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NextEra Energy Beats Q1 Earnings Estimates, Revenues Rise Y/Y
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Key Takeaways
NEE posted adjusted Q1 EPS of $1.09, up 10.1% YoY, beating the 98 cents consensus estimate.
Revenues rose 7.3% to $6.70B but missed estimates; Energy Resources added a record 4 GW to backlog.
NextEra Energy Resources' backlog reached 33 GW and FPL placed about 600 MW of new solar in service.
NextEra Energy (NEE - Free Report) reported first-quarter 2026 results with adjusted earnings per share of $1.09, up 10.1% from 99 cents a year ago. The figure beat the Zacks Consensus Estimate of 98 cents by 11.2%. Strong contributions from both Florida Power & Light (“FPL”) and NextEra Energy Resources allowed the company to surpass expectations.
GAAP earnings per share were $1.04 compared with 40 cents in the year-ago quarter. The difference between GAAP and operating earnings per share in the reported quarter was due to one-time losses of 6 cents and a benefit of a penny from income tax.
Revenues
Total operating revenues were $6.70 billion, up 7.3% year over year but below the Zacks Consensus Estimate of $7.20 billion by 7.0%. A key highlight was NextEra Energy Resources’ record renewables and storage origination, which added 4 gigawatts (“GW”) to backlog.
NextEra Energy, Inc. Price, Consensus and EPS Surprise
NEE’s Revenue Mix Reflected Strength in Both Engines
Operating revenues increased from $6.25 billion in the first quarter of 2025, supported by gains across both major operating platforms. By segment, FPL generated $4.27 billion of operating revenues in the quarter, while NextEra Energy Resources produced $2.31 billion, with Corporate and Other adding $119 million.
Highlights of NextEra Energy's Release
FPL’s growth in the reported quarter was largely fueled by ongoing business investments. Operationally, FPL’s regulatory capital employed increased about 8.8% year over year, while the customer base expanded nearly 100,000 in the quarter. The company also highlighted continued solar buildout, placing roughly 600 megawatts of new solar into service and taking its owned and operated solar portfolio to more than 8.5 GW, alongside ongoing efforts to keep bills low and reliability high.
NextEra Energy Resources had a strong quarter for new renewables and storage origination, adding to its backlog. With the new additions, NextEra Energy Resources' backlog now totals 33 GW after taking into account more than 0.3 GW of new projects placed into service as of April 23, 2026.
NextEra Energy Resources also emphasized progress on its data center hub strategy, including selection by the U.S. Department of Commerce to build 9.5 GW of new gas-fired generation to serve large loads in Texas and Pennsylvania, with it positioned to develop, build and operate the projects.
Total operating expenses in the first quarter were $4.75 billion, up 17.9%, due to higher operational and maintenance expenses and higher fuel, purchased power and interchange expenses.
Financial Highlights
On the balance sheet at March 31, 2026, NextEra Energy reported cash and cash equivalents of nearly $2 billion and total assets of $221.42 billion.
Long-term debt stood at $93.95 billion, while total equity was $66.63 billion.
Cash flow dynamics reflected the capital-intensive model: net cash provided by operating activities was $2.61 billion, net cash used in investing activities was $10.82 billion and net cash provided by financing activities was $7.68 billion, including $1.30 billion of dividends on common stock during the quarter.
The utility’s full-year growth narrative continued to center on capital deployment, with nearly $3.2 billion of capital expenditures in the quarter and expected full-year capital investments of $12 billion to $13 billion.
NEE Guidance and Financial Position Stayed in Focus
NextEra Energy maintained the 2026 adjusted earnings per share expectation of $3.92 to $4.02 and said it is targeting the high end of that range. The Zacks Consensus Estimate for 2026 earnings per share is currently pegged at $4.01, which is near the top of the guidance.
In the long term, the company continues to target adjusted earnings per share growth of more than 8% annually through 2032 to 2035, using 2025 adjusted earnings of $3.71 as the base.
Xcel Energy (XEL - Free Report) is set to release first-quarter 2026 results on April 30. The Zacks Consensus Estimate for earnings per share is pegged at 92 cents.
XEL’s long-term (three-to-five years) earnings growth rate is 8.88%. The Zacks Consensus Estimate for first-quarter earnings per share indicates year-over-year growth of 9.5%.
Dominion Energy (D - Free Report) is scheduled to announce first-quarter 2026 results on May 1. The Zacks Consensus Estimate for earnings per share is pegged at 89 cents.
D’s long-term earnings growth rate is 5.29%. The Zacks Consensus Estimate for first-quarter earnings per share indicates a decline of 4.3% from the prior-year actual.
Exelon Corporation (EXC - Free Report) is scheduled to announce first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at 89 cents per share.
Exelon’s long-term earnings growth rate is estimated at 6.03%. The Zacks Consensus Estimate for first-quarter earnings per share indicates a decline of 3.3% from the year-earlier level.
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NextEra Energy Beats Q1 Earnings Estimates, Revenues Rise Y/Y
Key Takeaways
NextEra Energy (NEE - Free Report) reported first-quarter 2026 results with adjusted earnings per share of $1.09, up 10.1% from 99 cents a year ago. The figure beat the Zacks Consensus Estimate of 98 cents by 11.2%. Strong contributions from both Florida Power & Light (“FPL”) and NextEra Energy Resources allowed the company to surpass expectations.
GAAP earnings per share were $1.04 compared with 40 cents in the year-ago quarter. The difference between GAAP and operating earnings per share in the reported quarter was due to one-time losses of 6 cents and a benefit of a penny from income tax.
Revenues
Total operating revenues were $6.70 billion, up 7.3% year over year but below the Zacks Consensus Estimate of $7.20 billion by 7.0%. A key highlight was NextEra Energy Resources’ record renewables and storage origination, which added 4 gigawatts (“GW”) to backlog.
NextEra Energy, Inc. Price, Consensus and EPS Surprise
NextEra Energy, Inc. price-consensus-eps-surprise-chart | NextEra Energy, Inc. Quote
NEE’s Revenue Mix Reflected Strength in Both Engines
Operating revenues increased from $6.25 billion in the first quarter of 2025, supported by gains across both major operating platforms. By segment, FPL generated $4.27 billion of operating revenues in the quarter, while NextEra Energy Resources produced $2.31 billion, with Corporate and Other adding $119 million.
Highlights of NextEra Energy's Release
FPL’s growth in the reported quarter was largely fueled by ongoing business investments. Operationally, FPL’s regulatory capital employed increased about 8.8% year over year, while the customer base expanded nearly 100,000 in the quarter. The company also highlighted continued solar buildout, placing roughly 600 megawatts of new solar into service and taking its owned and operated solar portfolio to more than 8.5 GW, alongside ongoing efforts to keep bills low and reliability high.
NextEra Energy Resources had a strong quarter for new renewables and storage origination, adding to its backlog. With the new additions, NextEra Energy Resources' backlog now totals 33 GW after taking into account more than 0.3 GW of new projects placed into service as of April 23, 2026.
NextEra Energy Resources also emphasized progress on its data center hub strategy, including selection by the U.S. Department of Commerce to build 9.5 GW of new gas-fired generation to serve large loads in Texas and Pennsylvania, with it positioned to develop, build and operate the projects.
Total operating expenses in the first quarter were $4.75 billion, up 17.9%, due to higher operational and maintenance expenses and higher fuel, purchased power and interchange expenses.
Financial Highlights
On the balance sheet at March 31, 2026, NextEra Energy reported cash and cash equivalents of nearly $2 billion and total assets of $221.42 billion.
Long-term debt stood at $93.95 billion, while total equity was $66.63 billion.
Cash flow dynamics reflected the capital-intensive model: net cash provided by operating activities was $2.61 billion, net cash used in investing activities was $10.82 billion and net cash provided by financing activities was $7.68 billion, including $1.30 billion of dividends on common stock during the quarter.
The utility’s full-year growth narrative continued to center on capital deployment, with nearly $3.2 billion of capital expenditures in the quarter and expected full-year capital investments of $12 billion to $13 billion.
NEE Guidance and Financial Position Stayed in Focus
NextEra Energy maintained the 2026 adjusted earnings per share expectation of $3.92 to $4.02 and said it is targeting the high end of that range. The Zacks Consensus Estimate for 2026 earnings per share is currently pegged at $4.01, which is near the top of the guidance.
In the long term, the company continues to target adjusted earnings per share growth of more than 8% annually through 2032 to 2035, using 2025 adjusted earnings of $3.71 as the base.
NEE’s Zacks Rank
NextEra Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Xcel Energy (XEL - Free Report) is set to release first-quarter 2026 results on April 30. The Zacks Consensus Estimate for earnings per share is pegged at 92 cents.
XEL’s long-term (three-to-five years) earnings growth rate is 8.88%. The Zacks Consensus Estimate for first-quarter earnings per share indicates year-over-year growth of 9.5%.
Dominion Energy (D - Free Report) is scheduled to announce first-quarter 2026 results on May 1. The Zacks Consensus Estimate for earnings per share is pegged at 89 cents.
D’s long-term earnings growth rate is 5.29%. The Zacks Consensus Estimate for first-quarter earnings per share indicates a decline of 4.3% from the prior-year actual.
Exelon Corporation (EXC - Free Report) is scheduled to announce first-quarter 2026 results on May 6. The Zacks Consensus Estimate for earnings is pegged at 89 cents per share.
Exelon’s long-term earnings growth rate is estimated at 6.03%. The Zacks Consensus Estimate for first-quarter earnings per share indicates a decline of 3.3% from the year-earlier level.