NextEra Energy Q2 Earnings Call Highlights

NextEra Energy reported Q2 adjusted EPS of $1.15 and kept its 2026 EPS outlook at $3.92 to $4.02, while reaffirming long-term annual EPS growth targets of at least 8% through 2032 and 2035. Florida Power & Light continued to drive results with customer growth, higher capital spending, and a bigger large-load demand outlook; NextEra now sees 8 GW of large-load demand by 2032, up from 6 GW previously. NextEra Energy Resources added 3.6 GW to its backlog and now has about 35.1 GW of backlog, while the company also advanced major transmission, nuclear, gas, and Dominion transaction plans that could support future growth.

NextEra Energy NYSE: NEE reported second-quarter 2026 adjusted earnings per share of $1.15, while adjusted EPS for the first six months of the year rose 9.8% from a year earlier. Chairman, President and CEO John Ketchum said the results reflected continued execution at Florida Power & Light Co. and NextEra Energy Resources amid rising electricity demand. The company maintained its 2026 adjusted EPS outlook of $3.92 to $4.02 and said it is targeting the high end of that range. Chief Financial Officer Mike Dunne said NextEra continues to expect adjusted EPS growth of at least 8% annually through 2032 and is targeting the same growth rate through 2035, using 2025 adjusted EPS of $3.71 as the base.

NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race Florida Power & Light's EPS increased $0.05 year over year in the second quarter, driven in part by approximately 9.3% growth in regulatory capital employed, Dunne said. FPL invested about $2.8 billion during the quarter and expects full-year capital investments of $12 billion to $13 billion. FPL added more than 90,000 customers compared with the prior-year quarter. Retail sales rose approximately 0.4%, or roughly 0.6% on a weather-normalized basis, supported primarily by population growth, according to Dunne.

AI’s Power Problem Is Turning Nuclear Stocks Into a Bigger Market Story Ketchum said FPL's typical residential bill remains about 30% below the national average and is projected to rise by an average of 2% annually through the end of the decade. He also said FPL's non-fuel operations and maintenance costs are more than 70% below the industry average on a dollar-per-megawatt-hour basis, while reliability is more than 60% better than the national average. FPL placed four solar sites into service during the quarter and remains on track to install approximately 900 megawatts of solar capacity and more than 1.4 gigawatts of battery storage this year. The company said about 90% of FPL's generation mix is anchored by baseload natural gas and nuclear generation.

NextEra raised its forecast for large-load demand at FPL to 8 gigawatts by 2032 from 6 gigawatts previously. Ketchum said FPL has roughly 21 GW of large-load interest and is in advanced discussions involving 12 GW, with some potential service beginning as early as 2028. The company expects to announce at least one transaction under FPL's large-load tariff by year-end. FPL President and CEO Scott Bores said legislation enacted in Florida in May provides greater certainty for customers planning multibillion-dollar investments. He said the utility's baseload generation fleet allows it to integrate new generation quickly to meet customers' speed-to-market requirements. At NextEra Energy Resources, adjusted earnings increased approximately 18% year over year. New investments added $0.09 per share, primarily reflecting growth in the power-generation portfolio, while other items were roughly flat on a net basis, Dunne said.