The maintained guidance and 8%+ long-term growth target, combined with strong origination (3.7 GW added) and progress on the Dominion merger, support the growth narrative. Key catalysts to watch: regulatory decisions on the Dominion combination (Virginia hearing Nov 2026, South Carolina Dec 2026, North Carolina Feb 2027), large-load transaction announcements under FPL's tariff, and continued backlog conversion to in-service assets.
Price Chart
Executive Summary
NextEra Energy reported Q3 2026 adjusted EPS of $1.24, up 9.7% YoY from $1.13, on total operating revenues of $8.09B. The company maintained its 2026 adjusted EPS guidance range of $3.92-$4.02 and long-term 8%+ growth target through 2032, while advancing the pending Dominion Energy combination with shareholder approval and ongoing regulatory reviews.
Key Financial Metrics
Key Facts
- Q3 2026 adjusted EPS $1.24 vs $1.13 YoY, a 9.7% increase
- Q3 2026 GAAP net income $4.775B ($2.28 per share) vs $2.438B ($1.18 per share) YoY
- FPL net income $1.62B ($0.77 per share) vs $1.463B ($0.71 per share) YoY, regulatory capital employed up ~9.2%
- NextEra Energy Resources added 3.7 GW to backlog, now ~36.7 GW total
- 2026 adjusted EPS guidance maintained at $3.92-$4.02, targeting high end
- Long-term adjusted EPS growth target of 8%+ CAGR through 2032 reaffirmed
- Dominion Energy combination approved by both companies' shareholders in September; regulatory reviews ongoing with expected close in H2 2027
- Closed $1.9B DOE loan for Duane Arnold nuclear restart; executed 20-year PPA for ~1 GW of Point Beach nuclear output
- Signed definitive agreements for three federal hub projects totaling ~16.5 GW with $5.7B initial funding secured YTD
- Operating cash flow (9 months 2026) $12.322B vs $9.986B in prior-year period
Financial Impact
Adjusted EPS grew 9.7% YoY; FPL regulatory capital employed up ~9.2%; NEER backlog grew to ~36.7 GW; $5.7B in initial funding secured for federal hub projects
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| FPL | $5.4B | +2.6% |
| NEER | $2.5B | -1.9% |
| Corporate and Other | $153.0M | +33.0% |
Risk Factors
- Regulatory approval risk for Dominion Energy combination — any denial or onerous conditions could derail the deal
- Hurricane Isaias restoration costs and potential future storm impacts on FPL's service territory
- Execution risk on large federal hub projects and data center campus developments
- Interest rate sensitivity given $97.1B in long-term debt and capital-intensive growth plan
- Nuclear recommissioning (Duane Arnold) subject to regulatory and operational risks
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000753308-26-000077 |
| Document: nee-20261021.htm | 0000753308-26-000077 |
| Document: 0000753308-26-000077-index-headers.html | 0000753308-26-000077 |
| Document: 0000753308-26-000077-index.html | 0000753308-26-000077 |
| Document: 0000753308-26-000077.txt | 0000753308-26-000077 |
| 8-K Data (Synthetic) | 0000753308-26-000077 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 6d ago | 8-K | $78.28 $81.90 | ▲ +4.62% | ▲ +5.81% | $82.19 (+5.00%) |
Oct 21, 2026 6d ago | Press Release | $78.28 $81.90 | ▲ +4.62% | ▲ +5.81% | $82.19 (+5.00%) |
Oct 20, 2026 6d ago | Institutional Cluster | $78.28 $81.90 | ▲ +4.62% | ▲ +5.81% | $82.19 (+5.00%) |
Oct 6, 2026 20d ago | 8-K | $77.06 $77.37 | ▲ +0.40% | ▲ +0.83% | $82.19 (+6.66%) |
Sep 30, 2026 26d ago | 425 | $76.35 $76.83 | ▲ +0.63% | ▼ −0.11% | $82.19 (+7.66%) |
Sep 30, 2026 26d ago | 425 | $76.35 $76.83 | ▲ +0.63% | ▼ −0.11% | $82.19 (+7.66%) |
Sep 25, 2026 4w ago | 425 | $75.49 $75.89 | ▲ +0.53% | ▲ +0.71% | $82.19 (+8.88%) |
Sep 24, 2026 4w ago | 425 | $76.08 $75.49 | ▼ −0.78% | ▼ −0.03% | $82.19 (+8.04%) |
Sep 14, 2026 6w ago | 425 | $81.07 $80.37 | ▼ −0.86% | ▼ −0.42% | $82.19 (+1.39%) |
Sep 14, 2026 6w ago | 425 | $81.07 $80.37 | ▼ −0.86% | ▼ −0.42% | $82.19 (+1.39%) |
US Market Status
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