NextEra Energy Surpasses Profit Expectations Amid Surging AI-Driven Power Demand

NextEra Energy beats quarterly profit estimates on renewables growth, AI-driven power demand

July 23 (Reuters) - NextEra Energy (NEE.N), opens new tab beat Wall Street estimates for second-quarter adjusted profit on Wednesday, driven by strong performance in its renewables unit amid rising power demand from AI data centers and hyperscalers. Power consumption in the U.S. is expected to reach record highs in 2025 and 2026, according to the U.S. Energy Information Administration. This surge is fueled by growing electricity needs from AI and cryptocurrency data centers, as well as increasing electrification of homes and businesses. Florida Power & Light, the company's regulated utility, reported net income of $1.28 billion, up 4% from a year earlier. NextEra Energy Resources, NextEra's renewables arm, added about 3.2 gigawatts of new renewables and storage to its backlog during the quarter, including more than 1 gigawatt serving hyperscalers. The Florida-based company earned $1.05 per share on an adjusted basis, compared with analysts' average estimate of $1.01 per share, according to data compiled by LSEG. Reporting by Katha Kalia and Pooja Menon in Bengaluru; Editing by Tasim Zahid Our Standards: The Thomson Reuters Trust Principles., opens new tab

NextEra beats quarterly profit estimates on massive power demand

July 23 (Reuters) - NextEra Energy (NEE.N), opens new tab beat Wall Street estimates for second-quarter adjusted profit on Wednesday, boosted by robust growth in its renewables division amid soaring power demand from AI data centers and hyperscalers. Power consumption in the U.S. is expected to reach record highs in 2025 and 2026, according to the U.S. Energy Information Administration. This surge is fueled by growing electricity needs from AI and cryptocurrency data centers, as well as increasing electrification of homes and businesses. The S&P index tracking utilities (.SPLRCU), opens new tab also rose 3.5% in the quarter ended June 30. Florida Power & Light, the company's regulated utility, reported net income of $1.28 billion, up 4% from a year earlier. NextEra Energy Resources (NEER), the renewables arm, added about 3.2 gigawatts of new renewables and storage to its backlog during the quarter, including more than 1 gigawatt serving hyperscalers. The unit's backlog now totals about 30 gigawatts. NextEra, which operates solar, wind, natural gas, and nuclear energy centers, said in June that renewable energy is critical to meeting rapidly growing U.S. power demand, citing challenges in expanding natural gas capacity. NEER reported a net income of $983 million in the second-quarter, compared with $552 million a year ago. The company, which is the largest electric utility holding company by market capitalization, reported operating revenue of $6.70 billion, missing analysts' average estimate of $7.38 billion, according to data compiled by LSEG. NextEra also said it expects to grow its dividends per share at a roughly 10% rate per year through at least 2026. The Florida-based company earned $1.05 per share on an adjusted basis, compared with analysts' average estimate of $1.01 per share, according to data compiled by LSEG. Earlier this month, U.S. President Donald Trump issued an executive order to eliminate any preferential treatment for building wind and solar generation projects on federal lands. NextEra Chief Executive John Ketchum said most of the company's renewable energy backlog has permits for developing projects on federal lands. "Let's just see how it's actually applied in practice," Ketchum said on a conference call with analysts in reference to the executive order. Reporting by Katha Kalia and Pooja Menon in Bengaluru and Tim McLaughlin in Boston; Editing by Tasim Zahid and Franklin Paul Our Standards: The Thomson Reuters Trust Principles., opens new tab

NextEra Energy Tops Profit Estimates as AI Data Center Demand Booms, Though Revenue Misses

CEO John Ketchum said the company is doing so well that it would be disappointing if future results aren't at or above forecasts. Booming demand for electricity to power artificial intelligence data centers helped NextEra Energy (NEE) post a better-than-expected profit, though its revenue was short of forecasts. The alternative energy provider reported adjusted earnings per share of $1.05 for the second quarter, above the consensus of analysts surveyed by Visible Alpha. However, revenue came in at $6.7 billion, below the $7.27 billion analysts were looking for. Shares fell about 4% in recent trading. With Wednesday's losses, they've added roughly 4% since the start of the year. Revenue from the NextEnergy Resources unit jumped 16.4% year-over-year to $1.91 billion. The company said it added 3.2 gigawatts to its backlog for new renewable energy and storage origination, and it now has about 6 GW of projects in its backlog for use by technology and data center customers. It added that with its current operating portfolio and the buildout of its backlog, the division will have more than 10.5 GW for U.S. tech and data center users. Revenue at Florida Power and Light, the company's regulated utility and the largest U.S. electric utility, was up 7.3% to $4.71 billion. CEO John Ketchum said the company is "well positioned to continue delivering for our customers and shareholders and will be disappointed if we are not able to deliver financial results at or near the top of our adjusted earnings per share expectations ranges in each year through 2027." NextEra reiterated its adjusted EPS forecasts for fiscal 2025, 2026, and 2027.

NextEra beats quarterly profit estimates on massive power demand

NextEra Energy beat Wall Street estimates for second-quarter adjusted profit on Wednesday, boosted by robust growth in its renewables division amid soaring power demand from AI data centres and hyperscalers. Power consumption in the U.S. is expected to reach record highs in 2025 and 2026, according to the U.S. Energy Information Administration. This surge is fueled by growing electricity needs from AI and cryptocurrency data centres, as well as increasing electrification of homes and businesses. The S&P index tracking utilities also rose 3.5 per cent in the quarter ended June 30. Florida Power & Light, the company's regulated utility, reported net income of US$1.28 billion, up four per cent from a year earlier. NextEra Energy Resources (NEER), the renewables arm, added about 3.2 gigawatts of new renewables and storage to its backlog during the quarter, including more than 1 gigawatt serving hyperscalers. The unit's backlog now totals about 30 gigawatts. NextEra, which operates solar, wind, natural gas, and nuclear energy centres, said in June that renewable energy is critical to meeting rapidly growing U.S. power demand, citing challenges in expanding natural gas capacity. NEER reported a net income of US$983 million in the second-quarter, compared with US$552 million a year ago. The company, which is the largest electric utility holding company by market capitalization, reported operating revenue of US$6.70 billion, missing analysts' average estimate of US$7.38 billion, according to data compiled by LSEG. NextEra also said it expects to grow its dividends per share at a roughly ten per cent rate per year through at least 2026. The Florida-based company earned US$1.05 per share on an adjusted basis, compared with analysts' average estimate of US$1.01 per share, according to data compiled by LSEG. Earlier this month, U.S. President Donald Trump issued an executive order to eliminate any preferential treatment for building wind and solar generation projects on federal lands. NextEra Chief Executive John Ketchum said most of the company's renewable energy backlog has permits for developing projects on federal lands. "Let's just see how it's actually applied in practice," Ketchum said on a conference call with analysts in reference to the executive order. ---

NextEra Energy beats quarterly profit estimates on renewables growth, AI-driven power demand

(Reuters) -NextEra Energy beat Wall Street estimates for second-quarter adjusted profit on Wednesday, driven by strong performance in its renewables unit amid rising power demand from AI data centers and hyperscalers. Power consumption in the U.S. is expected to reach record highs in 2025 and 2026, according to the U.S. Energy Information Administration. This surge is fueled by growing electricity needs from AI and cryptocurrency data centers, as well as increasing electrification of homes and businesses. Florida Power & Light, the company's regulated utility, reported net income of $1.28 billion, up 4% from a year earlier. NextEra Energy Resources, NextEra's renewables arm, added about 3.2 gigawatts of new renewables and storage to its backlog during the quarter, including more than 1 gigawatt serving hyperscalers. The Florida-based company earned $1.05 per share on an adjusted basis, compared with analysts' average estimate of $1.01 per share, according to data compiled by LSEG. (Reporting by Katha Kalia and Pooja Menon in Bengaluru; Editing by Tasim Zahid)