Staff Reports
NextEra Energy Inc., the parent of Florida Power & Light, reported fourth-quarter earnings of $966 million, or $2.06 per share.
The Juno Beach-based company said its adjusted earnings were $1.21 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The company posted revenue of $3.7 billion in the period.
For the year, NextEra reported a profit of $2.91 billion, or $6.25 per share. Revenue was reported as $16.16 billion.
FPL, the primary power provider in Manatee, Sarasota and Charlotte counties, reported earnings that were relatively flat during the final three months of 2016, when it had net income of $371 million, or 79 cents per share. That compared with $365 million, or 79 cents per share, during the fourth quarter of 2015.
NextEra expects full-year earnings of $6.35 to $6.85 per share.
The company shares have decreased nearly 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 3 percent. The stock has increased 11 percent in the last 12 months.
NextEra shares, which trade on the New York Stock Exchange, closed Friday at $121.37, up $2.62, or 2.2 percent.
