$NextEra Energy (NEE.US)$The leading wind power supplier released its Q2 financial report, showing a profit of $1.62 billion, or $0.79 per share, down from $2.8 billion, or $1.38 per share, in the same period last year. Nonetheless, the adjusted EPS reached $0.96, exceeding analyst expectations. However, the company's Q2 revenue decreased from $7.35 billion in the same period last year to $6.07 billion, falling short of analyst forecasts of $7.27 billion.
The main electrical utilities and wind power business of Nextera Energy saw a decline in revenue, leading to an overall profit decline. Among them, the revenue of NextEra Energy Resources, the renewable energy segment, fell from $2.56 billion in the same period last year to $1.65 billion. In addition, as the company's largest subsidiary, the revenue of Florida Power & Light, the largest electric company in the United States, also fell from $4.77 billion a year ago to $4.39 billion. Nevertheless, the company's operating expenses fell about 3% from the same period last year.
Despite the challenges, driven by demand from data centers, Nextera Energy successfully added 3,000 megawatts of new wind power and energy storage projects in the second quarter, a capacity equivalent to the generating capacity of three nuclear reactors.
During the earnings conference call, Chief Financial Officer Brian Bolster announced that the company had signed an 860 megawatt agreement with Google data centers, further expanding its renewable energy and energy storage generation to 22.6 gigawatts, including the 1,600 megawatt project added since April.
CEO John Ketchum emphasized during the conference call: "This is our second best quarter in history. These achievements further strengthen our belief that by combining new wind power and battery storage, we will effectively meet most of the growing energy demand."
In the United States, the demand for zero-carbon energy is continuously increasing, and the Biden government's "Inflation Reduction Act" provides tax credits for Nextera Energy, further promoting the development of clean energy. At the same time, the rise of artificial intelligence technology has driven the largest increase in electricity demand in nearly a generation.
Nextera Energy's total portfolio of renewable energy provided to technology and data center customers has reached 7 gigawatts. Rebecca Kujawa, head of the renewable energy development department, said that about 3 gigawatts have been put into use, and the remaining projects are expected to be completed in the next few years.