investments | $0.10 |
Deferred tax impact | $0.02 |
Regulated gas | $0.01 |
Other, incl. share dilution | $0.07 |
FPL - 2019 EPS | $1.22 |
$B 40.0
35.0$32.7
30.0
25.0
20.0
15.0
10.0
5.0
0.0
$35.4
Q1 2018(2) | Q1 2019 | ||
Retail Rate Base | Other | ||
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1) 4 month average; includes retail rate base, wholesale rate base, clause-related investments and AFUDC projects; Q1 2018 and Q1 2019 reflect adjustments related to removal of accumulated deferred income taxes of $8.1 B and $8.3 B, respectively
2) Prior period amounts restated to account for the inclusion of capital deployed in the capacity clause
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NextEra Energy Inc. published this content on 23 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 April 2019 11:38:15 UTC