NextEra Energy's Q4 Earnings Surpass Estimates, Revenues Lag

Core Insights - NextEra Energy, Inc. (NEE) reported fourth-quarter 2025 adjusted earnings of 54 cents per share, exceeding the Zacks Consensus Estimate of 53 cents by 1.9% and reflecting a year-over-year increase of 1.9% [1][8] - The company's GAAP earnings per share for the fourth quarter were 73 cents, compared to 58 cents in the same period last year [1] Revenue Performance - NEE's operating revenues for the fourth quarter were $6.5 billion, slightly missing the Zacks Consensus Estimate of $6.52 billion by 0.33%, but showing a year-over-year improvement of 20.7% [2] Segment Results - Florida Power & Light Company (FPL) generated revenues of approximately $4.27 billion, a 10.8% increase from the prior year's $3.86 billion, with earnings of 46 cents per share compared to 41 cents in the previous year [3] - NextEra Energy Resources reported revenues of $2.18 billion, up from $1.45 billion year-over-year, with earnings of 20 cents per share compared to 22 cents in the year-ago quarter [3] - Corporate and Other segment had operating revenues of $111 million, up from $82 million in the prior year, but reported an operating loss of 12 cents per share, wider than the previous year's loss of 10 cents [4] Growth Drivers - FPL's growth was driven by ongoing business investments, with capital expenditures of around $2.1 billion in the quarter and total capital investments of $8.9 billion for the full year [5] - NextEra Energy Resources added 3.6 gigawatts (GW) to its backlog, bringing the total backlog to 29.8 GW, with over 3.6 GW of new projects placed into service as of January 27, 2026 [6] Financial Update - As of December 31, 2025, NEE had cash and cash equivalents of nearly $2.81 billion, up from $1.49 billion a year earlier, while long-term debt increased to $89.56 billion from $72.4 billion [7] - Cash flow from operating activities in 2025 was $12.48 billion, down from $13.26 billion in 2024 [7] Future Guidance - NEE reaffirmed its 2026 adjusted earnings per share guidance of $3.92 to $4.02 and expects a compound annual growth rate in adjusted earnings per share of over 8% through 2032 [9] - The company aims to add 76,600-107,600 megawatts (MW) of renewable power projects to its portfolio from 2026 to 2032 and anticipates growing dividends per share at approximately 10% annually through 2026 [10]