NextEra Energy reports third-quarter adjusted earnings of $1.24 per share, up from $1.13

NextEra Energy, Inc. (NEE) reported third-quarter 2026 adjusted earnings of $2.592 billion, or $1.24 per share, up 9.7% from a year earlier, the company said Wednesday in a news release attached to a regulatory filing.

Net income attributable to NextEra Energy on a GAAP basis was $4.775 billion, or $2.28 per share.

Here's how the company did:

• Adjusted earnings per share: $1.24, vs. $1.13 a year earlier
• GAAP earnings per share: $2.28, vs. $1.18 a year earlier
• Adjusted earnings: $2.592 billion, vs. $2.348 billion a year earlier
• GAAP net income attributable to NextEra Energy: $4.775 billion, vs. $2.438 billion a year earlier
• Operating revenues: $8.090 billion, vs. $7.966 billion a year earlier

Adjusted earnings exclude non-qualifying hedges, unrealized gains and losses on equity securities held in nuclear decommissioning funds, other than temporary impairments, investment gains at XPLR Infrastructure, LP, and merger-related expenses, the company said.

In the quarter, the company recorded $3.005 billion of pretax net gains on non-qualifying hedges. Those gains were removed from adjusted earnings.

John Ketchum, chairman, president and chief executive officer, said adjusted earnings per share rose 9.7% on continued performance at both FPL and NextEra Energy Resources. He added a forward view: "We believe NextEra Energy remains one of the best-positioned companies in the sector, with the scale, balance sheet, supply chain, technology, customer relationships, and development and operating expertise to build what our customers need, when and where they need it."

Outlook

The company kept its 2026 adjusted earnings guidance unchanged. It continues to expect adjusted earnings per share of $3.92 to $4.02 for the year and is targeting the high end of that range.

The company also expects adjusted earnings per share to grow at a compound annual rate of 8% or more through 2032, and targets the same rate from 2032 through 2035, both off a 2025 base of $3.71 per share.

FPL results

FPL reported third-quarter net income of $1.62 billion, or $0.77 per share, compared with $1.463 billion, or $0.71 per share, a year earlier.

FPL's capital expenditures were approximately $2.4 billion in the quarter, and full-year capital investments are expected to be approximately $12 billion. Regulatory capital employed rose approximately 9.2% from the prior-year quarter.

Following Hurricane Isaias, FPL restored power to more than 97% of affected customers by Tuesday, the company said. Ahead of the storm, it assembled a restoration workforce of approximately 17,000 men and women from 29 states.

The company said not a single hardened transmission or distribution pole failed during Isaias, and smart-grid technology avoided approximately 140,000 outages.

NextEra Energy Resources results

NextEra Energy Resources reported GAAP net income attributable to NextEra Energy of $1.491 billion, or $0.71 per share, compared with $1.275 billion, or $0.62 per share, in the prior-year quarter.

Adjusted earnings for the unit were $1.247 billion, or $0.59 per share, against $1.102 billion, or $0.53 per share, a year earlier.

The unit added 3.7 gigawatts of renewables and storage to its backlog in the quarter, including 2.4 GW of battery storage. After 1.8 GW of new projects were placed into service since the July results call, the backlog stands at approximately 36.7 GW.

Regulated and invested capital, along with secured capital expenditures across electric and gas transmission, rose roughly 25% to approximately $12.7 billion since December 2025.

The unit formed a joint venture with Chesapeake Utilities Corporation to build a $1.2 billion, 97-mile intrastate natural gas pipeline in South Florida.

The company has signed definitive agreements for three federal hub projects, two in Texas and one in Pennsylvania, totaling approximately 16.5 GW. It has secured $5.7 billion in initial funding year to date. For the federal hubs, it expects to develop, build and operate the projects for fees without investing capital.

The company closed a loan with the U.S. Department of Energy of up to $1.9 billion to support the restart of the Duane Arnold nuclear plant in Iowa. The plant remains on track to re-enter service no later than the first quarter of 2029.

The unit executed a 20-year power purchase agreement for approximately 1 GW of its Point Beach nuclear asset in Wisconsin at a competitive price. The agreement remains subject to approval by the Public Service Commission of Wisconsin, and the full output of the plant is now contracted into the 2050s.

Corporate and Other results increased $0.95 per share on a GAAP basis from the prior-year quarter, and decreased $0.01 per share on an adjusted basis.

Dominion Energy combination

Shareholders of NextEra Energy and Dominion Energy approved their pending combination on Sept. 3, the company said.

Procedural schedules have been set in Virginia and South Carolina, with hearings in November and December, respectively. The companies expect final orders in January 2027. The North Carolina Utilities Commission has set expert witness hearings beginning in February 2027.

The companies continue to expect the combination to close in the second half of 2027.