JUNO BEACH, Fla.

NextEra Energy, Inc. (NYSE:NEE) reported third-quarter 2024 adjusted earnings that surpassed analyst expectations, but revenue fell short, disappointing investors and causing shares to drop by 1.45% in early trading.

The clean energy giant posted adjusted earnings per share of $1.03, exceeding the analyst consensus of $0.98. However, revenue reached $7.57 billion, which was below the estimated $8.08 billion.

NextEra Energy reaffirmed its full-year 2024 adjusted EPS guidance range of $3.23 to $3.43, falling short of the analyst consensus of $3.41 at the midpoint. For 2025, the expected adjusted EPS is between $3.45 to $3.70, also below the $3.68 consensus estimate.

"NextEra Energy delivered strong third-quarter results, increasing adjusted earnings per share by approximately 10% YoY, reflecting continued solid financial and operational performance at both our businesses," said John Ketchum, chairman, president, and CEO.

The company's Florida Power & Light (FPL) subsidiary reported net income of $1.29 billion or $0.63 per share, up from $1.18 billion or $0.58 per share in the same quarter last year. FPL's growth was primarily driven by continued investment in the business, with regulatory capital employed increasing by approximately 9.5% YoY.

NextEra Energy Resources, the company's clean energy segment, added approximately 3 gigawatts of new renewables and storage projects to its backlog during the quarter. This segment reported adjusted earnings of $979 million or $0.47 per share, compared to $882 million or $0.43 per share in Q3 2023.

Despite the mixed results and cautious guidance, NextEra Energy maintains its long-term financial expectations and plans to grow dividends at a roughly 10% annual rate through at least 2026.

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