JUNO BEACH, Fla. (AP) — NextEra Energy Inc.'s second-quarter profit improved on strong performances by its utility and renewable energy businesses.
The company does not expect the second half of the year to be as strong as the first half but said that earnings for the year will come in at the upper end of its forecast.
NextEra shares rose 72 cents to $85.51 in midday trading. The stock hit $87.65 earlier in the session, an all-time high.
NextEra earned $610 million, or $1.44 per share. That compares with $607 million, or $1.45 per share, in the second quarter last year. Adjusting for special items, the company earned $1.46 per share.
Operating revenue increased to $3.83 billion from $3.67 billion.
Analysts polled by FactSet expected earnings of $1.29 per share on revenue of $3.89 billion.
NextEra, based in Juno Beach, Fla., owns the Florida Power & Light Co. and utility and renewable energy company NextEra Energy Resources. The company said that increased investments in Florida Power & Light paid off during the quarter with improved profitability and NextEra Energy Resources benefited from new assets.
NextEra now expects adjusted earnings per share for 2013 to be in the upper half of its previous range of $4.70 to $5.00. Analysts estimate $4.94 per share for the year.