NextEra Energy, Inc. has announced its financial results for the first quarter of 2025, reporting net income attributable to the company of $833 million, or $0.40 per share, on a GAAP basis. This compares to $2.268 billion, or $1.10 per share, for the same period in 2024. On an adjusted basis, first-quarter earnings were $2.038 billion, or $0.99 per share, up from $1.873 billion, or $0.91 per share, a year ago.
John Ketchum, chairman, president, and CEO of NextEra Energy, stated that the company had a strong start to the year, with adjusted earnings per share rising nearly 9% year-over-year, driven by solid financial and operational performance. He noted that FPL continued to enhance its customer value by filing a four-year rate plan focused on smart, customer-centric investments to maintain high reliability and low bills.
Amid strong U.S. economic demand, NextEra Energy Resources added about 3.2 GW of new renewables and storage to its backlog. The company expects to meet or exceed its adjusted earnings per share targets through 2027 while maintaining a strong balance sheet and credit ratings.
FPL reported first-quarter 2025 net income of $1.316 billion ($0.64 per share), up from $1.172 billion ($0.57 per share) a year earlier, driven by continued business investment. Capital expenditures for the quarter totalled about $2.4 billion, with full-year investments projected between $8 billion and $8.8 billion. Regulatory capital employed rose by approximately 8.1% year-over-year.
FPL remains focused on efficient operations and delivering value to customers through smart capital investments, cost leadership, high reliability, and low bills. In the first quarter, FPL added 894 megawatts of cost-effective solar, expanding its total solar portfolio to over 7.9 gigawatts, the largest utility-owned solar portfolio in the U.S.
In February, FPL submitted a four-year rate proposal to the Florida Public Service Commission (PSC) for the period 2026–2029, aimed at maintaining reliable electricity, excellent customer service, and diversifying generation. The proposal includes base rate adjustments totaling $1.545 billion in 2026 and $927 million in 2027, with a Solar & Battery Base Rate Adjustment for 2028 and 2029. FPL expects typical residential bills to increase by about 2.5% annually, remaining 25% below the national average.
In April, FPL submitted its Ten-Year Site Plan, outlining the need for over 17 GW of solar generation and 7.6 GW of battery storage over the next decade. The plan aims to increase solar’s share of total generation from 9% in 2024 to 35% by 2034.
NextEra Energy Resources
NextEra Energy Resources reported a first-quarter 2025 net income of $172 million ($0.08 per share), down from $966 million ($0.47 per share) in Q1 2024. On an adjusted basis, earnings were $908 million ($0.44 per share), up from $828 million ($0.40 per share) year-over-year. The company added 3.2 GW to its renewables and storage backlog, bringing the total to 28 GW.
Corporate and Other
In the first quarter of 2025, Corporate and Other results decreased by $0.38 per share on a GAAP basis compared to the same period last year. On an adjusted basis, the decline was $0.03 per share compared to the previous year.
Outlook
NextEra Energy’s long-term financial outlook remains steady. For 2025, the company expects adjusted earnings per share to range from $3.45 to $3.70. For 2026 and 2027, the expected range is $3.63 to $4.00 and $3.85 to $4.32, respectively. Additionally, NextEra Energy aims to grow its dividends per share by approximately 10% annually through at least 2026, based on a 2024 starting point.
