US NextEra Energy lifts Q3 2010 profit

(ADPnews) - Nov 1, 2010 - US power producer NextEra Energy Inc (NYSE:NEE) posted on Friday a GAAP net profit of USD 720 million (EUR 520m) for the third quarter of 2010, up from USD 533 million a year ago, and updated its full-year forecast.

The result translated into earnings per share of USD 1.74, compared to USD 1.31.

Adjusted net profit grew to USD 602 million from USD 562 million a year earlier.

Operating profit rose to USD 1.13 billion from USD 849 million.

Via its subsidiaries NextEra Energy Resources LLC and Florida Power & Light Company, NextEra Energy operates the nation's third largest nuclear power generation fleet and generates eco-friendly energy from wind and solar power projects.

Consolidated revenue stood at USD 4.69 billion, up from USD 4.47 billion in the third quarter of 2009. Of it, USD 1.528 billion came from the company's green energy unit NextEra Energy Resources, whose revenues grew from USD 1.136 billion, driven by its new wind projects, enhanced performance of existing assets and gains in the gas infrastructure business.

NextEra announced it projected earnings per share for the full year to be in the lower half of its earlier guidance of USD 4.25-4.65. The company sees adjusted earnings to remain flat in 2011 at USD 4.25 to USD 4.55. It reaffirmed its forecast for earnings growth of 5 to 7% on 2009 levels by 2014.

(USD 1 = EUR 0.723)

Choose your newsletter by Renewables Now. Join for free!