NV Energy's 3Q Profit Rises 21 Percent

LAS VEGAS (AP) — NV Energy Inc., which owns Nevada power generating companies, said Monday its third-quarter earnings rose 21 percent on higher revenue and lower fuel costs.

Net income climbed to $182.6 million, or 78 cents per share, compared with $150.8 million, or 64 cents per share, in the year-earlier period.

Analysts polled by Thomson Reuters expected, on average, earnings per share of 74 cents.

Revenue increased 9 percent to $1.22 billion from $1.12 billion.

The cost of fuel for power generation declined to $250.1 million from $332.9 million.

Shares of NV Energy, which owns Nevada Power Co. and Sierra Pacific Power Co., fell 1 cent to $11.27 in early afternoon trading.