Results
NextEra Energy delivers strong second-quarter results
FPL grows regulatory capital employed by approximately 9.3% year-over-year and continues to keep customer bills low while delivering highly reliable electricity
NextEra Energy Resources has a strong quarter for new renewables and storage origination, adding 3.6 gigawatts to its backlog
Corporate events
NextEra Energy and Dominion Energy advance proposed combination by filing applications seeking merger approvals
Results
JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2026 second-quarter net income attributable to NextEra Energy on a GAAP basis of $3.144 billion, or $1.50 per share, compared to $2.028 billion, or $0.98 per share, for the second quarter of 2025.
On an adjusted basis, NextEra Energy's 2026 second-quarter earnings were $2.407 billion, or $1.15 per share, compared to $2.164 billion, or $1.05 per share, in the second quarter of 2025.
Management commentary
8"NextEra Energy delivered a strong second quarter, with adjusted earnings per share increasing by 9.5% year-over-year, reflecting continued operational and financial execution across both FPL and NextEra Energy Resources," said John Ketchum, chairman, president and chief executive officer.
"As power demand continues to accelerate, NextEra Energy is uniquely positioned to meet the power demand needs of our customers because we have the scale, financial strength, supply chain, development expertise and technology to build all forms of energy.
NextEra Energy continues to be well positioned to deliver on its growth opportunities in its regulated and long-term contracted businesses in 2026 and beyond.
We continue to expect to grow adjusted earnings per share at a compound annual growth rate of 8%+ through 2032 and are targeting the same from 2032 through 2035, all off our 2025 base.Guidance reaffirmed
Corporate events
"Earlier this month, we took the next step in our proposed combination with Dominion Energy by filing applications for merger approval with state and federal agencies, formally beginning the regulatory review process.
This combination is about putting greater scale, financial strength and operational expertise behind Dominion Energy's local operating companies so they can meet growing power demand while keeping bills affordable and service reliable.
Together, we will be better positioned to support jobs and economic development in four fast-growing states by investing in the all-of-the-above energy infrastructure needed to power growth and strengthen American competitiveness.
5If approved and completed, Dominion Energy customers would receive $2.25 billion in shareholder-funded bill credits, providing meaningful near-term customer benefits.
Over the longer term, customers and communities would benefit from a stronger company with the scale and capabilities to buy, build, finance and operate critical energy infrastructure more efficiently, helping support reliability, affordability and economic growth.
2As discussed when the combination was announced on May 18, the combined company is expected to support approximately 11% annual growth in regulatory capital employed through 2032 and 9%+ adjusted earnings per share growth through 2032, with a 9%+ target through 2035, all off a 2025 base."Guidance reaffirmed
Results
FPL reported second-quarter 2026 net income of $1.412 billion, or $0.67 per share, compared to $1.275 billion, or $0.62 per share, for the prior-year comparable quarter.
FPL's growth in the second quarter of 2026 was driven primarily by continued disciplined capital investments.
FPL's capital expenditures were approximately $2.8 billion for the second quarter, and full-year capital investments are expected to be between $12 billion and $13 billion.
Regulatory capital employed increased by approximately 9.3%, compared to the prior-year comparable quarter.
Management commentary
FPL continues to demonstrate that it can consistently deliver customer affordability and reliability, while serving one of the fastest-growing states in the nation and the world's 14th largest economy.
7Today, FPL's typical residential bill remains approximately 30% below the national average and is only projected to increase 2% annually on average through the end of the decade.
FPL drives consistently low bills through exceptional operational efficiency.
4FPL’s non-fuel O&M is more than 70% better than the industry average on a dollar-per-megawatt-hour basis.
Customers also continue to benefit from top-decile reliability that’s more than 60% better than the national average.
During the second quarter, FPL added more than 90,000 customers, compared to the prior-year comparable period.
FPL continues to see very strong interest from hyperscalers and other large customers that value speed to market, reliability and competitive power pricing.
FPL has roughly 21 gigawatts (GW) of large-load interest.
Of that, FPL is in advanced discussions on 12 GW, a portion of which it believes it could begin serving as soon as 2028.
FPL is advancing negotiations with large-load customers and continues to expect to announce at least one large-load transaction under FPL's tariff by the end of the year.
Results
NextEra Energy Resources reported second-quarter 2026 net income attributable to NextEra Energy on a GAAP basis of $1.634 billion, or $0.78 per share, compared to $983 million, or $0.48 per share, in the prior-year quarter.
On an adjusted basis, NextEra Energy Resources' earnings for the second quarter of 2026 were $1.291 billion, or $0.62 per share, compared to $1.091 billion, or $0.53 per share, for the second quarter of 2025.
3NextEra Energy Resources had a strong quarter of new renewables and storage origination with 3.6 GW added to the backlog.
Battery storage represented 2 GW of additions this quarter.
With these additions, NextEra Energy Resources' backlog now totals approximately 35.1 GW after taking into account 1.1 GW of new projects placed into service since the first-quarter 2026 financial results call in April.
Corporate events
NextEra Energy Resources also remains on track to bring the Duane Arnold nuclear power plant back online no later than the first quarter of 2029.Guidance reaffirmed
6The Iowa Utilities Commission approved a generating certificate for the plant, and NextEra Energy Resources also successfully closed on the acquisition of the final 30% minority interest in the plant held by the two cooperative partners, making NextEra Energy Resources the plant's sole owner.
During the quarter, NextEra Energy Transmission energized a new 137-mile, 345-kilovolt (kV) transmission line in New Mexico to strengthen grid reliability in a growing part of the state.
The project was completed ahead of schedule and on budget and is projected to reduce typical residential electric bills in 2031 by approximately $13 per month, based on an independent study performed by the Southwest Power Pool, providing a clear and tangible example of how smart transmission investments can directly improve affordability for customers.
Also during the quarter, MISO selected NextEra Energy Transmission as part of a consortium to develop two large-scale 765-kV transmission projects in Illinois.
Results
Corporate and Other
In the second quarter of 2026 on a GAAP basis, Corporate and Other results increased $0.17 per share, compared to the prior-year quarter.
On an adjusted basis, Corporate and Other results for the second quarter of 2026 decreased $0.04 per share, compared to the prior-year quarter.
Corporate events
NextEra Energy and Dominion Energy proposed combination
NextEra Energy and Dominion Energy continue to advance their proposed combination.
On July 15, the companies filed for merger approval with the Virginia State Corporation Commission, North Carolina Utilities Commission and the Public Service Commission of South Carolina.
The Virginia filing initiated the state's statutory six-month review process.
The companies also filed for merger approval with the Federal Energy Regulatory Commission and the Nuclear Regulatory Commission.
In addition, the companies filed the registration statement on Form S-4 with the Securities and Exchange Commission on July 9, which became effective yesterday.
NextEra Energy expects to distribute proxy materials to shareholders in the near future and expects Dominion Energy to do the same.
The companies are anticipating both special shareholder meetings will be held in early September.
The transaction is expected to close in the second half of 2027, subject to customary closing conditions and approvals.
1As discussed when the combination was announced on May 18, the combined company is expected to support approximately 11% annual growth in regulatory capital employed through 2032 and 9%+ adjusted earnings per share growth through 2032, with a 9%+ target through 2035, all off a 2025 base.Guidance reaffirmed
Outlook
Outlook
NextEra Energy's long-term financial expectations remain unchanged.Guidance reaffirmed
NextEra Energy continues to expect 2026 adjusted earnings per share to be in the range of $3.92 to $4.02 and is targeting the high end of that range.Guidance reaffirmed
NextEra Energy also continues to expect a compound annual growth rate in adjusted earnings per share of 8%+ annually through 2032 and is targeting the same from 2032 through 2035, all off the 2025 base of $3.71 adjusted earningsGuidance reaffirmed
per share.
NextEra Energy also continues to expect to grow its dividends per share at a roughly 10% rate per year through 2026, off a 2024 base, and 6% per year from year-end 2026 through 2028.Guidance reaffirmed
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