Voya Financial (VOYA) Q3 Earnings and Revenues Top Estimates

NextEra Energy Inc. stock (NYSE: NEE), a provider of electricity-related energy services, has declined by 11% over the last ten trading days (two weeks) and currently stands at around $74. Its principal subsidiary, FPL, is a rate-regulated utility engaged primarily in the generation, distribution, transmission, and sale of electric energy. Investors were underwhelmed by NextEra’s results and outlook for 2023. While Q4 operating revenue grew to $6.16 billion (up from $5.05 billion in the year-ago period), it missed analysts’ expectations for $6.3 billion in revenue. However, adjusted earnings grew by 24% year-over-year (y-o-y) to $0.51 per share and were above analyst expectations of $0.49 per share. Looking ahead, the company mentioned that it will continue growing at a healthy rate for a utility, albeit at a slower pace than last year. It anticipates adjusted earnings to rise in the range of $2.98 to $3.13 per share this year, which is below the analysts’ consensus of $3.11 per share. Meanwhile, the company extended its growth outlook for another year, projecting 6% to 8% annual growth through 2026.

NextEra Energy believes it can complete 32.7 to 41.8 gigawatts (GW) of new renewable energy and storage capacity through 2026. Consequently, it is extending its current growth forecast for another year, stretching it into 2026. It should be noted that the company continued to secure new investments as it added 8 GW of renewable energy and storage projects to its backlog in 2022, including 1.7 GW since its last quarterly call. That was its best-ever year for securing new projects. Considering its current backlog of 19 GW, it has a clearer picture of its growth prospects in the future.

Now, is NEE stock poised to decline in the short term, or are gains looking more likely? Based on our machine learning analysis of trends in the stock price over the last ten years, there is a 88% chance of a rise in NEE stock over the next month (twenty-one trading days). See our analysis of NEE’s Stock Chance Of Rise for more details.

Calculation of ‘Event Probability’ and ‘Chance of rising’ using the last ten years data

[1] Returns of -3.1% or lower over a five-day period on 233 occasions out of 2517 (9%); Stock rose in the next five days in 122 of these 233 instances (52%)

[2] Returns of -11% or lower over a ten-day period on 35 occasions out of 2516 (1%); Stock rose in the next ten days in 23 of these 35 instances (66%)

[3] Returns of -11% or lower over a twenty-one-day period on 81 occasions out of 2517 (3%); Stock rose in the next twenty-one days in 71 of these 81 instances (88%)

It is helpful to see how its peers stack up. NEE Peers shows how NextEra Energy stock compares against peers on metrics that matter. You will find other useful comparisons for companies across industries at Peer Comparisons.

What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.

 Returns Feb 2023
MTD [1]
YTD [1]
Total [2]
 NEE Return -1% -11% 149%
 S&P 500 Return 1% 7% 84%
 Trefis Multi-Strategy Portfolio 2% 14% 260%

[1] Month-to-date and year-to-date as of 2/2/2023
[2] Cumulative total returns since the end of 2016

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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By Trefis