NextEra Energy beats quarterly profit estimates on renewables growth, AI-driven power demand
Power consumption in the U.S. is expected to reach record highs in 2025 and 2026, according to the U.S. Energy Information Administration.
This surge is fueled by growing electricity needs from AI and cryptocurrency data centers, as well as increasing electrification of homes and businesses.
Florida Power & Light, the company's regulated utility, reported net income of $1.28 billion, up 4% from a year earlier.
NextEra Energy Resources, NextEra's renewables arm, added about 3.2 gigawatts of new renewables and storage to its backlog during the quarter, including more than 1 gigawatt serving hyperscalers.
The Florida-based company earned $1.05 per share on an adjusted basis, compared with analysts' average estimate of $1.01 per share, according to data compiled by LSEG.
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