NextEra Energy’s Q1 2025 financial results

- GAAP net income: $833 million, down from $2.27 billion in Q1 2024
- GAAP EPS: $0.40, down from $1.10
- Adjusted net income: $2.038 billion, up from $1.873 billion
- Adjusted EPS: $0.99, up from $0.91
- Adjusted EPS growth: nearly 9 percent year-over-year

Florida Power & Light (FPL)
- Net income: $1.316 billion, up from $1.172 billion
- Adjusted EPS: $0.64, up from $0.57
- Regulatory capital employed grew by 8.1 percent
- Capital expenditures for the quarter: $2.4 billion
- Full-year capex expected between $8 billion and $8.8 billion
- 894 megawatts of solar added, bringing the total to over 7.9 gigawatts
- Filed a four-year rate plan with proposed base rate adjustments beginning in 2026
- Filed a 10-year site plan projecting over 17 gigawatts of new solar and 7.6 gigawatts of battery storage by 2034

NextEra Energy Resources (NEER)
- GAAP net income: $172 million, down from $966 million
- Adjusted net income: $908 million, up from $828 million
- Adjusted EPS: $0.44, up from $0.40
- Added 3.2 gigawatts of new renewables and storage to its backlog, now totaling around 28 gigawatts

Corporate and other
- GAAP loss: $655 million
- Adjusted EPS: negative $0.09, compared to negative $0.06 a year ago
- Loss driven mainly by non-qualifying hedges and share dilution

Cash flow
- Operating cash flow: $2.77 billion, down from $3.08 billion
- Investing cash flow: negative $7.72 billion, up from negative $9.32 billion
- Financing cash flow: $6.1 billion, up from $5.04 billion

Balance sheet highlights
- Total assets: $194.3 billion, up from $190.1 billion at year-end 2024
- Long-term debt: $79.8 billion, up from $72.4 billion
- Cash and equivalents: $2.42 billion, up from $1.49 billion

Outlook
- 2025 adjusted EPS guidance remains at $3.45 to $3.70
- 2026 expected EPS: $3.63 to $4.00
- 2027 expected EPS: $3.85 to $4.32
- Dividend expected to grow around 10 percent annually through at least 2026