NextEra Energy profit up on higher usage, lower costs

July 26 Thu Jul 26, 2012 8:13am EDT

July 26 (Reuters) - NextEra Energy Inc, the largest renewable power company in the United States, posted a 5 percent increase in quarterly profit as usage at its main unit rose and costs fell.

Second-quarter profit rose to $607 million, or $1.45 per share, from $580 million, or $1.38 per share, a year earlier.

Excluding items, it earned $1.26 per share. Analysts on an average were expecting $1.16, according to Thomson Reuters I/B/E/S.

Operating revenue at the Juno Beach, Florida-based company fell 7 percent to $3.67 billion, compared with analysts' expectation of $3.92 billion. Costs dipped 13 percent to $2.65 billion.

Underlying usage at its unit, Florida Power & Light Co, grew 1.7 percent, NextEra said.

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