FPL Group’s Profits Rise – Analyst Blog
Zacks Market Commentaries (October 28th, 2009) Writes:
Energy company FPL Group Inc. (FPL) today reported adjusted net earnings of $1.38 per share for the third quarter of 2009, in line with the Zacks Consensus Estimate of $1.39 and above $1.25 reported last year. The improvement from last year’s results was due to positive contributions from FPL’s NextEra Energy Resources subsidiary, offset by a decline in customer base at the Florida Power & Light subsidiary.
Total revenue during the quarter declined to $4,473 million from $5,387 million a year ago. Revenue at Florida Power & Light Company declined 3.6% year-over-year to $3,301 million, primarily due to the economic challenges faced at Florida. NextEra Energy Resources’ revenue in the quarter was down 40.7% from last year at $1,136 million, due to unfavorable market conditions for the company’s fossil power plants in Texas and below normal wind resource across the fleet.
At Florida Power & Light ...


![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
