NextEra Energy, Inc. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Key Financial Highlights

  • NextEra Energy (NEE) achieved full-year 2021 adjusted EPS of $2.55, up more than 10% from 2020.
  • NEE delivered a 23% total shareholder return in 2021, outperforming the S&P 500 Utilities Index.
  • Capital investment hit a record ~$16 billion in 2021.
  • NextEra Energy Partners (NEP) delivered a ~30% total unitholder return for 2021 and 72% over two years.
  • NEP LP distributions per unit increased 15% YoY and have grown nearly 280% since IPO.

Segment Performance

Florida Power & Light (FPL)

  • FY 2021 net income: $2.94 billion ($1.49/share), up $0.14/share vs. 2020.
  • Regulatory capital employed grew ~11% in 2021.
  • FPL customer growth strong: +82,000 customers YoY in Q4 2021.
  • 2021 retail sales increased 1.7% YoY on a weather-normalized basis.
  • Achievement highlights:
    • 671 MW of cost-effective solar added.
    • Commissioned 409 MW Manatee Energy Storage Center, world’s largest solar-powered battery system.
    • Best-ever reliability and #1 J.D. Power rankings in residential and business satisfaction.
  • New settlement agreement supports ~4,800 MW solar build through 2025 and accelerates “30-by-30” solar goal to 2025 (5 years earlier).

Gulf Power (now integrated into FPL)

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Operator: Good morning, and welcome to the NextEra Energy and NextEra Energy Partners' Fourth Quarter and Full Year 2021 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Jessica Aldridge, Director of Investor Relations. Please go ahead. Jessica Aldridge: Thank you, Andrew. Good morning everyone and thank you for joining our fourth quarter and full year 2021 combined earnings conference call for NextEra Energy and NextEra Energy Partners. With me this morning are Jim Robo, Chairman and Chief Executive Officer of NextEra Energy; Rebecca Kujawa, Executive Vice President and Chief Financial Officer of NextEra Energy; John Ketchum, President and Chief Executive Officer of NextEra Energy Resources; and Mark Hickson, Executive Vice President of NextEra Energy, all of whom are also officers of NextEra Energy Partners; as well as Eric Silagy, President and Chief Executive Officer of Florida Power & Light Company. Jim will provide some opening remarks, and we'll then turn the call over to Rebecca for a review of our fourth quarter and full year results. Our executive team will then be available to answer your questions. We will be making forward-looking statements during this call based on current expectations and assumptions, which are subject to risks

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