Q1 2025 Nextera Energy Inc Earnings Call Transcript
Key Points
- NextEra Energy Inc (NEE) reported a nearly 9% year-over-year increase in adjusted earnings per share, indicating strong financial and operational performance.
- Florida Power & Light (FPL) placed into service 894 megawatts of new solar, contributing to a total of over 7.9 gigawatts of solar capacity, the largest utility solar portfolio in the U.S.
- Energy Resources originated approximately 3.2 gigawatts of new renewables and storage projects, marking strong demand for these technologies.
- NextEra Energy Inc (NEE) has diversified its supply chain, reducing tariff exposure to less than $150 million on over $75 billion in expected capital spend.
- The company has nearly $37 billion of interest rate hedges in place, allowing flexible management of interest rate exposure over the coming years.
- The cost to build gas-fired plants has tripled in recent years, posing challenges for meeting future energy demand.
- There are significant challenges in reestablishing a skilled workforce for building complex power plants, leading to increased costs and construction delays.
- Gas turbines are in short supply and high demand, contributing to higher costs for gas-fired generation.
- Nuclear technology, such as SMR, is still 10 years away from being ready at scale and comes at a higher price point than gas-fired generation.
- There is a potential risk of project slippage beyond the current plan into 2028 and beyond due to the uncertain macro environment and complex contract discussions.
Good morning, and welcome to the NextEra Energy, Inc. first quarter 2025 earnings conference call. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Mark Eidelman, Director of Investor Relations. Please go ahead.
Thank you, Dorovan. Good morning, everyone, and thank you for joining our first quarter 2025 financial results conference call for NextEra Energy.
With me this morning are John Ketchum, Chairman, President and Chief Executive Officer of NextEra Energy; Brian Bolster, Executive Vice President and Chief Financial Officer of NextEra Energy; Armando Pimentel, President and Chief Executive Officer of Florida Power & Light Company; Rebecca Kujawa, President and Chief Executive Officer of NextEra Energy Resources; Mark Hickson, Executive Vice President of NextEra Energy; and Mike Dunne, Treasurer of NextEra Energy.
John will start with opening remarks and then Mike will provide an overview of our first
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