NextEra Energy beats profit estimates on renewables strength, higher power demand

Published: 2026-04-23 10:03:46 ET NEE

Published on 04/23/2026 at 10:03 am EDT

April 23 (Reuters) - NextEra Energy beat Wall Street estimates for first-quarter adjusted profit on Thursday, helped by strong performance in its renewables business and increased power demand.

Power consumption in the U.S. is expected to set fresh records in 2026, according to the Energy Information Administration, as technology companies aggressively expand data centers for AI and cryptocurrency, while homes and businesses increasingly replace fossil fuels with electricity for heating and transportation.

Florida Power & Light (FPL), the company's regulated utility, posted a net income of $1.46 billion during the quarter ended March 31, up 11.1% from a year earlier.

NextEra earned $1.09 per share on an adjusted basis for the quarter, compared with analysts' average estimate of 96 cents per share, according to data compiled by LSEG.

(Reporting by Katha Kalia in Bengaluru; Editing by Jonathan Ananda)