NextEra Energy reported first-quarter 2026 GAAP net income of $2.182 billion, or $1.04 per share, compared to $833 million, or $0.40 per share, in the same period last year. On an adjusted basis, the company earned $2.275 billion, representing $1.09 per share.
Chairman and CEO John Ketchum noted that the results reflect strong financial and operational performance as electricity demand in the United States continues to rise.
The company’s competitive energy subsidiary, NextEra Energy Resources, set a new company record for renewables and storage origination by adding 4 GW to its backlog. The total includes 1.3 GW of battery storage origination, bringing the segment’s total backlog to approximately 33 GW. The Energy Resources subsidiary reported adjusted earnings of $1.038 billion for the quarter, a significant climb from the $908 million reported in the first quarter of 2025.
Florida Power & Light, the nation’s largest electric utility, contributed $1.462 billion to net income, up from $1.316 billion in the prior-year comparable quarter. The utility placed roughly 600 MW of new solar into service during the first quarter, expanding its owned and operated solar portfolio to more than 8.5 GW. FPL’s recently filed 10-year Site Plan outlines a strategy to meet growing load by adding over 12 GW of solar and over 7 GW of battery storage through 2035.
Looking ahead, NextEra Energy remains on track to meet its long-term financial expectations, targeting the high end of its $3.92 to $4.02 adjusted earnings per share range for 2026.
The company expects to grow adjusted earnings per share at a compound annual growth rate of 8% or more through 2032 and is targeting the same growth rate from 2032 through 2035. Dividends are also expected to grow by roughly 10% per year through 2026.
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