NextEra Energy, Inc. Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

NextEra Energy Q3 2026 Earnings Summary

Overall Performance: Adjusted EPS rose 9.7% year-over-year in Q3 2026. Through the first nine months of 2026, adjusted EPS increased 9.5% YoY. The company is targeting the high end of its 2026 guidance range of $3.92–$4.02. Long-term guidance remains 8%+ CAGR through 2032 and targets the same rate from 2032–2035 (off 2025 base of $3.71). Dividend growth targeted at ~10% annually through 2026 (off 2024 base), then 6% annually through 2028.

FPL Segment Highlights

  • EPS increased $0.06 YoY, driven by 9.2% growth in regulatory capital employed.
  • Q3 capital expenditures: ~$2.4 billion; full-year 2026 expected ~$12 billion.
  • Regulatory ROE (12 months ending Sep 2026): ~11.8%.
  • Retail sales: +2.8% YoY (weather-normalized +1.4%).
  • Key metrics vs. national averages: Typical residential bill ~37% lower; non-fuel O&M >70% lower (per MWh); reliability >60% better.
  • Raised large-load expectations to 8 GW by 2032 (from 6 GW); confident in announcing a deal by year-end.

Energy Resources Segment Highlights

  • Adjusted earnings growth ~13% YoY; adjusted EPS +$0.06 YoY.
  • Added 3.7 GW of renewables/storage to backlog in Q3 (including 2.4 GW battery storage); total backlog now ~36.7 GW.

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Operator: Good morning, and welcome to the NextEra Energy Inc. third quarter 2026 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Michael Dowling, Director of Investor Relations. Please go ahead. Michael Dowling: Good morning, everyone, and thank you for joining our third quarter 2026 financial results conference call for NextEra Energy. With me this morning are John Ketchum, Chairman, President, and Chief Executive Officer of NextEra Energy; Mike Dunne, Executive Vice President and Chief Financial Officer of NextEra Energy; Armando Pimentel, Vice Chairman of NextEra Energy; Scott Bores, President and Chief Executive Officer of Florida Power & Light Company; Brian Bolster, President and Chief Executive Officer of NextEra Energy Resources; and Mark Hickson, Executive Vice President of NextEra Energy. John will start with opening remarks, and then Mike will provide an overview of our results. Our executive team will then be available to answer your questions. We will be making forward-looking statements during this call based on current expectations and assumptions, which

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