NextEra Energy, Inc. (NYSE:NEE) Q2 2020 Earnings Conference Call - Final Transcript

Jul 24, 2020 • 09:00 am ET


NextEra Energy, Inc. (NYSE:NEE) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning everyone, and welcome to the NextEra Energy, Inc. and NextEra Energy Partners Conference Call. [Operator Instructions] Please note, today's event is being recorded.

At this time, I'd like to turn the conference call over to Matt Roskot, Director of Investor Relations. Sir, please go ahead.

Matt Roskot

Thank you, Jamie. Good morning everyone and thank you for joining our second quarter 2020 combined earnings conference call for NextEra Energy and NextEra Energy Partners. With me this morning are Jim Robo, Chairman and Chief Executive Officer of NextEra Energy; Rebecca Kujawa, Executive Vice President and Chief Financial Officer of NextEra Energy; John Ketchum, President and Chief Executive Officer of NextEra Energy Resources; and Mark Hickson, Executive Vice President of NextEra Energy, all of whom are also officers of NextEra Energy Partners, as well as Eric Silagy, President and Chief Executive Officer of Florida Power & Light Company. Rebecca will provide an overview of our results and our executive team will then be available to answer your questions.

We will be making forward-looking statements during this call based on current expectations and assumptions, which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect or because of other factors discussed in today's earnings news release, in the comments made during this conference call, in the Risk Factors section of the accompanying presentation, or in our latest reports and filings with the Securities and Exchange Commission, each of which can be done on our websites, and We do not undertake any duty to update any forward-looking statements.

Today's presentation also includes references to non-GAAP financial measures. You should refer to the information contained in the slides accompanying today's presentation for definitional information and reconciliations of historical non-GAAP measures to the closest GAAP financial measure.

With that I will turn the call over to Rebecca.

Rebecca J. Kujawa

Thank you, Matt, and good morning everyone. NextEra Energy delivered strong second quarter results and continue to perform well, both financially and operationally, while managing the ongoing impacts of the COVID-19 pandemic. As part of our core goal of safely delivering affordable and reliable power to our customers, we continue to operate under our pandemic plan that we activated last quarter. Despite the challenges created by the pandemic, NextEra Energy's second quarter adjusted earnings per share increased by more than 11% versus the prior-year comparable quarter. And we are well positioned to meet our overall objectives for the year.

FPL increased earnings per share by $0.15 year-over-year, and its strong execution continues across the Board. During the quarter, FPL set a new system peak load of more than 24,500 megawatts. FPL's transmission and distribution systems continue to operate in line with our high reliability standards and are highly efficient generating facilities remain available to serve our customers. FPL's continued strong execution is a result of the smart capital investments that we have made over the past several decades to enhance our customer value proposition of