Florida Power & Light Profit Jumps 162% to $2.18B in Q1 2026

Florida Power & Light Company, a regulated electric utility serving Florida, reported net income of $2.18 billion for the quarter ending March 31, up 162% from $833 million in the same period last year. Diluted earnings per share climbed to $1.04 from $0.40 in the prior-year quarter. Read more earnings reports.

Operating expenses rose 18% to $4.75 billion for the three months ending March 31 from $4.03 billion a year earlier. Operating income slipped 2% to $2.21 billion from $2.26 billion in Q1 2025.

The company generated $2.61 billion in cash from operations during the quarter, down 6% from $2.77 billion in the same period last year. Cash from financing activities increased to $7.68 billion from $6.10 billion, while investing activities consumed $10.82 billion compared to $7.72 billion a year earlier.

Capital expenditures continued at a heavy pace. Property, plant and equipment on the balance sheet rose to $162.36 billion as of March 31 from $156.20 billion at the end of December 2025. Depreciation and amortization for the quarter totaled $1.37 billion, up 25% from $1.10 billion in Q1 2025.

Total assets expanded to $221.42 billion as of March 31 from $212.72 billion three months earlier. Long-term debt climbed to $93.95 billion from $89.56 billion as of December 31, 2025. Current liabilities increased to $25.57 billion from $22.82 billion over the same period.

Cash and cash equivalents fell to $2.00 billion as of March 31 from $2.81 billion at year-end 2025. Accounts receivable edged up to $4.13 billion from $4.02 billion, while inventory increased to $2.58 billion from $2.42 billion.

Stockholders' equity rose to $55.22 billion as of March 31 from $54.61 billion as of December 31, 2025. Retained earnings climbed to $35.98 billion from $35.10 billion. The company had 2.09 billion weighted average diluted shares outstanding for the quarter compared to 2.06 billion in the prior-year period.

Financial Summary