NextEra crushes revenue estimates as clean energy demand surges

Oct 28 (Reuters) – Top U.S. renewable power producer NextEra Energy Inc (NEE.N) whizzed past estimates for quarterly revenue on Friday on strong demand amid surging power prices, while predicting a boost from the recent anti-inflation act.The push to promote alternative sources of energy has gained fresh urgency this year as Russia’s invasion of Ukraine ignited a rally in natural gas and crude oil prices, boosting demand for companies such as NextEra that produce energy from wind and sun.NextEra’s third-quarter revenue of $6.72 billion was nearly a billion more than expectations, while profit of 85 cents per share topped estimates of 80 cents.The company’s shares rose about 3% to $77.6 in afternoon trading.NextEra now was positioned to take advantage of the U.S. Inflation Reduction Act (IRA) that includes measures to shift consumers to green energy and reduce carbon emissions.”IRA…

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