NextEra Energy, Inc. (NYSE:NEE) reported mixed second quarter results, while reaffirming full year adjusted EPS guidance.
• What’s ahead for NEE stock?
Earnings Snapshot
Adjusted EPS rose 9.5% year-over-year (Y/Y) to $1.15, beating the $1.10 analyst estimate. Meanwhile, revenue came in at $7.53 billion, below the $8.04 billion consensus forecast. The results reflected strong execution across FPL and NextEra Energy Resources.
FPL business reported net income of $1.41 billion, or 67 cents per share, compared with $1.28 billion, or 62 cents per share, a year earlier. Growth was driven by continued capital investments, with second quarter spending reaching approximately $2.8 billion and full-year investments expected at $12 billion–$13 billion. Regulatory capital employed increased 9.3% year over year.
NextEra Energy reported net income of $1.63 billion, or 78 cents per share, compared with $983 million, or 48 cents per share, in the prior-year quarter. Adjusted earnings rose to $1.29 billion, or 62 cents per share, from $1.09 billion, or 53 cents per share, a year earlier.
The segment added 3.6 GW of renewable energy and storage projects to its backlog during the quarter, including 2 GW of battery storage capacity. After adding new projects and bringing 1.1 GW online, the backlog reached approximately 35.1 GW.
Outlook
The company reaffirmed its FY2026 adjusted EPS guidance of $3.92–$4.02, compared with analyst expectations of $4.02.
For full year, the company expects investments at FPL of $12 billion–$13 billion.
NextEra expects adjusted EPS growth of more than 8% annually through 2032 and aims to maintain a similar growth rate through 2035, based on its 2025 earnings base.
Merger With Dominion Energy
NextEra Energy has begun the regulatory approval process for its proposed combination with Dominion Energy, Inc. (NYSE:D) by filing merger applications with state and federal agencies.
The acquisition, announced in May 2026, has been unanimously approved by both boards and is expected to close in 12 to 18 months, subject to regulatory approvals.
If completed, the transaction would provide Dominion Energy customers with $2.25 billion in shareholder-funded bill credits.
The merged company will operate under the NextEra Energy name and continue to trade on the NYSE under NEE.
The combined company aims to strengthen energy infrastructure investments, support economic growth, and deliver approximately 11% annual growth in regulatory capital employed through 2032, along with 9%+ adjusted EPS growth through 2032 and 2035 based on the 2025 earnings base.
The company targets 6% annual dividend growth through 2028, with payout ratios expected below 55% by 2030.
NEE Stock Price Activity: NextEra Energy shares were down 0.44% at $89.39 at publication on Friday.
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