NextEra Energy’s net income attributable to shareholders jumped to $4.775 billion in the third quarter of 2026 from $2.438 billion a year earlier, an increase of $2.337 billion. For the first nine months, net income rose to $10.102 billion from $5.300 billion, up $4.802 billion.
Per-share earnings followed the same pattern. Diluted earnings per share were $2.28 in the quarter, up from $1.18, and $4.82 for the nine months, up from $2.57.
The company’s two main businesses both contributed to the gain. FPL posted third-quarter net income of $1.620 billion, up from $1.463 billion, and nine-month net income of $4.493 billion, up from $4.054 billion. NEER delivered $1.491 billion in third-quarter net income versus $1.275 billion a year ago, and $4.143 billion for the nine months versus $2.430 billion.
Corporate and Other swung sharply higher, reporting $1.664 billion of net income in the quarter versus a $300 million loss a year earlier, and $1.466 billion for the nine months versus a $1.184 billion loss.
On an adjusted basis, NextEra cited several items moving results. In the quarter, net gains associated with non-qualifying hedge activity were $2.246 billion, compared with $52 million in the prior-year period. For the nine months, those gains were $2.843 billion versus a $649 million loss. NEER also recorded $19 million of XPLR investment losses in the nine-month period, versus a $650 million loss a year earlier that included an impairment charge. Merger-related expenses in Corporate and Other totaled $19 million in the quarter and $50 million for the nine months.
FPL’s third-quarter net income increased by $157 million, and its nine-month net income rose by $439 million. The utility said its average rate base increased by about $6.8 billion in the quarter and $6.6 billion over nine months, driven by solar generation additions and transmission and distribution investment.
FPL’s operating revenues increased $136 million in the quarter and $599 million in the nine months. Retail base revenues rose $368 million in the quarter and $928 million in the nine months, including $281 million and $732 million, respectively, from new retail base rates under the 2025 rate agreement. Average customer accounts increased 1.4% in the quarter and 1.5% in the nine months, while average usage per retail customer rose 1.4% and 0.6%.
Those gains were partly offset by lower storm cost recovery revenues, which fell $452 million in the quarter and $1.009 billion in the nine months as surcharges tied to Hurricanes Debby, Helene and Milton ended. Fuel revenues increased $155 million in the quarter and $361 million in the nine months, and storm protection plan cost recovery clause revenues rose $153 million in the nine-month period.
FPL’s fuel, purchased power and interchange expense increased $153 million in the quarter and $343 million in the nine months, both tied to higher usage and higher recognition of previously deferred fuel costs. Depreciation and amortization expense fell $510 million in the quarter, mainly because amortization of deferred storm costs dropped by about $452 million after the storm surcharge program ended.
FPL reported a regulatory ROE of 11.80% on its retail rate base as of September 30, 2026, versus 11.70% a year earlier. The company also said the RSM reserve authorized under the 2025 rate agreement is up to about $1.5 billion after tax over the term of the agreement.
NextEra said its effective income tax rate was about 13% in the third quarter, compared with negative 13% a year earlier, and 1% for the nine months, compared with negative 32% last year. Following these announcements, the company's shares moved 0.88%, and are now trading at a price of $78.86. For the full picture, make sure to review NEXTERA ENERGY INC's 10-Q report.
