NextEra Energy, Inc. Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Performance

  • Adjusted earnings per share increased 10% year-over-year versus Q1 2025.
  • Growth driven by strong operations at FPL and Energy Resources.
  • Management reiterated full-year 2026 adjusted EPS guidance of $3.92 to $4.02, targeting the high end.
  • Long-term adjusted EPS growth outlook: 8%+ CAGR through 2032 and from 2032 through 2035, off a 2025 base of $3.71.

Florida Power & Light (FPL) Highlights

  • EPS contribution increased $0.06 year-over-year.
  • Regulatory capital growth of 8.8% year-over-year was a major driver.
  • Q1 capital expenditures totaled $3.2 billion; full-year expected at $12–$13 billion (up from prior $10–$11 billion). Increase due to proactive supply chain investment.
  • Added nearly 100,000 customers over the past 12 months (compared to Q1 2025), highlighting continued Florida population and economic growth.
  • Retail sales increased 3.4% year-over-year; weather-normalized growth of 0.3% driven by population trends.
  • Placed 600 MW of new solar in service; total FPL-owned solar now exceeds 8.5 GW.
  • Bills remain approximately 30% below national average and projected to grow only ~2% annually through the decade.
  • FPL expects $90–$100 billion in investment through 2032 to meet rising demand.

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Operator: Good day, and welcome to the NextEra Energy, Inc. First Quarter 2026 Earnings Call. [Operator Instructions] Please note that today's event is being recorded. At this time, I would now like to turn the conference over to Mark Edelman, Director of Investor Relations. Please go ahead, sir. Mark Eidelman: Good morning, everyone, and thank you for joining our first 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 Dunn, Executive Vice President and Chief Financial Officer of NextEra Energy; Armando Pimentel, Chief Executive Officer of Florida Power & Light Company; Scott Boris, President 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 are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect because of other factors discussed in today's earnings news release and the comments made during this conference call in the Risk Factors section of the compan

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