Tag Archives: fpl

FPL Group (FPL) Beats On EPS, Light In Revenue; Reaffirms Guidance

FPL Group (FPL) reported results that were about flat over the year ago quarter.  They beat on the EPS side by .07, reporting .94/share, but revenues were a bit lighter than what analysts expected at $3.58 billion.  All in all, a ho hum quarter and traders are selling the stock a bit today after the stock ran up over 10% in the past two months.   Increased demand for electricity at Florida Power & Light due … Read the rest

New Solar Installation by FPL (FPL) And Sunpower (SPWRA) Opens On Florida’s Space Coast

FPL just announced that its new FPL’s Space Coast Next Generation Solar Energy Center has opened at Kennedy Space Center. The 10 MW facility consists of about 35,000 SunPower solar PV panels. SunPower designed and built the installation for FPL and NASA, who worked as partners on the project. Over the life of the panels, the center is expected to reduce carbon dioxide emissions by 227,000 tons.

In a press release, FPL President and … Read the rest

FPL Group (FPL) Halts Streak Of Revenue Growth.. Blame It On El Nino

FPL Group (FPL) beat Wall St estimates this morning, posting .79/share, but the positives stop there.  Quarter over quarter revenue growth came to a halt for the the first time in a few years with a 12% decrease over the year ago quarter.  Earnings also decreased from the year ago quarter.. by 9%.

The company attributed some of the weakness to its NextEra unit which was hit by the extension of a planned outage … Read the rest

Wells Fargo (WFC) Upgraded FPL Group (FPL) To Outperform

FPL Group (FPL), the largest producer of solar and wind power in the US, got a Wells Fargo upgrade today from Market Perform to Outperform.  Hat tip to StreetInsider.com for the following analyst comment:

“We believe shares deserve a premium valuation given a comparatively strong EPS growth and credit profile and below average earnings variability due to lower commodity price sensitivity…We project 5-year annual EPS growth of 7-8% (off a 2008 ongoing EPS base of … Read the rest

FPL Group (FPL) Missed Earning Estimates & Guided Lower

The nation’s largest provider of renewable energy power disappointed investors this morning by missing analyst estimates and guiding lower for this year and next.  FPL Group (FPL) reported a non GAAP EPS of 1.38/share, missing estimates by .03.  Revenues were disappointing as well coming in at $4.47 billion which was a 17% decline from the year ago quarter.  To make matters worse, the company is lowering guidance.  For 2009, the company now expects an EPS … Read the rest

FPl Group Subsidiary (FPL) To Buy Babcock & Brown Wind Farms

FPL subsidiary NextEra Energy Resources just announced that it is in the process of purchasing 3 wind farms from Babcock and Brown. Together, the wind projects are capable of producing 184.5 megawatts of power.

Per the agreement, which still needs regulatory approval, NextEra will pay something along the lines of $352 million for the following wind farms:

Majestic Wind Energy Center, a 79.5 MW wind farm located in Carson County, Texas, that sells power to … Read the rest

FPL Group (FPL) And Duke Energy (DUK) Announce New Year’s Resolution: Commitment To Plug-In Hybrid And Electric Vehicles

FPL Group and Duke Energy just made a public commitment to switch to plug-in hybrids or electric vehicles. The commitment period starts January 1, 2010.  The stated goal for both companies is to have all of their new company cars, trucks and fleet vehicles switched over by 2020.

This is big news: the commitment will create a demand for 10,000 new plug-in electric vehicles, and automakers who can meet that demand could claim a chunk … Read the rest

FPL Group (FPL) Reports Mixed Results; Strength In Clean Energy Division

FPL Group (FPL) which is the largest producer of solar and wind power in the US reported solid earnings this morning, driven by strength in its NextEra Energy Resources business (profits up 30%).

“Our earnings for the quarter were solid overall, with lower year-over-year earnings at Florida Power & Light Company more than offset by the performance of NextEra Energy Resources. While the Florida economy is quite challenging, we are delivering exceptional value to FPL … Read the rest

Florida Power and Light Company’s (FPL) Investments In Fuel Efficiency Pay Off Big-Time For Consumers

Here’s a win-win situation….FPL just announced that its investments in fuel efficiency at its power plants have helped trim its customers costs by almost $3 billion since 2002, and will save customers a cool billion per year starting in 2014. The investments have included converting older plants to burn natural gas instead of oil, and using more efficient technologies to produce energy from natural gas.

In a company press release, Marlene Santos, FPL vice … Read the rest

Clean Energy Ensures Future Growth, FPL Chairman (FPL) Tells Shareholders

Lew Hay, FPL Groups Chairman and CEO, advised FPL shareholders at the company’s annual meeting that FPL’s investments in alternative energy will pay off in continued growth. FPL’s investment in clean energy sources like wind power and solar power are not only good for the environment, they are also good for the company’s bottom line-especially if the government starts taxing carbon emissions. Here are some quotes from the meeting, from Solar Energy News:

“FPL Group … Read the rest