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NextEra earnings pop 68% on utility, competitive energy gains

NextEra Energy's (NEE) Q3 earnings jumped 68% on gains at its utility and competitive-energy segments.

Earnings from Florida Power & Light, which accounts for most of NEE's revenue, rose 7.7% to $422M; NEE says it has been boosting investment in Florida Power to improve reliability, reduce emissions and lower fuel costs.

Energy resources, NEE's competitive energy business, soared to $281M from $44M, driven by gains from new contract renewables projects.

Projects 2014 adjusted EPS of $5.05-$5.45 vs. $5.29 analyst consensus; continues to expect 2013 EPS in the upper half of its prior guidance of $4.70-$5 vs. $4.95 analyst consensus.

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