NextEra Energy reported Q1 2026 adjusted earnings per share of $1.09 on 23 April, beating the analyst consensus of $0.97 by 12.4%. Adjusted EPS rose 10% compared to the same quarter last year.
Why it matters
NextEra is the world’s largest generator of wind and solar energy. Its record backlog signals that corporate and utility demand for clean power is accelerating, driven by data centre construction and AI infrastructure buildouts.
Record renewables quarter
NextEra Energy Resources, the company’s competitive energy arm, added 4 GW of new renewables and storage to its development backlog in Q1. That included 1.3 GW of battery storage, reflecting rising demand for grid-scale energy storage to pair with intermittent solar and wind.
The total backlog now stands at approximately 33 GW, a company record. Demand came from both hyperscale technology companies and traditional electric utilities, according to management.
Japan gas deal
The US Department of Commerce selected a NextEra subsidiary to develop 9.5 GW of new gas-fired generation capacity as part of broader Japan-US bilateral investment commitments. The project underscores how traditional energy companies are expanding into international markets alongside their renewables growth.
Segment performance
Florida Power & Light, NextEra’s regulated utility, reported earnings per share of $0.70, up $0.06 from a year earlier. NextEra Energy Resources delivered stronger growth, with adjusted earnings rising approximately 14% year on year.
Guidance
Management reiterated 2026 adjusted EPS guidance of $3.92 to $4.02 and maintained a target of 8% or higher adjusted EPS compound annual growth through 2032. NextEra also plans dividend-per-share growth of roughly 10% annually through 2026 and 6% annually from year-end 2026 through 2028.