The following is a summary of the NextEra Energy, Inc. (NEE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• NextEra Energy reported strong Q1 results with adjusted earnings per share growing by 8.3% year over year.

• FPL's earnings per share increased by $0.04 compared to the same period last year, driven by about 11.5% year-over-year growth in regulatory capital employed.

• Energy Resources reported a 13.1% year-over-year increase in adjusted earnings driven primarily by growth in the renewables portfolio.

• FPL's capital expenditure for the quarter was approximately $2.3 billion, with full-year investments ranging between $7.8 billion and $8.8 billion.

Business Progress:

• Both sections of the company, FPL and Energy Resources, started the year off strong with FPL servicing 1640 MW of new solar and Energy Resources adding 2765 MW of new renewables and storage projects to its backlog.

• The company anticipates the U.S. renewable and storage market to triple over the next seven years.

• Leveraging technology, the company captures 560 billion operational data points daily for real-time decision making.

• NextEra Energy Transmission was selected by the California ISO to develop a new two-mile, 500 kV transmission line in Southern California.

• With expected growth in the solar panel module capacity in the U.S., it's planning for U.S. production to cover backlog comfortably by 2027.

• The company predicts a 15% CAGR growth through the end of the decade in the data center domain.

• NextEra plans to meet growing electricity demands from various sectors, including manufacturing, chip manufacturing, and the oil and gas industry.

• The company has doubled the amount of storage up to 4 gigawatts in its plan, seeing it as an attractive addition, especially as they continue to add solar.

More details: NextEra Energy IR

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