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

NextEra Energy reports first-quarter 2026 financial results

•NextEra Energy delivers strong first-quarter results

•FPL grows regulatory capital employed by approximately 8.8% year-over-year and continues to keep customer bills low while delivering highly reliable electricity

•NextEra Energy Resources achieves a record quarter for new renewables and storage origination, adding 4 gigawatts to its backlog, including another strong quarter of battery storage origination at 1.3 gigawatts

JUNO BEACH, Fla. - NextEra Energy, Inc. (NYSE: NEE) today reported 2026 first-quarter net income attributable to NextEra Energy on a GAAP basis of $2.182 billion, or $1.04 per share, compared to $833 million, or $0.40 per share, for the first quarter of 2025. On an adjusted basis, NextEra Energy's 2026 first-quarter earnings were $2.275 billion, or $1.09 per share, compared to $2.038 billion, or $0.99 per share, in the first quarter of 2025.

"NextEra Energy is off to a terrific start for the year, delivering strong first-quarter results, with adjusted earnings per share increasing by 10% year-over-year," said John Ketchum, chairman, president and chief executive officer. "These results reflect continued strong financial and operational performance across FPL and NextEra Energy Resources as America's electricity demand continues to increase. NextEra Energy builds all forms of energy infrastructure and has experience across the entire energy value chain at massive scale with a balance sheet to back it up. Our customers turn to us because they know we have an unmatched track record of building affordable and reliable energy infrastructure decade after decade. With a service area that spans 49 states and with more than 12 ways to grow, NextEra Energy was built for this seminal moment. Importantly, our forecasted growth is visible and balanced between our regulated and long-term contracted businesses, and 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."

FPL

FPL reported first-quarter 2026 net income of $1.462 billion, or $0.70 per share, compared to $1.316 billion, or $0.64 per share, for the prior-year comparable quarter.

FPL's full-year growth primarily was driven by continued smart capital investments. FPL's capital expenditures were approximately $3.2 billion for the first quarter, and full-year capital investments are expected to be between $12 billion and $13 billion. Regulatory capital employed increased by approximately 8.8% over the same quarter last year.

By making smart capital investments that benefit customers and being industry-leading on costs, FPL continues to deliver its strong customer value proposition of high reliability, outstanding customer service and low bills. In the first quarter, FPL added nearly 100,000 customers, compared to the prior-year comparable period. In one of the fastest-growing states and the world's 15th largest economy, FPL is both creating value for its customers and diversifying its generation portfolio by adding cost-effective solar and storage to one of the nation's largest natural gas-fired fleets and four nuclear units that make up the backbone of its generation fleet. This quarter, FPL placed into service approximately 600 megawatts of new cost-effective solar, putting FPL's owned and operated solar portfolio at over 8.5 gigawatts (GW).

Earlier this month, FPL filed its annual Ten-Year Site Plan, detailing its approach to reliably and cost-effectively meet the growing need for electricity in Florida. The plan shows roughly 4 GW of new gas-fired generation complementing over 12 GW of solar and over 7 GW of storage solutions over the next 10 years, which would further diversify FPL's generation fleet. Even with this significant capital investment, FPL's bills are approximately 30%

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below the national average and only projected to grow, on average, about 2% annually through the end of the decade.

NextEra Energy Resources

NextEra Energy Resources reported first-quarter 2026 net income attributable to NextEra Energy on a GAAP basis of $1.019 billion, or $0.49 per share, compared to $172 million, or $0.08 per share, in the prior-year comparable quarter. On an adjusted basis, NextEra Energy Resources' earnings for the first quarter of 2026 were $1.038 billion, or $0.50 per share, compared to $908 million, or $0.44 per share, for the first quarter of 2025.

NextEra Energy Resources had a record quarter for new renewables and storage origination, adding 4 GW to its backlog, including another strong quarter of battery storage origination at 1.3 GW. With these additions, NextEra Energy Resources' backlog now totals approximately 33 GW after taking into account 0.3 GW of new projects placed into service since the fourth-quarter and full-year 2025 financial results call in January.

NextEra Energy Resources is also off to a terrific start executing against its data center hub strategy, which is built on the power of scale. Last month, the U.S. Department of Commerce selected NextEra Energy Resources to build 9.5 GW of new gas-fired generation to serve large load in Texas and Pennsylvania. The projects are in connection with Japan's $550 billion investment commitment to the U.S. as part of the U.S.-Japan trade deal. The U.S. and Japan would own the projects, while NextEra Energy Resources would develop, build and operate them. NextEra Energy Resources is actively developing both projects, advancing site development, procurement, permitting and commercial structuring as it works toward definitive agreements with the U.S. and Japan. The projects are drawn from the company's existing group of data center hubs - a group that totals over 30 hubs with a year-end goal to secure roughly 40.

Corporate and Other

In the first quarter of 2026 on a GAAP basis, Corporate and Other results increased $0.17 per share, compared to the prior-year comparable quarter. On an adjusted basis, Corporate and Other results for the first quarter of 2026 decreased $0.02 per share, compared to the prior-year comparable quarter.

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 first-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).

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

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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 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.