NextEra Energy (NEE) reported a rise in quarterly net income and adjusted earnings as the utility giant moves forward with a proposed combination with Dominion Energy.

The results come as the company shifts its long-term growth trajectory. The combined entity with Dominion Energy is expected to support 11% annual growth in regulatory capital employed and adjusted EPS growth of more than 9% through 2032. This represents an increase over the company's standalone adjusted EPS growth target of 8% or more through 2032.

Consolidated adjusted earnings per share rose 9.5% year-over-year to $1.15 in the second quarter, compared to $1.05 in the same period last year. Consolidated GAAP net income attributable to NextEra Energy rose to $3.144 billion from $2.028 billion in the prior-year quarter.

Florida Power & Light (FPL) reported net income of $1.412 billion, up from $1.275 billion in the second quarter of 2025. Regulatory capital employed at FPL grew approximately 9.3% year-over-year, an acceleration from the 8.8% growth reported in the first quarter. The utility added more than 90,000 customers during the quarter, a decrease from the nearly 100,000 customers added in the first quarter.

NextEra Energy Resources (NEER) adjusted earnings were $1.291 billion, compared to $1.091 billion in the second quarter of 2025. The company added 3.6 GW of new renewables and storage to its backlog, though this was down from the 4 GW added in the first quarter. Battery storage origination rose to 2 GW from 1.3 GW in the previous quarter, bringing the total NEER backlog to approximately 35.1 GW.

NextEra reiterated its 2026 adjusted EPS guidance range of $3.92 to $4.02 a share and is targeting the high end of that range.

The company announced a proposed combination with Dominion Energy on May 18, 2026, and filed formal merger applications in July. The transaction is expected to close in the second half of 2027.