NextEra Energy Q3 2026: EPS beats, revenue misses, Dominion deal advances
As seen on the 24/7 Wall St. homepage on October 21, 2026.
Management held full-year adjusted EPS guidance at $3.92 to $4.02 and is targeting the high end, even with revenue missing expectations. The backlog reached roughly 36.7 GW of renewables and storage, with data center demand still pulling. Keep an eye on the stock as the Dominion Energy combination moves through state regulators.
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NextEra Energy posted adjusted earnings per share of $1.24 for the third quarter of 2026, beating expectations and extending its streak of consensus EPS beats to six consecutive quarters without a single miss.
Revenue of $8.09 billion grew year-over-year but came in short of expectations, and management attributed the shortfall to timing and mix factors rather than structural weakness. Full-year adjusted EPS guidance held firmly in the $3.92 to $4.02 range, explicitly targeting the high end.
NextEra Energy Resources added 3.7 GW of renewables and storage to its backlog during the quarter, lifting the total backlog further. Data center demand is the accelerant: the company is in active discussions on 30 potential large-load hubs, expects that number to reach 40 by year-end, and has signed agreements for three federal hub projects in Texas and Pennsylvania.
CEO John Ketchum reaffirmed that the company expects to grow adjusted EPS at a compound annual rate of 8% or better through 2032, and is targeting the same pace from 2032 through 2035, both measured off the 2025 base. That long runway of guided growth is unusual in the utility sector and is a key reason the stock commands investor attention beyond the quarterly numbers.
The pending combination with Dominion Energy is the other variable to track. Shareholders of both companies approved the transaction in September, and state and federal regulatory reviews are now underway. The companies still expect a close in the second half of 2027, though the Virginia, South Carolina, and North Carolina reviews carry real approval uncertainty.
Mentioned: NEE