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Investing.com -- NextEra Energy, Inc. (NYSE:NEE) reported third-quarter adjusted earnings of $1.13 per share, exceeding analyst expectations of $1.02, while revenue came in at $7.97 billion, below the $8.17 billion consensus. The company’s shares rose 1.7% following the announcement.
The energy giant’s adjusted earnings increased 9.7% YoY from $1.03 per share in the same quarter last year. Despite the revenue miss, investors responded positively to the strong earnings growth and the company’s new collaboration with Google to revive nuclear energy operations.
"NextEra Energy delivered strong third-quarter results, with adjusted earnings per share increasing by 9.7% year-over-year," said John Ketchum, chairman, president and chief executive officer. "We believe the continued strong financial and operational performance at both FPL and NextEra Energy Resources positions us well to meet our overall objectives for the year."
The company’s Florida Power & Light (FPL) subsidiary reported net income of $1.46 billion, or $0.71 per share, up from $1.29 billion, or $0.63 per share, in the prior year. FPL’s growth was primarily driven by continued investment in the business, with regulatory capital employed increasing approximately 8% YoY.
NextEra Energy Resources, the company’s clean energy business, added 3 gigawatts to its project backlog during the quarter, bringing the total to nearly 30 gigawatts. The company also announced a significant collaboration with Google to recommission the 615-megawatt Duane Arnold nuclear plant in Iowa, expected to restart by early 2029.
NextEra Energy maintained its 2025 adjusted earnings guidance of $3.45 to $3.70 per share, and reaffirmed its 2026 and 2027 targets of $3.63 to $4.00 and $3.85 to $4.32 per share, respectively. The company also continues to expect dividend growth of approximately 10% annually through at least 2026.