NextEra Energy reports third-quarter 2026 financial results (Form 8-K)

NextEra Energy reports third-quarter 2026 financial results

•NextEra Energy delivers strong third-quarter results

•FPL grows regulatory capital employed by approximately 9.2% year-over-year through disciplined capital investments and continues to keep customer bills low while delivering highly reliable electricity

•NextEra Energy Resources has a strong quarter for new renewables and storage origination, adding 3.7 gigawatts of renewables and storage to its backlog, which now stands at approximately 36.7 gigawatts

•NextEra Energy and Dominion Energy continue to advance their pending combination following shareholder approval

JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2026 third-quarter net income attributable to NextEra Energy on a GAAP basis of $4.775 billion, or $2.28 per share, compared to $2.438 billion, or $1.18 per share, for the third quarter of 2025. On an adjusted basis, NextEra Energy's 2026 third-quarter earnings were $2.592 billion, or $1.24 per share, compared to $2.348 billion, or $1.13 per share, in the third quarter of 2025.

"NextEra Energy delivered strong third-quarter results, with adjusted earnings per share increasing 9.7% year-over-year, reflecting continued strong financial and operational performance at both FPL and NextEra Energy Resources," said John Ketchum, chairman, president and chief executive officer. "Our thoughts remain with the communities across Northwest Florida devastated by Hurricane Isaias. I am incredibly proud of our employees and the thousands of contractors, mutual-assistance crews, first responders and community partners who worked around the clock to restore power safely and quickly to our customers. Their preparation, dedication, commitment and selflessness, together with our investments in a stronger, smarter and more storm-resilient grid, helped reduce the number and duration of outages and enabled us to get our customers' lives back to normal faster.

"A year ago, we laid out a clear plan for NextEra Energy, and today we continue to execute against that plan. We believe NextEra Energy remains one of the best-positioned companies in the sector, with the scale, balance sheet, supply chain, technology, customer relationships, and development and operating expertise to build what our customers need, when and where they need it. We are executing across our full set of growth opportunities by staying focused on affordability, reliability and delivering every day for our customers. We expect to grow adjusted earnings per share at a compound annual growth rate of 8%+ through 2032 and are targeting the same from 2032 through 2035, all off the 2025 base.

"We also continue to advance our pending combination with Dominion Energy. Shareholders of both companies approved the transaction in September, and the state and federal regulatory reviews are moving forward. Last month, we announced a comprehensive benefits package in Virginia centered around affordability, jobs and building more clean energy and battery storage faster to decrease reliance on expensive imports. We believe these additional commitments further demonstrate the tangible benefits this combination can deliver for customers and communities in the Commonwealth. We will also continue to engage in constructive dialogue with stakeholders in South Carolina and North Carolina and are confident this combination will deliver benefits that matter most to each state."

FPL

FPL reported third-quarter 2026 net income of $1.62 billion, or $0.77 per share, compared to $1.463 billion, or $0.71 per share, for the prior-year comparable quarter.

FPL's growth in the third quarter of 2026 was driven primarily by continued disciplined capital investments. FPL's capital expenditures were approximately $2.4 billion for the third quarter, and full-year capital investments are

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expected to be approximately $12 billion. Regulatory capital employed increased by approximately 9.2%, compared to the prior-year comparable quarter.

FPL continues to demonstrate that it can consistently deliver customer affordability and reliability while serving one of the fastest-growing states in the nation and the world's 14th largest economy. FPL's typical residential bill is approximately 37% below the national average and is projected to increase only 2% annually, on average, through the end of the decade. FPL drives consistently low bills through exceptional operational efficiency. FPL's non-fuel O&M is more than 70% lower than the industry average on a dollar-per-megawatt-hour basis. Customers also continue to benefit from top-decile reliability that's more than 60% better than the national average. FPL's customer service is also ranked top decile nationally for residential customer satisfaction, while maintaining the lowest billing cost per customer.

Following Hurricane Isaias, FPL restored power safely and quickly to all customers able to safely accept service. In preparation for the storm, FPL assembled a restoration workforce of approximately 17,000 men and women from 29 states, pre-positioning crews, equipment and supplies ahead of the storm so restoration could begin as soon as conditions were safe. The hurricane exited FPL's service area early Saturday morning, Oct. 10, and by Tuesday, FPL had restored power to more than 97% of affected customers. Early forensic analysis shows investing in a stronger, smarter and more storm-resilient grid benefited FPL customers. Not a single hardened transmission or distribution pole failed during Isaias, underground neighborhood power lines performed approximately 14 times better than overhead lines, and smart-grid technology avoided approximately 140,000 outages.

NextEra Energy Resources

NextEra Energy Resources reported third-quarter 2026 net income attributable to NextEra Energy on a GAAP basis of $1.491 billion, or $0.71 per share, compared to $1.275 billion, or $0.62 per share, in the prior-year quarter. On an adjusted basis, NextEra Energy Resources' earnings for the third quarter of 2026 were $1.247 billion, or $0.59 per share, compared to $1.102 billion, or $0.53 per share, for the third quarter of 2025.

NextEra Energy Resources had a strong quarter of new renewables and storage origination, adding 3.7 gigawatts (GW) to its backlog. This includes another strong quarter of battery storage origination at 2.4 GW. With these additions, NextEra Energy Resources' backlog now totals approximately 36.7 GW after taking into account 1.8 GW of new projects placed into service since the second-quarter 2026 financial results call in July.

NextEra Energy Resources also continues to expand its regulated electric and natural gas transmission portfolio. Regulated and invested capital, along with secured capital expenditures across electric and gas transmission, have increased roughly 25% to approximately $12.7 billion since December 2025. During the quarter, NextEra Energy Resources formed a joint venture with Chesapeake Utilities Corporation to build a $1.2 billion, 97-mile intrastate natural gas pipeline in South Florida.

NextEra Energy Resources continues to make significant progress across its large-load opportunity set. The company has signed definitive agreements for three federal hub projects with two in Texas and one in Pennsylvania, totaling approximately 16.5 GW and has secured $5.7 billion in initial funding year-to-date. For the federal hubs, NextEra Energy Resources expects to develop, build and operate the projects for fees without investing capital.

NextEra Energy Resources also continues to advance a significant pipeline of large-load projects that it expects to own and operate. In July, NextEra Energy was part of a coalition of energy, infrastructure and utility companies that announced a strategic partnership to develop a data center campus at the U.S. Department of Energy's Paducah Site in Western Kentucky. NextEra Energy expects to build and own dedicated generation resources to power the campus, including up to 2 GW of natural gas and up to 2.6 GW of battery storage systems. NextEra Energy Resources also has a development pipeline of 30 potential hubs it is discussing with the market and continues to expect that number to rise to 40 by year-end.

NextEra Energy Resources' Duane Arnold nuclear plant in Iowa remains on track to be recommissioned and re-enter service no later than the first quarter of 2029. During the quarter, the company closed a loan with the U.S. Department of Energy of up to $1.9 billion to support the restart. This milestone moves the company closer to restarting Iowa's only nuclear plant and adding reliable, around-the-clock energy to the regional grid. During the quarter, NextEra Energy Resources also executed a 20-year power purchase agreement for approximately 1 GW of its Point Beach nuclear asset in Wisconsin at a competitive price, which remains subject to approval by the Public Service Commission of Wisconsin. The full output of the plant is now contracted into the 2050s. NextEra Energy Resources' year-to-date renewables and nuclear recontracting total is nearly 2.4 GW.

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Corporate and Other

In the third quarter of 2026 on a GAAP basis, Corporate and Other results increased $0.95 per share, compared to the prior-year quarter. On an adjusted basis, Corporate and Other results for the third quarter of 2026 decreased $0.01 per share, compared to the prior-year quarter.

NextEra Energy and Dominion Energy pending combination

NextEra Energy and Dominion Energy continue to advance their pending combination. On Sept. 3, shareholders of both companies approved the pending combination, satisfying an important closing condition. The state regulatory reviews are also moving forward. In Virginia and South Carolina, procedural schedules have been set with hearings in November and December, respectively, and the companies expect final orders in January 2027. The North Carolina Utilities Commission has established a procedural schedule with expert witness hearings beginning in February 2027. The federal review processes are also underway and continuing.

In September, NextEra Energy announced an enhanced benefits package for Virginia that doubled residential bill credits from two years to four years, provided an additional $100 million of shareholder-funded support for Dominion Energy's customer bill assistance program through 2038, provided $100 million to directly support workforce development and created up to a $5 billion Virginia supplier program through spending commitments over five years that support cost-competitive contractors, suppliers and service providers doing business in Virginia. NextEra Energy also committed to creating 600 new NextEra Energy jobs in Virginia that would work out of a new shareholder-funded co-headquarters tower in downtown Richmond and to maintaining Virginia employee headcount for the next five years. Through its supplier relationships, NextEra Energy has already secured letters of intent for at least 400 new jobs if the combination is approved, bringing the total to 1,000 new Virginia jobs.

As announced in May, the combined company is expected to support approximately 11% annual growth in regulatory capital employed through 2032 and 9%+ adjusted earnings per share growth through 2032, with a 9%+ target through 2035, all off a 2025 base. The companies continue to expect the combination to close in the second half of 2027.

Outlook

NextEra Energy's long-term financial expectations remain unchanged. NextEra Energy continues to expect 2026 adjusted earnings per share to be in the range of $3.92 to $4.02 and is targeting the high end of that range. NextEra Energy also continues to expect a compound annual growth rate in adjusted earnings per share of 8%+ annually through 2032 and is targeting the same from 2032 through 2035, all off the 2025 base of $3.71 adjusted earnings per share. NextEra Energy also continues to expect to grow its dividends per share at a roughly 10% rate per year through 2026, off a 2024 base, and 6% per year from year-end 2026 through 2028.

Conference call information

As previously announced, NextEra Energy's third-quarter 2026 financial results conference call is scheduled for 9 a.m. ET today. The listen-only webcast will be available on NextEra Energy's website by accessing the following link: www.NextEraEnergy.com/FinancialResults. The news release and slides accompanying the presentation may be downloaded at www.NextEraEnergy.com/FinancialResults, beginning at 7:30 a.m. ET today. A replay will be available for 90 days by accessing the link listed above.

NextEra Energy, Inc.

NextEra Energy, Inc. (NYSE: NEE) is the largest electric power and energy infrastructure company in North America and is a leading provider of electricity to American homes and businesses. Headquartered in Juno Beach, Florida, NextEra Energy is a Fortune 200 company that owns Florida Power & Light Company, America's largest electric utility, which provides reliable electricity to approximately 12 million people across Florida. NextEra Energy also owns the largest energy infrastructure development company in the U.S., NextEra Energy Resources, LLC. NextEra Energy and its affiliated entities are meeting America's growing energy needs with a diverse mix of energy sources, including natural gas, nuclear, renewable energy and battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

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Adjusted earnings for the periods in this news release exclude the effects of non-qualifying hedges; XPLR Infrastructure, LP net investment gains; change in unrealized gains and losses on equity securities held in NextEra Energy Resources' nuclear decommissioning funds and other than temporary impairments (OTTI); and merger-related expenses.

NextEra Energy's management uses adjusted earnings, which is a non-GAAP financial measure, internally for financial planning, analysis of performance, reporting of results to the board of directors and as an input in determining performance-based compensation under the company's employee incentive compensation plans. NextEra Energy also uses earnings expressed in this fashion when communicating its financial results and earnings outlook to analysts and investors. NextEra Energy's management believes that adjusted earnings provide a more meaningful representation of NextEra Energy's fundamental earnings power. A reconciliation of historical adjusted earnings to net income attributable to NextEra Energy, which is the most

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directly comparable GAAP measure, is included in the attachments to this news release. Adjusted earnings does not represent a substitute for net income, as prepared in accordance with GAAP.

NextEra Energy does not provide a quantitative reconciliation of forward-looking adjusted earnings per share to earnings per share, the most directly comparable GAAP financial measure, because certain information needed to reconcile these measures is not available without unreasonable efforts due to the inherent difficulty in forecasting and quantifying these measures. These items include, but are not limited to, the effects of non-qualifying hedges and unrealized gains and losses on equity securities held in NextEra Energy Resources, LLC's nuclear decommissioning funds and other than temporary impairments. These items could significantly impact GAAP earnings per share. Adjusted earnings expectations and other forward-looking statements assume, among other things, normal weather and operating conditions; positive macroeconomic conditions in the U.S. and Florida; supportive commodity markets; current forward curves; public policy support for wind, solar, and storage development and construction; market demand for generation development and capacity needs; market demand and policy support for transmission development and expansion; market demand for pipeline capacity; access to capital at reasonable cost and terms; rate case outcomes consistent with historical; no adverse litigation decisions; and no changes to governmental policies or incentives. Please see the accompanying cautionary statements for a list of the risk factors that may affect future results.

This news release should be read in conjunction with the attached unaudited financial information.