AI data center demand soared, boosting performance. New Era Energy (NEE.US) third-quarter profits exceeded expectations.

New Era Energy (NEE.US) reported adjusted profits for the third quarter that exceeded Wall Street expectations, with its renewable energy sector performing strongly due to the surge in data center electricity demand driven by the artificial intelligence boom. The company's financial report showed Q3 revenue of $79.7 billion, a 5.3% year-on-year increase, slightly below market expectations; adjusted earnings per share were $1.13, higher than the analysts' average estimate of $1.02. Net profit for the third quarter was $1.28 billion, higher than the $1.22 billion in the same period last year. According to data from the U.S. Energy Corp., electricity consumption is expected to reach historic highs in 2025 and 2026 due to the surge in demand for data centers powering artificial intelligence technologies. The company's regulated utility sector, Florida Power and Light Company, reported a net profit of $1.46 billion, a 13.2% year-on-year increase. New Era Energy's renewable energy sector, New Era Energy Resources, added approximately 3 gigawatts of new renewable energy and energy storage projects to its reserves this quarter. The total reserve of the sector has now reached around 30 gigawatts. On Monday, New Era Energy reached an agreement with Alphabet Inc. Class C to reopen the Duane Arnold nuclear power plant in Iowa, which was closed five years ago. With nuclear power being a reliable, sustainable, and carbon-neutral energy source, and the demand for electricity to power artificial intelligence in the tech industry, nuclear power is experiencing a resurgence in the United States after decades of stagnation. The U.S. Nuclear Regulatory Commission also approved the license renewal for the operation of two units at New Era Energy's Point Beach nuclear power plant in Wisconsin for an additional 20 years in September.