NextEra Energy misses by $0.06, misses on revs; guides FY18 EPS above consensus; extends 6-8% EPS CAGR through 2021 (153.09)
- Reports Q4 (Dec) earnings of $1.25 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $1.31; revenues rose 8.4% year/year to $4.01 bln vs the $4.18 bln Capital IQ Consensus.
- Co issues upside guidance for FY18, sees EPS of $7.45-7.95, excluding non-recurring items, vs. $7.32 Capital IQ Consensus Estimate. With the certainty provided by the new tax reform legislation and the anticipated continued strength of the investment opportunities at both FPL and NextEra Energy Resources, NextEra Energy is also extending its longer-term growth outlook to 2021. The company expects a compound annual growth rate in adjusted earnings per share to be in a range of 6 to 8 percent through 2021, off a revised base at the midpoint of the new 2018 range, or $7.70 per share.
- In 2019, the company now expects adjusted earnings per share to be in the range of $8.00 to $8.50.
- For 2020 and 2021, the company now expects adjusted earnings per share to be in the range of $8.55 to $9.05 and $9.20 to $9.75, respectively.