NextEra Hits Record as Q1 Beat and Backlog Surge Draw Analyst Upgrades

Overview

• NextEra reported first‑quarter results Thursday that beat profit forecasts and missed on revenue, with adjusted EPS of $1.04 on $6.70 billion versus estimates for $0.97 and $7.27 billion.
• NextEra Energy Resources added 4 gigawatts of new wind, solar, and storage projects, lifting the development backlog to about 33 gigawatts.
• The company reaffirmed its 2026 adjusted EPS outlook of $3.92 to $4.02 per share and kept plans to raise its dividend about 10% annually through 2026, then about 6% a year through 2028.
• Shares set a new high after the report as BTIG raised its price target to $112 and Wells Fargo moved to $102, with both firms keeping bullish ratings.
• CEO John Ketchum said rising electricity use supports growth at Florida Power & Light and the renewables arm, and market data place NextEra’s value above $201 billion as the largest utility.