NextEra 3Q Net Up, Co Sees '26 Adjusted EPS at High End of View
By Rob Curran
NextEra Energy's third-quarter net income rose sharply and the electricity giant guided towards the high end of its 2026 adjusted earnings growth target, anticipating a long-term boom in artificial-intelligence driven large-load demand.
The Juno Beach, Fla., utility and nuclear-power producer posted earnings of $4.78 billion, or $2.28 a share, up from $2.44 billion, or $1.18 a share, a year earlier.
Stripping out one-time items, NextEra logged adjusted earnings of $1.24 a share, topping the average analyst target of $1.20 a share, as per FactSet.
Revenue rose 1.6% to $8.09 billion, short of the average Wall Street target of $8.47 billion.
Florida Power & Light, NextEra's biggest unit and the largest U.S. electric utility by customers, posted earnings of $1.62 billion for the period.
NextEra Energy Resources, NextEra's renewable-energy arm, logged earnings of $1.49 billion. During the quarter, NextEra Energy Resources formed a joint venture with Chesapeake Utilities to build a 97-mile natural gas pipeline in South Florida. The unit has also struck deals for three federal hub projects, representing about 16.5 gigawatts in capacity and has secured $5.7 billion in funding for the projects year-to-date. The hubs are intended to fill rising demand for large electricity loads from data centers and other users.
The company still anticipates that the Duane Arnold nuclear plant in Iowa will reenter service no later than the first quarter of 2029.
NextEra reiterated prior projections for 2026 adjusted earnings in a range between $3.92 and $4.02 a share, adding that it now anticipates hitting the high end of that range. The company continues to expect compound annual growth rate in adjusted earnings per share of 8% or more annually through 2032, and expects that to continue between 2032 and 2035. Those projections are all based off the 2025 adjusted earnings tally of $3.71 a share.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 21, 2026 08:38 ET (12:38 GMT)
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