NextEra Energy beats second-quarter profit estimates
NEE•Quarterly profit tops estimates
July 24 (Reuters) - NextEra Energy NEE.N beat Wall Street estimates for second-quarter adjusted profit on Friday, helped by strength in its renewables unit and increased power demand.
The company earned $1.15 per share on an adjusted basis for the quarter ended June 30, compared with analysts' average estimate of $1.11 per share, according to data compiled by LSEG.
Renewables and utility results support earnings
The Energy Information Administration expects U.S. power demand, which hit its second straight annual record high last year, to rise further in 2026 and 2027 due to rapid build-out of power-hungry data centers and electrification of technologies.
U.S. power companies like NextEra, one of the world's biggest energy developers, are tapping into record electricity demand from Big Tech's quickly proliferating data centers.
Florida Power & Light (FPL), the company's regulated utility, posted a net income of $1.41 billion, compared with $1.28 billion a year earlier.
The company's unit, NextEra Energy Resources (NEER), added about 3.6 gigawatts (GW) of new renewables and storage to its backlog. The unit's total backlog is now roughly 35.1 GW.
NEER quarterly net income rose to $1.63 billion from $983 million a year ago.
