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NextEra Energy Q3 earnings rise 9.7% as Dominion merger moves toward 2027 close

NextEra Energy reported third-quarter earnings of $2.592 billion, up 9.7% year over year, as shareholders of both companies approved the merger that would create the largest electric utility in the United States. NextEra Energy Resources added 3.7 gigawatts to its clean energy backlog - two-thirds of it battery storage - bringing the backlog to 36.7 gigawatts.

By Greener Numbers Editorial Team · Published October 22, 2026 · Updated 10/22/2026

NextEra Energy recorded a 9.7% increase in net earnings in the third quarter of 2026, reporting $2.592 billion compared with $2.348 billion in Q3 2025, according to its October 21 earnings call. Net income reached $4.775 billion, up from $2.438 billion a year earlier, and earnings per share rose to $2.28 from $1.18.

Florida Power & Light contributed third-quarter net income of $1.62 billion, up from $1.463 billion in Q3 2025. CEO Robert Ketchum praised crews who restored power after Hurricane Isaias hit Northwest Florida. NextEra Energy Resources reported Q3 income of $1.491 billion, up from $1.275 billion, and added 3.7 gigawatts of new clean energy capacity to its backlog, of which 2.4 gigawatts - roughly 65% - were battery energy storage systems. The renewables backlog now stands at about 36.7 gigawatts.

On the proposed merger with Dominion Energy, shareholders of both companies granted approval on September 3. The combined company would be the largest utility in the US. Ketchum announced measures aimed at Virginia ratepayers and the state economy: $100 million for Dominion's customer bill assistance program through 2038, doubling the residential bill credits scheme to four years, and an up-to-$5 billion Virginia supplier program over five years. Consumer groups including Secure Solar Futures and Clean Virginia have warned the merger could raise bills through a focus on large, centralized infrastructure.

State procedural schedules are set in Virginia and South Carolina for November and December, with final orders expected in January 2027. The North Carolina Utilities Commission has scheduled expert witness hearings beginning February 2027. The companies continue to expect the combination to close in the second half of 2027.

Official source: pv-tech.org ↗