FPL Group Earnings Call, Second Quarter 2008
1st August 2008 00:00 AM |
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| Net income dropped 48% as performance was impacted by higher forward prices for natural gas and power. |
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| The provider of electricity services reported net income of $209 million, or 52 cents per share, down 48.4% from $405 million, or $1.01 per share in 2007 as operating revenues dropped 9% to $3.585 billion compared to $3.929 billion for the prior quarter previous year. The firm has a great utility franchise favoured by great long-term demographic trends, and FPL Energy is positioned for a world increasingly focused on the urgent need to address climate change. |
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FPL Group First Quarter Earnings Call
15th May 2008 00:00 AM |
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| Earnings rose to $249 million, helped by strong results at its FPL energy unit. |
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| Adjusted earnings were 76 cents a share, up from 70 cents a share a year earlier. FPL Energy’s net income included a net unrealized after-tax loss of $56 million associated with the mark-to-market effect of non-qualifying hedges and OTTI. Customer growth in Florida Power & Light slowed because of economic conditions in Florida, especially those related to the housing market. FPL Group reaffirmed its target for 2008 adjusted earnings of $3.83 to $3.93 a share and $4.15 to $4.35 a share for 2009. |
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FPL Group Fourth Quarter Earnings Call
30th January 2008 00:00 AM |
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| Profit decreased 16% to $224 million, hit by losses from trading in energy markets. |
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| The wind power company’s revenue was $3.7 billion, failing to meet expectations of $3.9 billion. Items included an after-tax loss of $58 million for hedges. Adjusted earnings rose to 71 cents a share from 63 cents a share. In December the company received regulatory approval to implement extended power uprights at all four existing Florida nuclear units. FPL expects 2008 full-year adjusted earnings per share to be between $3.83 and $3.93, and 2009 earnings per share of $4.15 to $4.35. |
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FPL Group Third Quarter Earnings Call
18th November 2007 00:00 AM |
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| Profit rose 1% and is predicted the trend would extend through next year despite a drop in regional home building. |
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| The utility operator revenue fell to $4.58 billion from $4.69 billion, failing to meet the analyst estimates of $4.73 billion. The quarter included a $40 million gain related to the valuation of hedges, while the 2006 quarter included a similar gain of $74 million and a $7 million charge related to an acquisition. Retail power sales were up 3.5% compared with a year ago while the number of new accounts grew by 2%, in line with the company''s historical growth curve. |
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FPL Group Second Quarter Earnings Call
3rd October 2007 00:00 AM |
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| Earnings rose 72% to $405 million, or $1.01 a share, from $236 million, or 60 cents a share in 2006 despite unfavorable weather impacts. |
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| The energy company reported a 3% rise in revenues 3% from $3.81 billion in 2006 to $3.93 billion following a 27% growth in revenue from FPL Energy to $983 million. However, weather effects impacted the bottom line adversely amounting to over $50 million lower earnings. Despite these impacts, adjusted earnings per share grew by 30%. The firm has exclusive access to over 1 million acres of high wind potential land, approximating to 8,000 to 13,000 megawatts of capacity. |
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FPL Group First Quarter Earnings Call
21st June 2007 00:00 AM |
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| Quarterly operating revenues fell 14% to $3.075 billion, versus $3.584 billion in the year ago period. |
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| Power utility holding company FPL Group reported fall in its quarterly net income to $150 million, versus $251 million in the year ago period, due to a drop in revenue and a one-time charge of $126 million. The quarterly one-time charge related to energy-trading accounting. FPL Energy has over 500 megawatts of new wind projects under construction, which are expected to reach commercial operation by the end of the year and expected to add at least 1,500 megawatts in the 2007/2008 timeframe. |
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