NextEra Energy NEE reported second-quarter 2026 results with adjusted earnings per share of $1.15, up 9.5% from $1.05 a year ago. The figure beat the Zacks Consensus Estimate of $1.09 by 5.5%. Strong contributions from both Florida Power & Light (“FPL”) and NextEra Energy Resources allowed the company to surpass expectations.
GAAP earnings per share were $1.50 compared with 98 cents in the year-ago quarter.
Revenues
Total operating revenues were $7.53 billion, up 12.4% year over year but missed the Zacks Consensus Estimate of $7.99 billion by 5.8%. A key highlight was NextEra Energy Resources’ record renewables and storage origination, which added 3.6 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 $6.7 billion in the second quarter of 2025 to $7.53 billion, supported by gains across both major operating platforms. By segment, FPL generated $4.89 billion of operating revenues in the quarter, while NextEra Energy Resources produced $2.53 billion, with Corporate and Other adding $106 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 9.3% year over year, while the customer base expanded nearly 90,000 in the quarter.
FPL continues to witness strong demand from hyperscalers and other large customers seeking reliable, competitively priced power with quick deployment. The utility has nearly 21 GW of large-load interest, including 12 GW in advanced discussions, with some projects potentially coming online as early as 2028. FPL expects to announce at least one large-load deal under its tariff by year-end.
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 35.1 GW after taking into account more than 1.1 GW of new projects placed into service as of July 24, 2026.
Total operating expenses in the second quarter were $5.28 billion, up 10%, due to higher operational and maintenance expenses and higher fuel, purchased power and interchange expenses.
Financial Highlights
On the balance sheet at June 30, 2026, NextEra Energy reported cash and cash equivalents of nearly $2.86 billion and total assets of $232.8 billion.
Long-term debt stood at $98.79 billion, while total equity was $68.1 billion.
In the first six months of 2026, net cash provided by operating activities was $7.27 billion, net cash used in investing activities was $19.11 billion and net cash provided by financing activities was $12.05 billion.
The utility’s full-year growth narrative continued to center on capital deployment, with nearly $5.78 billion of capital expenditures in the first six months of the year.
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 is set to release second-quarter 2026 results on July 30. The Zacks Consensus Estimate for earnings per share is pegged at 79 cents.
XEL’s long-term (three-to-five years) earnings growth rate is 9.36%. The Zacks Consensus Estimate for second-quarter earnings per share indicates year-over-year growth of 5.33%.
Dominion Energy D is scheduled to announce second-quarter 2026 results on July 31. The Zacks Consensus Estimate for earnings per share is pegged at 78 cents.
The consensus estimate for second-quarter earnings per share indicates growth of 4% from the prior-year actual.
Exelon Corporation EXC is scheduled to announce second-quarter 2026 results on July 30. The Zacks Consensus Estimate for earnings is pegged at 44 cents per share.
Exelon’s long-term earnings growth rate is estimated at 6.03%. The Zacks Consensus Estimate for second-quarter earnings per share indicates growth of 12.82% from the year-earlier level.
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This article originally published on Zacks Investment Research (zacks.com).