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• Adjusted Earnings Per Share: Increased by nearly 9% year over year.

• FPL Earnings Per Share: Increased by $0.07 year over year.

• FPL Regulatory Capital Employed Growth: Approximately 8.1% year over year.

• FPL Capital Expenditures: Approximately $2.4 billion for the quarter.

• FPL Full Year Capital Investments: Expected to be between $8 billion and $8.8 billion.

• FPL Return on Equity: Approximately 11.6% for regulatory purposes.

• FPL Reserve Amortization: Utilized approximately $622 million, leaving a balance of roughly $274 million.

• FPL New Solar Capacity: 894 megawatts placed into service.

• FPL Retail Sales Growth: Increased by approximately 1.8% year over year.

• Energy Resources Adjusted Earnings Growth: Nearly 10% year over year.

• Energy Resources New Investments Contribution: Increased $0.12 per share year over year.

• Energy Resources Backlog: Totals roughly 28 gigawatts.

• Energy Resources New Renewables and Storage Originations: Approximately 3.2 gigawatts added to the backlog.

• Interest Rate Hedges: Nearly $37 billion in place, with a hedged risk-free rate at roughly 3.9%.

• Warning! GuruFocus has detected 9 Warning Signs with NEE.

Release Date: April 23, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• NextEra Energy Inc (NYSE:NEE) reported a nearly 9% year-over-year increase in adjusted earnings per share, indicating strong financial and operational performance.

• Florida Power & Light (FPL) placed into service 894 megawatts of new solar, contributing to a total of over 7.9 gigawatts of solar capacity, the largest utility solar portfolio in the U.S.

• Energy Resources originated approximately 3.2 gigawatts of new renewables and storage projects, marking strong demand for these technologies.

• NextEra Energy Inc (NYSE:NEE) has diversified its supply chain, reducing tariff exposure to less than $150 million on over $75 billion in expected capital spend.

• The company has nearly $37 billion of interest rate hedges in place, allowing flexible management of interest rate exposure over the coming years.

Negative Points

• The cost to build gas-fired plants has tripled in recent years, posing challenges for meeting future energy demand.

• There are significant challenges in reestablishing a skilled workforce for building complex power plants, leading to increased costs and construction delays.

• Gas turbines are in short supply and high demand, contributing to higher costs for gas-fired generation.

• Nuclear technology, such as SMR, is still 10 years away from being ready at scale and comes at a higher price point than gas-fired generation.

• There is a potential risk of project slippage beyond the current plan into 2028 and beyond due to the uncertain macro environment and complex contract discussions.