- FPL Energy achieves outstanding results
- Florida Power & Light Company’s results are impacted by economic slowdown in Florida
- FPL Group reaffirms adjusted earnings expectations of $3.83 to $3.93 per share in 2008 and $4.15 to $4.35 per share for 2009
FPL Group, Inc. (NYSE: FPL) today reported 2008 first quarter net income on a GAAP basis of $249 million, or $0.62 per share, compared with $150 million, or $0.38 per share, in the first quarter of 2007. FPL Group’s net income for the first quarter of 2008 included a net unrealized after-tax loss of $52 million associated with the mark-to-market effect of non-qualifying hedges and a $4 million after-tax loss related to other than temporary impairments on investments, or OTTI. The results for last year’s first quarter included a net unrealized after-tax loss of $127 million primarily associated with the mark-to-market effect of non-qualifying hedges.
Click here for full release |
