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Dec 31, 2025
NextEra Q4 2025 Earnings Report
NextEra reported solid fourth-quarter results with adjusted EPS growth and strong performance from both FPL and Energy Resources.
Key Takeaways
The company delivered a strong Q4, with net income rising year over year and continued momentum in renewables and storage development. Adjusted EPS slightly increased, and FPL showed consistent growth in earnings.
NextEra Energy reported a GAAP net income of $1.535 billion, or $0.73 per share, for the fourth quarter of 2025.
Adjusted earnings for the fourth quarter of 2025 were $1.133 billion, or $0.54 per share.
FPL's regulatory capital employed increased by approximately 8.1% year-over-year in 2025.
NextEra Energy Resources added approximately 13.5 gigawatts of new generation and storage projects to its backlog in 2025, including a record 3.6 gigawatts in Q4 2025.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
NextEra Energy targets the high end of its 2026 adjusted EPS range and expects to grow adjusted EPS at a CAGR of 8%+ through 2030 and 2035.
Positive Outlook
- Targeting $3.92–$4.02 adjusted EPS for 2026
- Continued 8%+ long-term adjusted EPS growth through 2035
- Dividend expected to grow ~10% in 2026, 6% annually from 2026–2028
- Strong balance sheet and credit metrics maintained
- Operating cash flow expected to grow at or above EPS growth rate
Challenges Ahead
- Interest rate sensitivity may reduce EPS up to $0.04 by 2028
- Corporate and Other segment posted a GAAP loss of $1.15B for FY25
- Q4 adjusted EPS only increased by $0.01 YoY
- Wind resource variability could impact Energy Resources earnings
Historical Earnings Impact
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Avg. Return Before/After Earnings
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