Plus   Neg

NextEra Energy Lifts Outlook, Announces 4:1 Stock Split

NextEra Energy, Inc. (NEE) Monday raised its financial outlook based on the ongoing strength of the renewables development environment and the continued execution across all of its businesses.

For 2021, NextEra Energy increased its financial expectations by $0.20 and now expects adjusted earnings of $9.60 to $10.15 per share. For 2022 and 2023, NextEra Energy expects to grow 6% to 8%, off the expected increased 2021 adjusted earnings per share.

"The increase and extension of our financial expectations is a reflection of NextEra Energy's continued strong performance across all of its businesses and our belief that we remain as well-positioned as ever with excellent prospects for growth," said Jim Robo, NextEra Energy chairman and chief executive officer.

In addition, the NextEra Energy has approved a four-for-one split, which is intended to make stock ownership more accessible to a broader base of investors. Each shareholder of record on October 19, will receive three additional shares of common stock, to be distributed on October 26. Trading will begin on a stock split-adjusted basis on October 27.

As a result of the four-for-one stock split, NextEra Energy is updating its adjusted earnings outlook. In 2020, the company now expects adjusted earnings of $2.18 to $2.30 per share. For 2021, the company expects adjusted earnings of $2.40 to $2.54 per share. For 2022 and 2023, NextEra Energy expects to grow 6% to 8%, which translates to $2.55 to $2.75 per share and $2.77 to $2.97 per share, respectively.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The European Commission said Friday that it has signed a deal with Sanofi and GlaxoSmithKline to secure up to 300 million doses of their potential COVID-19 vaccine. Acella Pharmaceuticals recalled certain lots of hypothyroidism medication NP Thyroid in the form of tablets due to super potency, the U.S. Food and Drug Administration said in a statement. The company is recalling one lot of 15mg and one lot of 120mg of NP Thyroid that are packaged in 100 count bottles in strengths of 15 mg, and 120 mg, with expiration dates between October 2020 and November 2020. Walmart announced its decision to raise wages for around 165,000 hourly associates across all its U.S. stores starting October, and introduce a team-based operating model in Supercenters. In a tweet, the retail giant said, "Today we're introducing new leadership roles and cross-training opportunities, giving our associates more ways to grow their careers."
Follow RTT