This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NextEra Energy Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: NEE

In Florida, the early signs of economic recovery we witnessed in prior quarters appear to have slowed. After significant employment growth in late 2011, Florida's pace of job creation has slowed. The Florida unemployment rate in June was flat compared to May, but has dropped more than 2% since this time last year. Consumer confidence in Florida increased in June relative to last year, but declined versus the prior month. We saw an uptick in tourism taxable sales, which are now trending above the levels seen prior to the recession, and the housing market continues to show signs of modest improvement.

Notwithstanding the somewhat hesitant recovery, we continue to invest in the business to provide greater value for our customers and to keep our overall bills low. We are making major investments to modernize our generation fleet and increase our nuclear generation output to be more efficient, to reduce emissions and to drive down fuel costs for customers. Over the lives of these projects, we expect that fuel and other savings will more than offset the capital and operating costs of these projects.

At Energy Resources, our focus has been on executing the plans for our record backlog of renewables projects. All of our projects continue to proceed with no significant changes in the execution timeline.

As a result of the progress we have made in the first half of the year, our overall financial expectations remain about the same as we previously discussed. For 2012, we expect adjusted earnings per share to be in the range of $4.35 to $4.65, and for 2014, we continue to see a range of $5.05 to $5.65, subject to all the usual caveats we provide, including normal weather and operating conditions.

Let's now look at our results for the second quarter of 2012. I'll start with the results at FPL before moving on to Energy Resources and then the consolidated numbers. For the second quarter of 2012, FPL reported net income of $353 million or $0.85 per share, up $0.13 per share year-over-year. The principal driver of FPL's earnings growth was continued investment in the business. During the quarter, we invested roughly $1.1 billion of the approximately $4.1 billion that we expect to invest in the business in 2012, and regulatory capital employed, that is capital on which we are able to earn a return, grew 17.5% over the same quarter last year.

Read the rest of this transcript for free on

3 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs