NextEra Energy (NEE) +2.1% in Tuesday’s trading, poised for its highest closing price in two years, after saying it is considering expanding its nuclear fleet to deliver electricity to data centers, and that it is in advanced discussions to power an additional 9 GW of the server warehouses.
NextEra (NEE) announced last year that it would restart its Duane Arnold nuclear power generating station in Iowa to serve Google data centers, and on its earnings conference call Tuesday, the company said it currently has the ability to add 6 GW of new nuclear technologies to serve data centers at its existing nuclear sites, and it is also considering greenfield sites to build advanced nuclear power.
CEO John Ketcham said NextEra (NEE) is offering large amounts of power for sale from its nuclear plants in Wisconsin and New Hampshire, which are both outside regulated utility frameworks, allowing the electricity to be sold to the highest bidder.
The company expects to make announcements this year involving large-load customers – often data centers – within the footprint of its regulated utility in Florida, the CEO also said.
NextEra (NEE) reported Q4 net income rose to $1.54B, or $0.73/share, from $1.2B, or $0.58/share, in the year-earlier quarter, with Q4 adjusted earnings of $0.54/share that beat Wall Street consensus estimates by a penny and revenues that rose 20% Y/Y to $6.5B but missed analyst expectations.
NextEra (NEE) reiterated guidance for FY 2026 adjusted EPS of $3.92-$4.02, and said it continues to expect compound annual growth in adjusted EPS of 8% or more annually through 2032, a trend it now expects to continue during 2032-35; the projections are all based on full-year 2025 adjusted earnings of $3.71/share.