Updated: 2-NextEra Energy quarterly profits exceed expectations, reports smooth progress in deal with Dominion

Charts and more details added in paragraphs 2 to 6

Reuters, October 21 - NextEra Energy (NEE.N) reported third-quarter adjusted profit on Wednesday that exceeded Wall Street expectations, thanks to strong performance in its renewable energy business and growing electricity demand.

U.S. power companies are benefiting from a surge in demand, mainly driven by data centers focused on artificial intelligence as well as increased electricity use by households and businesses for heating and transportation.

“We are also continuing to move forward with the pending merger with Dominion Energy. The shareholders of both companies approved the deal in September, and review by state and federal regulators is progressing steadily,” CEO John Ketchum said in a statement.

The $66.8 billion acquisition is expected to be completed in the second half of 2027, after having faced intense scrutiny by regulators and elected officials.

NextEra's regulated utility, Florida Power & Light (FPL), reported net profit of $1.62 billion, up from $1.46 billion a year earlier.

The company’s subsidiary NextEra Energy Resources (NEER) added about 3.7 gigawatts (GW) of new renewable energy and storage capacity to its backlog. The total backlog at this subsidiary is now about 36.7 GW.

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NEER reported third-quarter net profit of $1.49 billion, up from $1.27 billion a year earlier.

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According to data compiled by LSEG, NextEra posted adjusted earnings per share of $1.24 for the quarter ended September 30, higher than the analyst average forecast of $1.18.

The company's share price rose 1% in premarket trading.

(To assist non-native English speakers, Reuters has automatically translated its reports into several other languages. Because automated translation may contain errors or lack needed context, Reuters does not guarantee the accuracy of the automated translation and provides it solely for convenience. Reuters accepts no liability for any damages or losses resulting from use of the automated translation feature.)