Image Source: NextEra Energy
By Brian Nelson, CFA
NextEra Energy (NEE) recently reported fourth quarter results that were mixed. Revenue missed the consensus forecast, while non-GAAP earnings per share slightly beat. Fourth quarter 2025 adjusted net income attributable to NextEra Energy was $1.133 billion, or $0.54 per share, compared to $1.095 billion, or $0.53 per share, in the fourth quarter of 2024. On an adjusted basis, full-year 2025 earnings were $7.683 billion, or $3.71 per share, compared to $7.063 billion, or $3.43 per share, in 2024, representing year-over-year growth of roughly 8.2%.
Management had the following to say about the results:
NextEra Energy delivered strong operational and financial performance in 2025, increasing full-year adjusted earnings per share by more than 8% over 2024 and exceeding the top end of the range we communicated in December. FPL’s new four-year rate agreement enables us to make smart, long-term investments on behalf of our customers so we can continue to deliver some of the nation’s most reliable and affordable electricity to power Florida’s growth. NextEra Energy Resources had another record year of new generation and storage origination, adding approximately 13.5 gigawatts to its backlog, including our plan to recommission our Duane Arnold nuclear plant, which was enabled by a power purchase agreement with Google. NextEra Energy Resources also brought 7.2 gigawatts of new generation online. Together, FPL and NextEra Energy Resources added around 8.7 gigawatts of new generation and storage projects to power America’s growing economy. Looking ahead, our forecasted growth is visible and balanced between our regulated and long-term contracted businesses. We believe there is no company better positioned to build the new energy infrastructure required to reliably and affordably meet America’s surging electricity demand.
NextEra Energy continues to operate a stable, growing business. The company continues to expect 2026 adjusted earnings per share to be in the range of $3.92-$4.02. “NextEra Energy also continues to expect a compound annual growth rate in adjusted earnings per share of 8%+ annually through 2032 and is targeting the same from 2032 through 2035, all off the 2025 base of $3.71 adjusted earnings per share. NextEra Energy also continues to expect to grow its dividends per share at a roughly 10% rate per year through 2026, off a 2024 base, and 6% per year from year-end 2026 through 2028.” We continue to like NextEra Energy as an idea in the ESG Newsletter portfolio.
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Brian Nelson owns shares in SPY, SCHG, QQQ, QQQM, DIA, VOT, RSP, and IWM. Valuentum owns SPY, SCHG, QQQ, QQQM, VOO, and DIA. Brian Nelson’s household owns shares in HON, DIS, HAS, NKE, DIA, RSP, SCHG, QQQ, QQQM, and VOO. Some of the other securities written about in this article may be included in Valuentum’s simulated newsletter portfolios. Contact Valuentum for more information about its editorial policies.
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