NextEra Energy, Inc. (NYSE: NEE) reported strong first-quarter 2026 financial results on April 23, 2026, with adjusted earnings per share (EPS) reaching $1.09, a 10.1% increase from $0.99 in the prior-year quarter. This figure exceeded the Zacks Consensus Estimate of $0.98 by 11.2%. GAAP earnings per share for the quarter were $1.04, compared to $0.40 in the first quarter of 2025.
The company's total operating revenues for the quarter were $6.70 billion, marking a 7.3% year-over-year increase from $6.25 billion in the first quarter of 2025. However, this fell below the Zacks Consensus Estimate of $7.20 billion.
NextEra Energy's performance was bolstered by strong contributions from both its regulated utility, Florida Power & Light (FPL), and its competitive energy arm, NextEra Energy Resources. FPL's operating revenues reached $4.27 billion, while NextEra Energy Resources generated $2.31 billion.
NextEra Energy Resources achieved a record quarter for new renewables and storage origination, adding 4 gigawatts (GW) to its backlog. This included 1.3 GW of battery storage. With these additions, the total backlog for NextEra Energy Resources now stands at approximately 33 GW, after accounting for over 0.3 GW of new projects placed into service as of April 23, 2026.
The company is actively pursuing its data center hub strategy, driven by the surge in demand for power from artificial intelligence (AI) data centers. NextEra Energy Resources emphasized progress on this strategy, including its 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. These projects are part of the company's existing group of over 30 data center hubs, with a year-end goal to secure roughly 40.
FPL reported a first-quarter 2026 net income of $1.462 billion, or $0.70 per share, an increase from $1.316 billion, or $0.64 per share, in the comparable prior-year quarter. The utility's regulatory capital employed grew by approximately 8.8% year-over-year. FPL added nearly 100,000 new customers over the last 12 months, and its retail sales increased by approximately 3.4% year-over-year, or 0.3% on a weather-normalized basis.
NextEra Energy maintained its 2026 adjusted EPS expectation in the range of $3.92 to $4.02, targeting the high end of this range. The company also reiterated its long-term target of more than 8% annual adjusted EPS growth through 2032 to 2035, using 2025 adjusted earnings of $3.71 as the base.