NextEra Energy, Inc. (NEE) Q3 2025 Financial Results Summary
NextEra Energy, Inc. (NYSE: NEE) released its third-quarter 2025 financial results on October 28, 2025. The report demonstrated significant growth and operational achievements across its business segments.
Financial Highlights
- Net Income:
- Q3 2025: $2.438 billion ($1.18 per share)
- Q3 2024: $1.852 billion ($0.90 per share)
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Year-over-year growth: 31.5% in net income, and 31.1% in earnings per share.
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Adjusted Earnings:
- Q3 2025: $2.348 billion ($1.13 per share)
- Q3 2024: $2.127 billion ($1.03 per share)
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Year-over-year growth: 10.4% in adjusted earnings, and 9.7% in adjusted earnings per share.
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FPL (Florida Power & Light):
- Q3 2025 Net Income: $1.463 billion ($0.71 per share)
- Q3 2024 Net Income: $1.293 billion ($0.63 per share)
- Year-over-year growth: 13.2% in net income and 12.7% in earnings per share.
- Regulatory capital employed increased by 8% year-over-year.
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Capital expenditures for Q3 2025 were approximately $2.5 billion.
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NextEra Energy Resources:
- Q3 2025 Net Income: $1.275 billion ($0.62 per share)
- Q3 2024 Net Income: $1.223 billion ($0.59 per share)
- Year-over-year growth: 4.3% in net income and 5.1% in earnings per share.
- Adjusted earnings for Q3 2025: $1.102 billion ($0.53 per share) vs. $979 million ($0.47 per share) in Q3 2024, reflecting a 12.5% growth.
Operational Highlights
- FPL is focused on maintaining low bills for customers while enhancing reliability and service.
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A proposed four-year base rate settlement agreement aims to keep bills approximately 20% lower than 20 years ago when adjusted for inflation, with only a 2% average increase expected between 2025 and 2029.
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NextEra Energy Resources achieved remarkable growth by adding 3 gigawatts to its backlog.
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The total backlog is now nearly 30 gigawatts, positioning the company for robust future deployments.
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NextEra Energy announced a collaboration with Google for the acceleration of nuclear energy projects in the U.S., specifically facilitating the planned restart of the 615-megawatt Duane Arnold Energy Center in Iowa.
Dividend and Share Repurchase
- NextEra Energy expects to continue growing its dividends per share at a rate of approximately 10% per year through at least 2026 from the 2024 base.
- There were no specific share repurchase announcements made in this report.
Outlook
- NextEra Energy maintains its long-term expectations, projecting adjusted earnings per share of:
- $3.45 to $3.70 for 2025.
- $3.63 to $4.00 for 2026.
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$3.85 to $4.32 for 2027.
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The company remains focused on utilizing its strong financial performance to achieve operational objectives and enhance shareholder value.
Conclusion
NextEra Energy, Inc. reported robust financial growth in Q3 2025, with significant increases in both net income and adjusted earnings. The company’s strategic investments and collaborations position it well for continued success in the energy sector.
| Three Months Ended September 30, 2025 | FPL | NEER | Corporate and Other(a) | NextEra Energy | Preliminary |
|---|---|---|---|---|---|
| Operating Revenues | $ 5,285 | $ 2,566 | $ 115 | $ 7,966 | |
| Operating Expenses | |||||
| Fuel, purchased power and interchange | 1,124 | 299 | — | 1,423 | |
| Other operations and maintenance | 432 | 810 | 168 | 1,410 | |
| Depreciation and amortization | 1,385 | 695 | 16 | 2,096 | |
| Taxes other than income taxes and other | 547 | 103 | 3 | 653 | |
| – net | |||||
| Total operating expenses – net | 3,488 | 1,907 | 187 | 5,582 | |
| Gains (Losses) on Disposal of Businesses/Assets – Net | — | 142 | 1 | 143 | |
| Operating Income (Loss) | 1,797 | 801 | -71 | 2,527 | |
| Other Income (Deductions) | |||||
| Interest expense | -320 | -405 | -428 | -1,153 | |
| Equity in earnings of equity method investees | — | 195 | 9 | 204 | |
| Allowance for equity funds used during construction | 46 | 2 | — | 48 | |
| Gains (losses) on disposal of investments and other property – net | — | 69 | -1 | 68 | |
| Change in unrealized gains (losses) on equity securities held in NEER’s nuclear decommissioning funds – net | — | 63 | — | 63 | |
| Other net periodic benefit income | — | — | 67 | 67 | |
| Other – net | -8 | 42 | 27 | 61 | |
| Total other income (deductions) – net | -282 | -34 | -326 | -642 | |
| Income (Loss) before Income Taxes | 1,515 | 767 | -397 | 1,885 | |
| Income Tax Expense (Benefit) | 52 | -205 | -97 | -250 | |
| Net Income (Loss) | 1,463 | 972 | -300 | 2,135 | |
| Net Loss Attributable to Noncontrolling Interests | — | 303 | — | 303 | |
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ 1,463 | $ 1,275 | $ -300 | $ 2,438 | |
| Reconciliations of Net Income (Loss) Attributable to NextEra Energy, Inc. to Adjusted Earnings (Loss): | |||||
| Net Income (Loss) Attributable to NextEra Energy, Inc. | $ 1,463 | $ 1,275 | $ -300 | $ 2,438 | |
| Adjustments – Pretax:(b) | |||||
| Net losses (gains) associated with non-qualifying hedges | — | -182 | 108 | -74 | |
| Change in unrealized losses (gains) on equity securities held in NEER’s nuclear decommissioning funds and OTTI – net | — | -64 | — | -64 | |
| XPLR Infrastructure, LP investment gains – net | — | 9 | — | 9 | |
| Less related income tax expense (benefit)(c) | — | 64 | -25 | 39 | |
| Adjusted Earnings (Loss) | $ 1,463 | $ 1,102 | $ -217 | $ 2,348 | |
| Earnings (Loss) Per Share Attributable to NextEra Energy, Inc. (assuming dilution) | $ 0.71 | $ 0.62 | $ -0.15 | $ 1.18 | |
| Adjustments – Pretax:(b) | |||||
| Net losses (gains) associated with non-qualifying hedges | — | -0.09 | 0.05 | -0.04 | |
| Change in unrealized losses (gains) on equity securities held in NEER’s nuclear decommissioning funds and OTTI – net | — | -0.03 | — | -0.03 | |
| XPLR Infrastructure, LP investment gains – net | — | — | — | — | |
| Less related income tax expense (benefit)(c) | — | 0.03 | -0.01 | 0.02 | |
| Adjusted Earnings (Loss) Per Share | $ 0.71 | $ 0.53 | $ -0.11 | $ 1.13 | |
| Weighted-average shares outstanding (assuming dilution) | 2,071 |
| September 30, 2025 | FPL | NEER | Corporate and Other(a) | NextEra Energy | Preliminary |
|---|---|---|---|---|---|
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ 75 | $ 1,729 | $ 587 | $ 2,391 | |
| Customer receivables, net of allowances | 2,108 | 1,831 | 3 | 3,942 | |
| Other receivables | 422 | 979 | 97 | 1,498 | |
| Materials, supplies and fuel inventory | 1,358 | 1,056 | 12 | 2,426 | |
| Regulatory assets | 347 | 29 | — | 376 | |
| Derivatives | 15 | 824 | 14 | 853 | |
| Other | 171 | 817 | 197 | 1,185 | |
| Total current assets | 4,496 | 7,265 | 910 | 12,671 | |
| Other assets: | |||||
| Property, plant and equipment – net | 80,519 | 69,360 | 164 | 150,043 | |
| Special use funds | 7,576 | 3,194 | — | 10,770 | |
| Investment in equity method investees | — | 5,438 | 13 | 5,451 | |
| Prepaid benefit costs | 2,042 | 5 | 606 | 2,653 | |
| Regulatory assets | 4,828 | 244 | 103 | 5,175 | |
| Derivatives | 2 | 1,820 | 17 | 1,839 | |
| Goodwill | 2,965 |
