NextEra Energy on Tuesday reported slightly better-than-expected fourth-quarter profit, supported by strong performance at its regulated Florida utility and record additions in renewable energy and battery storage.
The results come as U.S. power demand rises sharply, driven by growth in artificial intelligence, data centres and broader electrification across the economy.
The company’s Florida Power & Light unit posted net income of $958 million, up 13.4% from a year earlier, reflecting higher capital investment and steady customer growth.
Meanwhile, its renewable arm, NextEra Energy Resources, added about 13.5 gigawatts of new generation and storage projects to its backlog in 2025.
The renewable segment’s total backlog now stands at around 30 gigawatts, highlighting strong demand from large corporate clients seeking long-term power supply.
The unit reported a net income of $545 million for the quarter, compared with a loss of $442 million a year earlier.
NextEra said it expects U.S. electricity consumption to reach record levels by 2026, as data centres expand and households and businesses shift away from fossil fuels.
The company reaffirmed its 2026 adjusted earnings forecast of between $3.92 and $4.02 per share.
It also maintained its outlook for annual earnings growth of at least 8% through 2032, alongside dividend growth of about 10% per year through 2026.
For the quarter ended December 31, NextEra earned 54 cents per share on an adjusted basis, narrowly beating analysts’ estimate of 53 cents.