NextEra, FPL second quarter profits up

A conference call to discuss NextEra Energy's second quarter results begins at 9 a.m.

A conference call to discuss NextEra Energy’s second quarter results begins at 9 a.m.

NextEra Energy, Inc. (NYSE: NEE) today reported second-quarter 2016  profits of $777 million, or $1.67 per share, compared to $699 million, or $1.56 per share, in the second quarter of 2015.

Juno Beach-based NextEra Energy’s principal rate-regulated electric utility subsidiary, Florida Power & Light Company  reported second-quarter profits of $448 million, or 96 cents per share, compared to $435 million, or 97 cents per share, for the prior-year quarter.

A conference call with analysts  begins at 9 a.m. Go  to NextEraEnergy.com for the webcast.

FPL’s contribution to second-quarter adjusted earnings per share was roughly flat, down one cent versus the comparable prior-year period. Growth driven by continued investment in the business was offset by share dilution and a negative impact relating to the Florida Supreme Court’s decision to reverse the Florida Public Service Commission’s  approval of the company’s natural gas reserves program.

“NextEra Energy delivered another successful quarter of strong operational and financial results, highlighted by a seven percent increase in adjusted earnings per share versus the same period last year,” said Jim Robo, chairman and chief executive officer of NextEra Energy.

“At FPL, we had strong growth in the underlying business. Average regulatory capital employed grew 8.4 percent over the same quarter last year, reflecting our continuing commitment of investing new capital in the business to deliver even more value to our customers,” Robo  said.

NextEra Energy Resources was a significant driver of growth during the quarter, with strong contributions from new investments, Robo said. Looking forward, Energy Resources remains poised for another significant installation year and on track with major activities to support the delivery of approximately 2,500 megawatts of new contracted renewables projects in 2016.

 

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