U.S.-based power producer NextEra Energy reported a net income of $2.02 billion in the second quarter (Q2) of the financial year (FY) 2025, a 24.98% year-over-year (YoY) increase from $1.62 billion.

NextEra’s earnings per share came in at $1.05, up from $0.96 in Q2 FY 2024. The company exceeded the analysts’ EPS expectations by $0.04. Investment gains drove the 9.4% YoY growth in EPS at subsidiaries NextEra Energy Resources and regulated capital growth at Florida Power and Light.

Total operating revenue for the quarter rose to $6.7 billion, rising 10.41% from $6.06 billion in Q2 2024.

Total operating expenses were $4.80 billion, including $1.184 billion for fuel and power purchases, $1.22 billion for operations and maintenance, $1.773 billion in depreciation and amortization, and $630 million in taxes other than income taxes. The company’s operating income stood at $1.91 billion for the quarter.

First Half 2025

For the six-month period ended June 30, 2025, NextEra Energy reported a net income attributable to shareholders of $2.86 billion, with an EPS of $1.39, down from $3.89 billion, with an EPS of $1.89.

Operating revenues for 1H 2025 rose 9.72% to $12.94 billion from $11.80billion in the same period last year. Total operating expenses increased to $8.83 billion from $8.20 billion during this period.

Outlook

Looking ahead, NextEra reaffirmed its full-year 2025 adjusted EPS guidance at $3.45 to $3.70. Forecasted EPS for 2026 and 2027 are $3.6 to $4 and $3.85 to $4.32, respectively.

The company expects to increase its dividend per share by approximately 10% annually through at least 2026.

Florida Power and Light

NextEra’s subsidiary FPL reported a net income of $1.27 billion, compared to $1.23 billion in Q2 FY 2024, representing a 3.49% increase. The company reported an EPS of $0.62, compared to $0.60 in the previous year.

FPL’s EPS remained the same as the expectations, rising by $0.02 YoY.

This growth was supported by approximately $2 billion in capital expenditure during the quarter. For the full year, FPL expects to invest between $8 billion and $8.8 billion.

FPL operates the largest gas-fired generation fleet in the U.S., along with four nuclear units, and is expanding its use of solar and storage assets to meet rising power demand from Florida’s growing population.

A four-year base rate plan is under review by the Florida Public Service Commission, with a technical hearing scheduled for next month and a decision expected in the fourth quarter. If approved, the plan would increase typical residential bills at an average annual rate of just 2.5% through 2029, keeping rates about 20% below projected national averages.

NextEra Energy Resources

NEER reported a net income of $983 million in Q2 FY25, compared to $552 million, a 78% YoY increase. The company’s EPS came in at $0.48, compared to $0.27 in the same period the previous year. It exceeded analyst expectations by $0.11. The adjusted earnings increased to $1.09 billion, up from $865 million in the same quarter the previous year, marking a 26.12% increase.

The company added 3.2 GW of new renewable energy and storage projects to its backlog in the quarter, including over 1 GW for hyperscaler customers. The total backlog now stands at nearly 30 GW, of which approximately 6 GW is allocated to data center and technology customers. Factoring in its operating assets and backlog, the company expects to serve more than 10.5 GW of clean energy to these clients across the U.S.

NEER also added 3.2 GW to its clean energy project backlog, including 1 GW serving hyperscalers. John Ketchum, Chairman, President, and CEO at NextEra, said, “This marks the sixth time in the past eight quarters that NextEra Energy Resources has added more than 3 GW to its backlog.”

In April this year, NextEra Energy reported operating revenue of $6.25 billion for the first quarter of 2025, a 9% year-over-year increase from $5.73 billion in Q1 2024. The revenue, however, fell short of analysts’ expectations by $384.23 million.