Nextera Energy, Inc. · NYSE:NEE
Nextera Energy — Q2 2025 Earnings Presentation
33 slides from Nextera Energy's earnings presentation, Jul 23, 2025
Slide 1: Second Quarter 2025 Earnings Conference Call
Second Quarter 2025 Earnings Conference Call July 23, 2025 NextEra Energy 1
Slide 2: Cautionary Statements and Risk Factors That May Affect Future Results
Cautionary Statements and Non-GAAP Financial Other Risk Factors That May Affect Information See Appendix for definition of Future Results This presentation refers to Adjusted Earnings, Adjusted This presentation includes certain financial measures that EBITDA and Adjusted EBITDA forward-looking stat
Slide 3: NextEra Energy delivered strong second quarter results growing adjusted EPS more than 9%
NextEra Energy delivered strong second quarter results growing adjusted earnings per share more than 9% year-over-year NextEra Energy Results – Second Quarter Adjusted Earnings Adjusted EPS ($ MM) $2,164 $1.05 $1,968 $0.96 2024 2025 2024 2025 NextEra Energy 3
Slide 4: After decades of stagnant electricity demand, we're now seeing growth across sectors
After decades of stagnant electricity demand, we’re now seeing growth across sectors Electricity Demand1,2,3 Expected Deployment Timelines by Estimated Costs of Firmed Generation (TWh) Generation Type Resources, 20304 $/MWh 8,000 New 7,500 Today 2030 2035 2040+ $25–$50 Least cost Onshore Wind5 7,000
Slide 5: NextEra Energy is powered by two industry-leading companies, strengthened by a common platform
NextEra Energy is powered by two industry-leading companies, strengthened by a common platform ~$241 B Enterprise Value1 ~75 GW in Operations2 Leading North American Largest electric utility energy infrastructure in the U.S. company Renewables and Storage Power Delivery & Transmission Market Knowled
Slide 6: FPL's earnings per share increased 2 cents from the prior-year comparable quarter
FPL’s earnings per share increased 2 cents from the prior-year comparable quarter FPL Results – Second Quarter Net Income EPS ($ MM) $1,232 $1,275 $0.62 $0.60 2024 2025 2024 2025 NextEra Energy 6
Slide 7: FPL continues to focus on making smart capital investments that keep bills as low as possible
FPL continues to focus on making smart capital investments that keep bills as low as possible while delivering reliable electricity FPL EPS Contribution Drivers EPS Growth Regulatory Capital Employed1 ($ B) Second ~7.9% Quarter Growth $72.9 FPL – 2024 EPS $0.60 $67.6 Drivers: New investments $0.04 O
Slide 8: Florida's economy remains healthy, and FPL's retail sales continue to see positive impacts
Florida’s economy remains healthy, and FPL’s retail sales continue to see positive impacts from strong customer growth Florida Economy & Customer Characteristics Retail kWh Sales (Change vs. prior-year) Customer Growth1,2 (Change vs. prior-year quarter; 000s) Second Vero 140 Impact Quarter 120 102.4
Slide 9: NextEra Energy Resources reports strong adjusted EPS, up 11 cents
NextEra Energy Resources’ reports strong adjusted earnings per share which increased 11 cents from the prior-year comparable quarter NextEra Energy Resources Results1 – Second Quarter GAAP Adjusted Net Income EPS Net Income EPS ($ MM) ($ MM) $1,091 $0.53 $983 $0.48 $865 $0.42 $552 $0.27 2024 2025 20
Slide 10: NextEra Energy Resources' growth was driven by new additions to power generation and storage
NextEra Energy Resources’ growth was driven by new additions to our power generation and storage portfolio NextEra Energy Resources Second Quarter 2025 Adjusted EPS1 Contribution Drivers $0.06 ($0.07) $0.14 ($0.02) $0.53 $0.42 Q2 2024 New Existing Customer Other Q2 2025 Adjusted EPS Investment Clean
Slide 11: NextEra Energy Resources added 3.2 GW to the backlog
NextEra Energy Resources had a strong quarter of new renewables and storage origination, adding 3.2 GW to the backlog NextEra Energy Resources Development Program1 3.2 GW of new renewable and 2024–2025 2024–2025 2026–2027 2026–2027 2024–2027 storage added to the backlog COD & Backlog Expectations Ba
Slide 12: NextEra Energy's adjusted earnings per share increased over 9% year-over-year
NextEra Energy’s adjusted earnings per share increased over 9% year-over-year NextEra Energy EPS Summary – Second Quarter GAAP Q2 2024 Q2 2025 Change FPL $0.60 $0.62 $0.02 NextEra Energy Resources $0.27 $0.48 $0.21 Corporate and Other ($0.08) ($0.12) ($0.04) Total $0.79 $0.98 $0.19 Adjusted Q2 2024
Slide 13: NextEra Energy remains well positioned to continue strong adjusted EPS growth
NextEra Energy remains well positioned to continue our strong adjusted earnings per share growth NextEra Energy’s Financial Expectations1 6%–8% off 2024 adjusted EPS range2 $3.85– $4.32 • Expect 6 to 8% annual growth rate through $3.63– 2027, off the 2024 adjusted EPS $4.00 $3.45– expectations range
Slide 14: Q&A Session
Q&A Session NeExTera’ ENERGY
Slide 15: Appendix
Appendix NeExTera’ ENERGY
Slide 16: NextEra Energy is well positioned to navigate the current interest rate environment
NextEra Energy is well positioned to navigate the current interest rate environment Interest Rate Sensitivity Estimated Adjusted EPS Impact of +50 bps Interest Rate Increase1 2025 2026 2027 ($0.00)–($0.01) ($0.00)–($0.02) ($0.01)–($0.03) NextEra Energy’s notional interest rate hedges total nearly $3
Slide 17: Potential drivers of variability to consolidated NextEra Energy adjusted EPS
Potential drivers of variability to consolidated NextEra Energy adjusted EPS 2025 Potential Sources of Variability1 FPL Timing of investment ± $0.01–$0.02 Retail ROE (± 0.1% change) ± $0.015–$0.02 NextEra Energy Resources Wind resource2 (± 1% deviation) ± $0.005–$0.01 Asset reliability3 (± 1% EFOR)
Slide 18: NextEra Energy's credit metrics remain on track
NextEra Energy’s credit metrics remain on track NextEra Energy Credit Metrics1 S&P A- Range Downgrade Threshold Actual 2024 Target 2025 FFO/Debt 13%–23% 18% 19.3% >18% Moody’s Baa Range Downgrade Threshold Actual 2024 Target 2025 CFO Pre-WC/Debt 13%–22% 17% 19.4% >17% Fitch A Midpoint Downgrade Thre
Slide 19: NextEra Energy Resources Projected 2025 Portfolio Financial Information
NextEra Energy Resources Projected 2025 Portfolio Financial Information (includes NEER’s share of partially owned assets; $MM) Value of pre-tax tax credits Pre-Tax Remaining Adjusted EBITDA1 included in adjusted EBITDA2 Debt Service3 Other4 Cash Flows5 Contract Life6 New Clean Energy Assets7 $1,700–
Slide 20: NextEra Energy Resources Wind Production Index
NextEra Energy Resources Wind Production Index1,2 2024 2025 2ND QTR 3RD QTR 4TH QTR 1ST QTR 2ND QTR Location MW Apr May Jun QTR MW QTR MW QTR YE MW QTR MW Apr May Jun QTR YTD Midwest 5,788 118% 93% 113% 108% 5,788 92% 5,788 98% 99% 5,788 107% 5,788 105% 90% 95% 97% 103% West 5,774 100% 114% 110% 108
Slide 21: NextEra Energy Resources Renewables Development Program
NextEra Energy Resources Renewables Development Program1,2 Wind (GW) Solar (GW) Storage (GW) Region 2024–2025 2026–2027 Region 2024–2025 2026–2027 Region 2024–2025 2026–2027 Northeast 0.0 0.0 Northeast 0.4 0.3 Northeast 0.0 0.0 Southeast 0.0 0.0 Southeast 2.4 2.7 Southeast 0.0 0.8 Midwest 1.7 1.5 Mi
Slide 22: Non-Qualifying Hedges - Summary of Activity
Non-Qualifying Hedges1 - Summary of Activity ($ millions, after-tax) Asset/(Liability) Balance as of 03/31/252 ($1,161) Primary Drivers: Electricity Related Positions ($262) Amounts Realized During 2nd Quarter 92 Other – Net (137) Change in Forward Prices (all positions) (281) Interest Rate Hedges (
Slide 23: Non-Qualifying Hedges - Summary of Second Quarter Activity
Non-Qualifying Hedges1 - Summary of Second Quarter Activity ($ millions) 2nd Quarter Asset / (Liability) Amounts Change in Total NQH Asset / (Liability) Description Balance 03/31/252 Realized Forward Prices Gain / (Loss) Balance 6/30/25 Pretax amounts at share Electricity related positions $ (537) $
Slide 24: Non-Qualifying Hedges - Summary of Year-to-Date Activity
Non-Qualifying Hedges1 - Summary of Year-to-Date Activity ($ millions) Year-to-Date Asset / (Liability) Amounts Change in Total NQH Asset / (Liability) Description Balance 12/31/242 Realized Forward Prices Gain / (Loss) Balance 6/30/25 Pretax amounts at share Electricity related positions $ (855) $
Slide 25: Non-Qualifying Hedges - Summary of Forward Maturity
Non-Qualifying Hedges1,2 - Summary of Forward Maturity ($ millions) Asset / (Liability) Description 2025 2026 2027 2028 2029–2050 Total 2025–2050 Balance 6/30/25 Pretax amounts at share Electricity related positions $ (747) $ 82 $ 162 $ 113 $ 77 $ 313 $ 747 Upstream related positions (720) 117 290 1
Slide 26: Reconciliation of GAAP Net Income to Adjusted Earnings (Q2 2025)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Three Months Ended June 30, 2025) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 1,275 $ 983 $ (230)
Slide 27: Reconciliation of GAAP Net Income to Adjusted Earnings (Q2 2024)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Three Months Ended June 30, 2024) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 1,232 $ 552 $ (162)
Slide 28: Reconciliation of GAAP Net Income to Adjusted Earnings (Six Months 2025)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Six Months Ended June 30, 2025) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $2,591 $ 1,155 $ (884)
Slide 29: Reconciliation of GAAP Net Income to Adjusted Earnings (Six Months 2024)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Six Months Ended June 30, 2024) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 2,404 $ 1,518 $ (32)
Slide 30: Reconciliation of GAAP Net Income to Adjusted Earnings (Twelve Months 2024)
Reconciliation of GAAP Net Income to Adjusted Earnings Attributable to NextEra Energy, Inc. (Twelve Months Ended December 31, 2024) Energy Corporate NextEra (millions, except per share amounts) FPL Resources & Other Energy, Inc. Net Income (Loss) Attributable to NextEra Energy, Inc. $ 4,543 $ 2,299
Slide 31: Definitional information
Definitional information NextEra Energy, Inc. Adjusted Earnings Expectations NextEra Energy Resources, LLC. NextEra Energy Resources, LLC. (including subsidiaries as applicable) Adjusted EBITDA Adjusted EBITDA by Asset Category This presentation refers to adjusted earnings per share Adjusted EBITDA
Slide 32: Cautionary Statement And Risk Factors That May Affect Future Results
Cautionary Statement And Risk Factors That May Affect Future Results This presentation contains “forward-looking are subject to risks and uncertainties that could to environmental laws, regulations and other negotiation of project development agreements, statements” within the meaning of the safe ca
Slide 33: Cautionary Statement And Risk Factors That May Affect Future Results (cont.)
Cautionary Statement And Risk Factors That May Affect Future Results (cont.) risk of increased operating costs resulting from limited liquidity in over-the-counter markets; ability to fund its liquidity and capital needs and sole discretion of NextEra Energy's board of unfavorable supply costs neces