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FPL 1Q Profit Up 53% On Mark-To-Market Gains; Demand Rises

DOW JONES NEWSWIRES FPL Group Inc. (FPL) reported a 53% jump in first-quarter earnings on mark-to-market gains at its generation business. The company also reported higher retail sales, a reversal from last year as demand slumped amid the recession at utilities nationwide. Earnings climbed to $556 million, or $1.36 a share, compared with $364 million, or 90 cents a share, a year earlier. The latest quarter included 42 cents in mark-to-market and other impacts related to NextEra Energy Resources, its power-generation business. Revenue fell 2.2% to $3.62 billion. Analysts' mean estimates were for earnings of 87 cents on revenue of $3.68 billion. Earnings jumped at Florida Power & Light on a 6.6% increase in retail energy sales as weather was colder than normal this winter in the Sunshine State. NextEra's earnings fell 14% excluding the gains. Shares of FPL, which reiterated its 2010 earnings forecast, closed Monday at $51.06 and were inactive premarket. -By Kevin Kingsbury; Dow Jones Newswires; 212-416-2354; kevin.kingsbury@dowjones.com

Stock News for F P L (FPL)
DateTimeHeadline
06/15/201020:36:48US Senators Propose Extending Renewable-Energy Grant Program
05/21/201017:08:50FPL Group Formally Changes Name To NextEra Energy
05/12/201017:27:12Energy Executives Endorse Kerry-Lieberman Climate Bill
04/30/201008:54:45FPL To Spend $2 Billion Improving Plants, Cut Work Force By 300
04/27/201008:42:48FPL 1Q Profit Up 53% On Mark-To-Market Gains; Demand Rises
04/26/201018:03:12Low Carbon Investments Tied To Dimming Fate Of Climate Bill
04/05/201014:43:16Utilities Sue US Government To Suspend Nuclear Waste Fee
03/23/201017:22:58US Wind Developers Struggle To Ink Power Contracts
03/10/201016:51:35DOE, Treasury: Smart Grid Grants To Be Tax Exempt
03/04/201013:32:35MARKET TALK: US Nuclear Buildout Needs Policy Certainty -FPL
02/11/201012:56:35NJ:Power Auction Price For PSE&G Territory Down 7.7% From '09
01/26/201008:38:05FPL Group 4Q Profit Falls 14% On Weakness At Generating Operations
12/16/200919:46:40PG&E, DTE Energy Sign 45-MW Contract For Biomass Power
12/03/200917:16:07FPL CEO: Gas Pipeline, Nuclear Project Hinge On Rate Case
11/19/200912:35:09Federal Regulators OK Florida Natural Gas Pipeline Project
11/16/200910:32:07STREET MOVES: UBS Hires Utilities Analyst
11/05/200919:13:02US Government Says Fast-Tracking 6 Calif Solar, Wind Farms

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