NextEra Energy, Inc., (NEE), a producer and distributor of electrical energy, Tuesday reported a decline in the net income for the first quarter, reflecting special charges. On a adjusted basis, the company reported increase in earnings, and exceeded estimates. The firm denoted no change in the full year earnings guidance.
The firm reported net income of $272 million, or $0.64 per share compared with $461 million, or $1.11 per share during the same period prior year.
Excluding special charges and gains, the company recorded adjusted earnings of 475 million or $1.12 per share.
On average, sixteen analysts polled by Thomson Reuters expected earnings per share of $1.02 for the quarter. Analysts' estimates typically exclude one-time items.
Operating revenues generated by the company for the quarter was $3279 million compared with $3371 million reported last year. The Street expected the company to record revenues of $3.57 billion for the quarter.
The firm continues to expect that it will deliver adjusted earnings per share in the range of $4.70 to $5.00 for the full year. Analysts expect the firm to report earnings of $4.57 per share for the year.
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