NextEra Energy Drops 6% on 2027 Guidance
By Emon Reiser
Shares of NextEra Energy were on the decline after the energy company guided for 2027 adjusted earnings per share that was lower than analysts' estimates.
The stock fell 6.8% to $71.77 on Tuesday, putting it on track for its lowest close in about a month. Despite the intraday decline, shares remain up 18% year to date.
NextEra reaffirmed its adjusted EPS outlook through 2026 and guided for 2027 adjusted EPS between $3.85 and $4.32 a share. Wall Street analysts polled by FactSet expected $4.35 a share.
NextEra's stock has been trending downward six of the seven past trading days. The company on Friday announced a five-year joint development agreement to accelerate solar generation and energy storage projects with Entergy. Shares for electric power company Entergy are down nearly 3% in recent days.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
June 11, 2024 13:16 ET (17:16 GMT)
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