NEE · NextEra Energy, Inc. Series N J

NextEra Energy delivered robust Q1 2026 results, with adjusted EPS rising 10% year-over-year to $1.09, driven by strong contributions from both regulated and contracted segments. FPL's net income increased to $1.462 billion from $1.316 billion, fueled by smart capital investments of $3.2 billion in the quarter and full-year expectations of $12-13 billion, alongside 8.8% growth in regulatory capital employed. This supported customer growth of nearly 100,000 while maintaining bills 30% below the national average. FPL expanded its solar portfolio to over 8.5 GW with 600 MW added and outlined a 10-year plan for 4 GW gas, 12 GW solar, and 7 GW storage. NextEra Energy Resources achieved record origination, adding 4 GW to backlog (1.3 GW battery storage), reaching 33 GW total, with adjusted earnings up to $1.038 billion. Key wins include U.S. Department of Commerce selection for 9.5 GW gas-fired projects tied to Japan's $550 billion U.S. investment. CEO John Ketchum highlighted balanced growth across 49 states and 12 growth avenues. Guidance remains firm at $3.92-$4.02 adjusted EPS for 2026 (targeting high end), 8%+ CAGR through 2035 off $3.71 2025 base, with dividends growing ~10% through 2026 then 6% through 2028. Adjusted earnings exclude non-qualifying hedges, investment gains, and nuclear fund unrealized changes, providing a clearer view of core performance amid rising U.S. electricity demand.