Stock Track | NextEra Energy Soars 6.53% on Q1 Profit Beat, Strong Renewables Growth and Data Center Pipeline

Stock Track04-24

NextEra Energy's stock soared 6.53% intraday on Thursday, driven by a combination of better-than-expected first-quarter earnings and positive business developments.

The U.S. utility reported adjusted earnings per share of $1.09 for the quarter, beating analyst estimates that ranged from 96 cents to $1.03. The strong performance was attributed to increased power demand and robust growth in its renewables and storage business, where it added a record 4 gigawatts to its project backlog.

Investors were further encouraged by the company's reaffirmed financial outlook, including its 2026 adjusted EPS guidance of $3.92 to $4.02 and its target for more than 8% annual earnings growth through 2032. Additionally, NextEra disclosed it is in advanced discussions for approximately 12 gigawatts of new capacity to serve large loads like data centers, with service potentially beginning by 2028, opening a significant new growth avenue.

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