NextEra Energy
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NextEra Energy (NEE) investor relations material

NextEra Energy Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary27 Jan, 2026

Executive summary

  • Achieved adjusted EPS of $3.71 for 2025, up 8.2% year-over-year and above the top end of guidance.

  • FPL's 2025 rate agreement approved, providing four years of regulatory certainty and supporting low customer bills.

  • Record origination of 13.5 GW new generation and storage at Energy Resources, expanding backlog to 30 GW.

  • Strategic acquisitions, including Symmetry Energy Solutions and increased stake in Mountain Valley Pipeline, enhanced growth prospects.

  • Strategic partnerships, including with Google Cloud, to drive AI transformation and cost savings.

Financial highlights

  • Adjusted EPS rose to $3.71 in 2025 from $3.43 in 2024; GAAP EPS was $3.30 in 2025 versus $3.37 in 2024.

  • FPL full-year net income increased to $5,012M ($2.42/share) from $4,543M ($2.21/share) year-over-year.

  • Energy Resources full-year adjusted net income grew to $3,523M (EPS $1.70) from $3,118M (EPS $1.51).

  • FPL's 2025 EPS increased $0.21 versus 2024, driven by 8.1% regulatory capital employed growth.

  • Consolidated adjusted EPS from corporate and other segment decreased $0.12/share year-over-year due to higher interest costs.

Outlook and guidance

  • 2026 adjusted EPS guidance is $3.92–$4.02, targeting the high end.

  • Targeting 8%+ compound annual growth in adjusted EPS through 2032, with similar growth through 2035, off the 2025 base of $3.71.

  • Dividend per share growth expected at ~10% per year through 2026, then 6% per year through 2028.

  • Operating cash flow growth expected to match or exceed EPS CAGR.

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Frequently asked questions

Energy for the Coming Era

NextEra Energy Inc., more often than not simply referred to as NextEra, is an American Energy company that generates and sells electricity and associated services to private individuals and businesses. The company is one of the largest of its kind in the US and is one of the world's largest generators of renewable energy, but also produces electricity from more traditional sources such as oil, natural gas, and nuclear. The company is headquartered in Juno Beach, Florida, and its shares trade on the NYSE.

Powering Florida

Founded as Florida Power & Light Company (FPL) in the 1920s, NextEra Energy's early incarnation was primarily concerned with electrifying the state of Florida. This was during a time when the state was being modernized incredibly quickly, with lakes and swamplands being converted into livable communities. FPL gained a massive market share as infrastructure projects expanded, and towns and cities continued to grow. In the early 2000s, the company began substantial investments in renewable energy technologies, particularly wind and solar power. To better encapsulate its evolving operations and expanding portfolio, FPL rebranded as NextEra Energy in 2010.

Operations

NextEra Energy, based in Juno Beach, Florida, is an expansive energy company involved in various facets of the energy sector. Its activities span the generation, transmission, and distribution of electric power. One of its primary subsidiaries, Florida Power & Light (FPL), serves millions of customers in Florida, ensuring consistent electricity delivery throughout the region. FPL manages a vast infrastructure of power plants, substations, and transmission lines. In addition to its traditional power generation assets and renewable energy, which include nuclear, natural gas, and oil facilities, NextEra oversees the operation and maintenance of its electrical grid, ensuring stability and reliability.

When looking at NextEras peers, one finds names such as Duke Energy, Exelon, and AEP among the competition.

Renewable Energy

NextEra Energy has made significant strides in renewable energy, positioning itself as a leader in the sector. With a strong belief in the potential of clean energy sources, the company has invested heavily in both wind and solar power, becoming one of North America's foremost producers in these arenas. Their commitment is evident in their vast portfolios of wind farms and solar parks scattered across various regions. In addition to harnessing wind and solar, NextEra also explores other renewable technologies, such as battery storage solutions, to enhance grid reliability and efficiency.

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