NextEra topped Wall Street’s estimates for Q2 earnings thanks to significant renewables growth in this high-demand, hyperscaler-focused reality. So why did shares of the largest electric utility holding company by market cap fall yesterday? (Reuters)
Concerns about the future of renewable energy tax credits—which analysts say could seriously hamstring NextEra’s long-term profit growth.
Two other interesting stats: Florida Power & Light, NextEra’s regulated utility, reported net income of $1.3B, up 4% from a year earlier. And its renewables business, NextEra Energy Resources, reported net income of $983M, up 78% year-over-year.