NextEra Energy, Inc. (NEE) is a leading clean energy company based in Juno Beach, Florida, primarily operating through Florida Power & Light Company (FPL) and NextEra Energy Resources, LLC (NEER) . FPL is the largest electric utility in the United States, delivering clean, affordable, and reliable electricity to approximately 5.9 million customer accounts in Florida, serving over 12 million people . NEER is recognized as the world's largest generator of renewable energy from wind and solar sources and is a leader in battery storage . The company focuses on providing clean energy solutions and operates both rate-regulated and competitive energy businesses .
- Florida Power & Light Company (FPL) - Provides clean, affordable, and reliable electricity to millions of customers in Florida, operating as a rate-regulated utility business.
- NextEra Energy Resources, LLC (NEER) - Generates renewable energy from wind and solar sources and leads in battery storage, operating competitive energy and rate-regulated transmission businesses.
- Corporate and Other - Includes various corporate-level activities and other business operations contributing to the overall revenue.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John W. Ketchum ExecutiveBoard | Chairman, President, and CEO of NEE | Director of NextEra Energy Partners, LP (NEP) | Joined NEE in 2002. Previously served as President and CEO of NextEra Energy Resources. Instrumental in expanding NEE's renewable energy portfolio and leading major capital investment programs. | |
Armando Pimentel, Jr. Executive | President and CEO of Florida Power & Light Co. | Board Member of Ameriprise Financial, Inc. | Rejoined NEE in 2023. Former President and CEO of NextEra Energy Resources. Extensive experience in renewable energy and financial leadership. | |
Brian W. Bolster Executive | EVP, Finance and CFO of NEE | None | Joined NEE in May 2024. Former Partner Managing Director at Goldman Sachs, leading natural resources investment banking. Oversees NEE's financial operations. | |
Charles E. Sieving Executive | EVP, Chief Legal, Environmental, and Federal Regulatory Affairs Officer | None | Joined NEE in 2008. Oversees legal, environmental, and regulatory affairs for NEE and FPL. | |
James M. May Executive | VP, Controller, and Chief Accounting Officer | None | Joined NEE in 2019. Oversees accounting and financial reporting for NEE. | |
Michael H. Dunne Executive | Treasurer of NEE and FPL | None | Joined NEE in 2022. Former Managing Director at Bank of America. Oversees treasury operations for NEE and FPL. | |
Nicole Daggs Executive | EVP, Human Resources and Corporate Services | None | Joined NEE in 2018. Promoted to EVP in January 2024. Oversees HR and corporate services for NEE and FPL. | |
Rebecca J. Kujawa Executive | President and CEO of NextEra Energy Resources | None | Joined NEE in 2007. Former CFO of NEE. Leads the renewable energy subsidiary, focusing on clean energy growth and innovation. | |
Terrell Kirk Crews II Executive | EVP and Chief Risk Officer of NEE | None | Joined NEE in 2016. Former CFO of NEE. Transitioned to Chief Risk Officer in May 2024. Previously worked at Deloitte and the SEC. | |
Amy B. Lane Board | Independent Director | Director at FedEx Corporation and The TJX Companies, Inc. | Independent director since 2015. Former Managing Director at Merrill Lynch, specializing in retail investment banking. | |
David L. Porges Board | Independent Director | None | Independent director since 2020. Former CEO and Chairman of EQT Corporation. Extensive experience in energy and finance. | |
Deborah L. Stahlkopf Board | Independent Director | EVP and Chief Legal Officer at Cisco Systems, Inc. | Independent director since 2023. Extensive legal expertise, including intellectual property, privacy, and cybersecurity. Former senior leader at Microsoft. | |
Geoffrey S. Martha Board | Independent Director | Chairman and CEO of Medtronic plc; Member of Business Roundtable and other organizations | Independent director since 2024. CEO of Medtronic. Expertise in global business, technology, and manufacturing. | |
Kirk S. Hachigian Board | Independent Director | Director at Allegion plc and PACCAR, Inc. | Independent director since 2013. Former CEO and Chairman of global manufacturers. Expertise in operations and strategic planning. | |
Maria G. Henry Board | Independent Director | Director at NIKE, Inc. and General Mills, Inc. | Independent director since 2023. Former CFO of Kimberly-Clark Corporation. Extensive experience in finance and strategy. | |
Naren K. Gursahaney Board | Independent Director | Director at Stericycle, Inc. | Independent director since 2014. Former CEO of ADT Corporation. Extensive experience in operations and strategic planning. |
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Given the challenges you mentioned in addressing the remaining convertible equity portfolio financings due in 2027 and beyond , could you provide more details on the specific alternatives you are evaluating to manage these obligations without impacting NEP's growth trajectory?
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While you've highlighted plans to invest approximately $1.9 billion through 2027 in competitive transmission projects , transmission development often faces regulatory and execution risks; how are you mitigating these risks, and what impact could potential delays or cost overruns have on your expected returns and growth targets?
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Considering the draft hydrogen guidance that requires hourly matching, which increases costs and may limit project feasibility , how confident are you in the viability of your hydrogen initiatives, and what are your contingency plans if the regulatory framework remains unchanged?
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Wind origination has been lower compared to solar and storage, with higher interconnection costs affecting certain projects ; what specific strategies are you implementing to bolster wind additions to meet your 2025 and 2026 targets, and how do you plan to overcome these challenges?
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With plans to repower approximately 985 megawatts of wind projects through 2026 , repowering requires significant capital investment; how do you intend to fund these repowering projects without straining your balance sheet, especially considering the upcoming convertible equity portfolio financings that need to be addressed?
Research analysts who have asked questions during NEXTERA ENERGY earnings calls.
Nicholas Campanella
Barclays
6 questions for NEE
Jeremy Tonet
JPMorgan Chase & Co.
5 questions for NEE
Julien Dumoulin-Smith
Jefferies
5 questions for NEE
Carly Davenport
Goldman Sachs
4 questions for NEE
Steve Fleishman
Wolfe Research, LLC
3 questions for NEE
Steven Fleishman
Wolfe Research
3 questions for NEE
Bill Appicelli
UBS
2 questions for NEE
David Arcaro
Morgan Stanley
2 questions for NEE
Nick Amicucci
Evercore ISI
2 questions for NEE
Andrew Weisel
Scotiabank
1 question for NEE
Anthony Crowdell
Mizuho Financial Group
1 question for NEE
Carly Devenport
Goldman Sachs
1 question for NEE
Charles Sieving
Wells Fargo
1 question for NEE
David Caro
Morgan Stanley
1 question for NEE
Julian Dumoulin-Smith
Jefferies
1 question for NEE
Ryan Levine
Citigroup
1 question for NEE
Shahriar Pourreza
Guggenheim Partners
1 question for NEE
Shar Pourreza
Guggenheim Partners
1 question for NEE
William Appicelli
UBS
1 question for NEE
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Renewable Energy Projects Portfolio | 2023 | The acquisition, completed on March 21, 2023, involved a cash consideration of approximately $1.1 billion plus an assumption of $34 million in debt, acquiring 31 biogas projects including a renewable natural gas facility and several landfill gas-to-electric facilities, with around $0.3 billion in goodwill reflecting expected synergies and expansion opportunities. |
Recent press releases and 8-K filings for NEE.
- Adjusted EPS increased 9.7% YoY, with FPL EPS up $0.08 driven by ~8% regulatory capital growth; FPL capex ~$2.5 B in Q3 and full-year guidance of $9.3–9.8 B; Q3 retail sales down 1.8% (weather-normalized +1.9%), regulatory ROE ~11.7% for 12 months ended Sept 2025
- Energy Resources’ adjusted EPS grew ~13% YoY, led by $0.09/share from new investments; wind resources at 90% of long-term average; added 3 GW to backlog (now nearly 30 GW), including record 1.9 GW of battery storage
- Entered a 25-year PPA with Google to restart the 615 MW Duane Arnold nuclear plant by Q1 2029 (earliest Q4 2028), acquiring the remaining 30% stake and targeting a 10% production tax credit bonus; expected to contribute up to $0.16 of annual EPS over first 10 years
- Reaffirmed 2025–2027 guidance, expecting average annual operating cash flow growth at or above EPS CAGR (2023–2027) and ~10% dividend growth through at least 2026, with a focus on delivering results at the top of ranges
- NextEra Energy reported 9.7% y/y growth in Q3 adjusted EPS and 9.3% y/y growth in the first nine months; reaffirmed expectations for 2025–2027 adjusted EPS growth near the top of its range and ~10% annual dividend growth through 2026.
- Florida Power & Light’s Q3 EPS rose $0.08 y/y on 8% regulatory capital growth, with $2.5 B of Q3 CapEx (FY guide: $9.3–$9.8 B), ~11.7% regulatory ROE, and retail sales weather-normalized +1.9% y/y.
- NextEra Energy Resources delivered 13% y/y adjusted earnings growth in Q3 (EPS +$0.06), added 3 GW to its development backlog (now ~30 GW), including a record 1.9 GW of battery storage, marking the sixth consecutive quarter of ≥3 GW additions.
- FPL’s proposed four-year rate settlement would invest ~$40 B in solar (5.3 GW), battery storage (3.4 GW) and gas peaking; allow a 10.95% midpoint ROE (9.95–11.95% range); maintain a 59.6% equity ratio; and cap residential bill increases at ~2% p.a. through 2029 (decision expected Nov 20).
- Entered a 25-year PPA with Google to recommission the 615 MW Duane Arnold nuclear plant by Q1 2029, acquiring the remaining 30% stake via decommissioning liability assumption; project to support Google’s cloud/AI hub, create 1,600 jobs and add >$9 B in local investment.
- NextEra Energy delivered Q3 adjusted EPS of +9.7% year-over-year and YTD EPS growth of 9.3%, driven by strong performance at Florida Power & Light and Energy Resources.
- Entered a 25-year PPA with Google to recommission the 615 MW Duane Arnold nuclear plant by Q1 2029, acquiring full ownership and expecting $0.16 of annual EPS accretion over its first 10 years.
- Florida Power & Light posted Q3 EPS up $0.08, with $2.5 billion of capex in the quarter (2025 guidance of $9.3–$9.8 billion), ROE ~11.7%, and weather-normalized retail sales +1.9% y/y.
- Energy Resources saw adjusted EPS up 13%, with +3 GW added to its backlog (now ~30 GW) including a record 1.9 GW of battery storage; 1.7 GW entered service in the quarter.
- Reaffirmed 2025–27 targets: aim for top-end of adjusted EPS ranges, operating cash flow growth ≥ EPS CAGR (2023–27), and ~10% annual dividend growth through 2026.
- NextEra Energy delivered strong third-quarter performance with $2.35 B adjusted earnings and $1.13 adjusted EPS, up 9.7% year-over-year.
- Florida Power & Light net income rose to $1,463 M and EPS to $0.71, an increase of $0.08 from Q3 2024.
- NextEra Energy Resources’ adjusted net income climbed to $1,102 M, with adjusted EPS up $0.06 to $0.53, driven by new renewable and storage investments.
- The company reaffirmed its guidance of 6–8% annual adjusted EPS growth through 2027 and ~10% annual dividend growth through at least 2026.
- NextEra Energy delivered strong third-quarter results with GAAP net income of $2.438 billion ( $1.18/share) and adjusted earnings of $2.348 billion ( $1.13/share), up from $1.852 billion ( $0.90/share) GAAP and $2.127 billion ( $1.03/share) adjusted in Q3 2024.
- Florida Power & Light reported Q3 net income of $1.463 billion ( $0.71/share), fueled by approximately $2.5 billion of capital expenditures and an ~8% increase in regulatory capital employed year-over-year.
- NextEra Energy Resources posted GAAP net income of $1.275 billion ( $0.62/share) and added 3 GW to its renewables and storage backlog—now nearly 30 GW—and entered a 25-year PPA with Google to recommission the 615 MW Duane Arnold nuclear plant.
- The company reaffirmed its 2025 adjusted EPS guidance of $3.45–$3.70, and expects 2026 and 2027 adjusted EPS of $3.63–$4.00 and $3.85–$4.32, respectively, while targeting ~10% annual dividend growth through at least 2026.
- NextEra Energy and Google signed a 25-year power purchase agreement for the 615 MW Duane Arnold Energy Center, targeting a restart by Q1 2029; NextEra will acquire the remaining 30% interest to reach 100% ownership of the plant.
- The restart is expected to create approximately 400 direct jobs and deliver over $9 billion in economic benefits to Iowa, with more than 1,600 construction jobs and over $340 million in annual economic output during operations.
- NextEra Energy and Google will explore development of new nuclear generation projects nationwide to support growing AI-driven energy demand.
- NextEra has executed nearly 3 GW of energy projects with Google across the U.S., reinforcing its role in meeting large-scale clean energy needs.
- NextEra Energy and Google will restart the 615 MW Duane Arnold nuclear plant in Iowa by 2029 under a 25-year agreement, supplying carbon-neutral power to Google’s AI infrastructure and creating approximately 400 full-time jobs.
- Google will purchase a portion of the plant’s output while Central Iowa Power Cooperative acquires the remainder on identical terms.
- Concurrently, Google, ADM, and Broadwing Energy are building a 400 MW+ natural gas plant with carbon capture in Decatur, Illinois, targeting commercial operation by early 2030.
- Both projects highlight collaboration between technology companies and the power industry to meet rising AI energy demands with sustainable solutions.
- Q3 revenue of €846 million, down 2.8% year-on-year, with adjusted EBITDA of €181 million (21.3% margin) vs. €210 million (24.1%) in Q3 2024.
- 9M 2025 adjusted EBITDA totaled €531 million (20.7% margin), compared to €641 million (24.3%) in 9M 2024, reflecting weaker demand in August–September.
- Net debt stood at €1,920 million at September 30, with a stable leverage ratio of 2.6x last-12-month adjusted EBITDA.
- 2025 outlook lowered: adjusted EBITDA now expected around €700 million (vs. ~€800 million) and free cash flow around €150 million (vs. >€200 million).
- SBTi validated Verallia’s Net Zero 2040 trajectory, committing to a 90% reduction in scope 1 & 2 emissions by 2040.
- On October 10, 2025, New Era Energy & Digital regained compliance with the Nasdaq Global Market’s minimum market value requirement under Listing Rule 5450(b)(2)(A), resolving a previously disclosed deficiency.
- The Nasdaq Hearings Panel meeting scheduled for October 16, 2025 was cancelled, and the company’s common stock will continue trading on Nasdaq under ticker NUAI.
- CEO E. Will Gray II noted this milestone reflects progress in stabilizing the business and advancing strategic initiatives to drive long-term shareholder value.
- U.S. renewable capacity is projected to grow from 429.55 GW in 2024 to 1,002.13 GW by 2033, implying a 3.64% CAGR from 2025 to 2033.
- Expansion is supported by federal and state incentives such as RPS, PTC, ITC and the Inflation Reduction Act, which improve project economics and investor confidence.
- Technological advances in solar PV efficiency, wind turbine design, and energy storage are driving cost reductions, making renewables more competitive with fossil fuels.
- Regionally, California leads in solar, Texas in wind, and New York prioritizes offshore wind under its Climate Leadership and Community Protection Act.