Consolidated earnings rose sharply, with meaningful hedge-related volatility
Net income attributable to NEE increased by $1.116B year over year to $3.144B for the three months ended June 30, 2026, while diluted EPS rose to $1.50 from $0.98. Favorable non-qualifying hedge activity was a major contributor, but management notes that these mark-to-market changes can create earnings volatility because the economic offsets are generally not marked to market under GAAP.
FPL benefited from rate-base growth and new retail base rates
FPL's 2026-Q2 net income increased $137M year over year to $1.412B. Its average rate base grew by approximately $6.8B, supported by solar, transmission and distribution investment, and new retail base rates added approximately $251M of revenue in the quarter; FPL earned an approximately 11.70% regulatory ROE on retail rate base as of June 30, 2026.
NEER growth included new projects, hedge gains and the absence of a prior-year impairment
NEER's 2026-Q2 net income rose $651M year over year to $1.634B. The increase included $179M from new investments and a $376M favorable change in non-qualifying hedge activity after tax; for the six-month period, results also benefited from the absence of the approximately $0.5B after-tax XPLR impairment recorded in 2025.