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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
07/29/201516:21:00First Trust Advisors L.P. Announces Portfolio Manager Call for...
07/20/201517:26:00First Trust New Opportunities MLP & Energy Fund Declares its...
06/22/201516:23:00First Trust New Opportunities MLP & Energy Fund Increases its...
05/20/201516:43:00First Trust New Opportunities MLP & Energy Fund Declares its...
04/30/201510:55:11First Trust New Opprtnts MLP & Engy Fd Given Buy Rating at Deutsche...
04/20/201517:10:00First Trust New Opportunities MLP & Energy Fund Declares its...
03/19/201516:53:00First Trust New Opportunities MLP & Energy Fund Increases its...
02/19/201516:49:00First Trust New Opportunities MLP & Energy Fund Declares its...
02/12/201516:28:00First Trust Advisors L.P. Announces Portfolio Manager Call for...
01/20/201516:44:00First Trust New Opportunities MLP & Energy Fund Declares its...
12/22/201416:58:00First Trust New Opportunities MLP & Energy Fund Declares its...
11/20/201416:38:00First Trust New Opportunities MLP & Energy Fund Declares its...
10/20/201416:30:00First Trust New Opportunities MLP & Energy Fund Declares its...
09/22/201416:45:00First Trust New Opportunities MLP & Energy Fund Declares its...
08/20/201416:28:00First Trust New Opportunities MLP & Energy Fund Declares its...

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