Key Highlights
- Adjusted earnings per share reached $1.09, surpassing Wall Street’s $0.96 forecast by 13 cents
- Net income under GAAP standards surged to $2.182 billion from $833 million in the prior-year quarter
- NextEra Energy Resources achieved a milestone quarter by securing 4 GW in renewable energy and storage capacity
- Project backlog in renewables reached an all-time high of roughly 33 GW, featuring 1.3 GW in battery storage additions
- Full-year 2026 adjusted EPS outlook of $3.92–$4.02 remains intact, with management targeting 8%+ annual EPS growth through 2032
NextEra Energy (NEE) unveiled its first-quarter 2026 financial performance on Thursday, exceeding analyst projections thanks to robust contributions from its renewable energy segment and increasing electricity consumption.
The company’s adjusted earnings per share totaled $1.09, significantly topping the $0.96 consensus estimate compiled by LSEG. This figure marks a 10% year-over-year improvement compared to the $0.99 per share recorded in the corresponding 2025 quarter.
Under generally accepted accounting principles, net income for the three months concluded March 31 reached $2.182 billion, equivalent to $1.04 per share. This represents a substantial leap from the $833 million, or $0.40 per share, reported during the first quarter of 2025.
On an adjusted basis, total earnings climbed to $2.275 billion from $2.038 billion in the year-earlier period.
Florida Power & Light contributed earnings of $1.462 billion, translating to $0.70 per share, versus $1.316 billion, or $0.64 per share, in the comparable quarter last year.
FPL deployed approximately $3.2 billion in capital expenditures throughout the quarter. The utility’s regulatory capital employed expanded roughly 8.8% compared to the same period last year.
The Florida-based utility welcomed nearly 100,000 additional customers during the three-month period. Its solar generation portfolio now exceeds 8.5 GW of installed capacity statewide.
Renewables Division Achieves Historic Milestone
NextEra Energy Resources emerged as the quarter’s top performer. The division generated GAAP net income of $1.019 billion, or $0.49 per share, a dramatic increase from merely $172 million, or $0.08 per share, in the first quarter of 2025.
On an adjusted basis, the renewables unit earned $1.038 billion, climbing from $908 million in the prior-year quarter.
The segment delivered its strongest quarterly performance ever for renewable energy and storage project signings, securing 4 GW in new capacity. Within this total, battery storage accounted for 1.3 GW.
The overall development pipeline now encompasses approximately 33 GW — a figure that underscores sustained market appetite for new renewable energy infrastructure.
Full-Year Outlook Unchanged
Executives maintained their existing 2026 adjusted EPS forecast range of $3.92–$4.02 without modification.
The organization also reconfirmed its extended-term objective of achieving compound annual growth of at least 8% in adjusted earnings per share extending through 2032.
Regarding dividends, NEE upheld its strategy for approximately 10% annual dividend per share expansion through 2026. Beginning at year-end 2026 and continuing through 2028, the growth target moderates to 6% per year.
Executive leadership addressed the quarterly results during a live webcast held at 9 a.m. Eastern Time on Thursday. An archived recording will remain accessible for 90 days via the company’s investor relations website.
As of Thursday afternoon trading, NEE stock declined 0.66% for the session.
