US power utility NextEra Energy recorded a 9.7% increase in its net earnings in Q3 2026, with earnings up 9.5% in the nine months to date this year, according to an earnings call held on 21 October.
In Q3 2026, NextEra Energy reported US$2.592 billion in earnings, compared with US$2.348 billion in Q3 2025. Net income was US$4.775 billion, up from US$2.438 billion in the equivalent period last year. Earnings per share were US$2.28, up from US$1.18 in Q3 2025.
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Both income and earnings were up compared to Q2 2026, when the company recorded US$3.144 billion and US$2.407 billion, respectively.
Both subsidiaries record increased income
Florida Power & Light (FPL), its regional utility business in the south-east US, reported third quarter net income of $1.62 billion, compared with US$1.463 billion in Q3 2025.
NextEra Energy’s chief executive officer Robert Ketchum spoke on the recent extreme weather events in Florida, saying: “Our thoughts remain with the communities across Northwest Florida devastated by Hurricane Isaias.”
“I am incredibly proud of our employees and the thousands of contractors, mutual-assistance crews, first responders and community partners who worked around the clock to restore power safely and quickly to our customers.”
NextEra Energy’s renewable energy development subsidiary, NextEra Energy Resources, reported Q3 income of US$1.491 billion, up from US$1.275 billion in Q3 2025. The company’s earnings were $1.247 billion, compared with US$1.102 billion in Q3 2025.
The subsidiary added 3.7GW of new clean energy capacity to its backlog, 2.4GW of which were battery energy storage systems (BESS). The company said its renewables backlog now amounts to around 36.7GW.
“The continued strong financial and operational performance at both FPL and Energy Resources positions our company well to meet its overall objectives for the year,” added Ketchum.
Dominion Energy merger expected to complete in H2 2027
NextEra Energy also said that it is awaiting regulatory approval for its proposed merger with utility Dominion Energy, for which the companies first submitted their application in July. On 3 September, shareholders of NextEra Energy and Dominion Energy granted their approval for the merger of the two companies, which will create the largest utility company in the US.
Virginia-based pressure groups Secure Solar Futures and Clean Virginia have been among the organisations to warn about negative consequences of the merger, such as a focus on large, centralised infrastructure developments that could increase bills for ratepayers.
During the latest earnings call, Ketchum announced a raft of measures aimed at the Virginian economy, including US$100 million for Dominion Energy’s customer bill assistance programme to last until 2038, the intention to double the length of the residential bill credits scheme to four years, and an “up to […] US$5 billion Virginia supplier program over five years” supporting business working with the merged energy entity.
State government procedural schedules have been set in Virginia and South Carolina for November and December, respectively, this year, with final orders expected in January 2027. The North Carolina Commission has scheduled expert witness hearings beginning in February 2027.
“We continue to expect the combination will close in the second half of 2027,” Ketchum added.
