When compared to the same time period in 2022, net income for the first three months of this year went up by a lot. Adjusted income, on the other hand, changed less.
In Q1, NextEra Energy Resources had a net income attributable to its parent company of $1,440 million and an adjusted income of $732 million. The company had a net loss of $1,499 million in the first quarter of 2022 and an adjusted profit of $628 million.
NextEra Energy Resources’ adjusted profits for the first quarter were equal to a share price of US$0.36.
The parent company, NextEra Energy Inc., made a total of $2,086 million in net income in Q1. Almost two thirds of that amount came from the clean energy business. The whole company made $1,678 million after everything was taken into account.
This is a little bit better than the last quarter, when the attributable profit was $1.52 billion.
Originated renewables assets went from 1.7GW in the fourth quarter of 2022 to almost 2GW in the first quarter of 2023. In the last three months, the company bought about 1.3GW of solar assets, 450MW of storage assets, and 200MW of wind assets. This brought its project list to over 20.4GW.
Its utility company, Florida Power & Light, also grew from one year to the next. Its net income went from $875 million in the first quarter of 2022 to $1,070 million in the first quarter of 2023.
In the future, a memorandum of understanding was recently signed with CF Industries to build a 450MW sustainable energy grid to support a big green hydrogen project in Oklahoma. Also, the California ISO gave NextEra Energy Transmission permission to spend $400 million on transmission upgrades. This led the company to say that it plans to be able to use around 11GW of green energy capacity in its operations in California.
It said that its predictions for profits through 2026 are the same as they were at the end of 2022.
