NextEra Energy Faces Revenue Dip in 2024 Amid Weaker Electricity Prices

NextEra Energy (NYSE: NEE), a leading U.S. company in the power and utilities space, is expected to see operating revenue decline by -1.8% year-over-year in 2024. This decline, driven by softer natural gas prices and a resulting moderation in electricity prices, is expected to bring revenues down to $27.6 billion from $28.1 billion in 2023, according to Visible Alpha consensus.

The company’s flagship subsidiary, Florida Power & Light (FPL), is forecast to deliver marginal revenue growth of a modest +1.4% year-over-year in 2024, reaching $18.6 billion. In contrast, NextEra Energy Resources (NEER), is anticipated to see a sharper contraction, with revenues declining -10% to $8.7 billion. Looking ahead, analysts remain optimistic about a rebound in 2025, with a projected revenue growth of +9.1%. This outlook is underpinned by expectations of higher electricity prices and continued customer expansion in FPL’s service areas.