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FPL Group (NYSE: FPL) $51.28. Today announced 2009 first quarter net income on a GAAP basis of $364 million, or $0.90 per share, compared with $249 million, or $0.62 per share, in the first quarter of 2008. On an adjusted basis, FPL Group’s earnings were $364 million, or $0.90 per share, compared with $305 million, or $0.76 per share, in the first quarter of 2008. Adjusted earnings exclude the mark-to-market effects of non-qualifying hedges and the net effect of other than temporary impairments (OTTI) on certain investments, both of which relate to NextEra Energy Resources.
What They Do: FPL Group is a leading clean energy company with 2008 revenues of more than $16 billion, approximately 39,000 megawatts of generating capacity, and more than 15,000 employees in 27 states and Canada.
Bristol-Myers Squibb Company (NYSE: BMY) $20.54. Today announced first quarter results which included excellent financial performance and successful execution of two key strategic initiatives. The company also reaffirmed guidance for the year.
Bristol-Myers Squibb posted first quarter 2009 net sales from continuing operations of $5.0 billion, an increase of 3%, or 8% excluding foreign exchange impact, compared to the same period in 2008.
BioPharmaceuticals net sales totaled $4.3 billion and sales from Mead Johnson Nutrition Company totaled $693 million in the first quarter of 2009, representing an increase of 3% and a decrease of 1%, respectively, compared to 2008.
The company reported first quarter net earnings from continuing operations attributable to the shareholders of $638 million or $0.32 per diluted share, compared to $647 million or $0.32 per diluted share for the same period in 2008.
The company reported first quarter non-GAAP net earnings from continuing operations attributable to shareholders of $958 million or $0.48 per diluted share, compared to $788 million or $0.39 per diluted share for the same period in 2008. An overview of specified items is discussed under “Use of Non-GAAP Financial Information.”
What They Do: Bristol-Myers Squibb Company is a global biopharmaceutical company whose mission is to extend and enhance human life.
Coca-Cola Enterprises (NYSE: CCE) $15.13. Today announced first-quarter 2009 net income of $61 million, or 13 cents per diluted share. After adjusting for items affecting comparability, including restructuring charges, net income totaled $97 million, or 20 cents per diluted share. The following table reconciles reported and comparable earnings per share.
What They Do: Coca-Cola Enterprises Inc. is the world's largest marketer, distributor, and producer of bottle and can liquid nonalcoholic refreshment. CCE sells approximately 80 percent of The Coca-Cola Company's bottle and can volume in North America and is the sole licensed bottler for products of The Coca-Cola Company in Belgium, continental France, Great Britain, Luxembourg, Monaco, and the Netherlands.
Valero Energy Corporation (NYSE: VLO) $20.74. Today announced first quarter 2009 net income of $309 million, or $0.59 per share. This compares to first quarter 2008 net income of $261 million, or $0.48 per share, which included a pre-tax benefit of $101 million, or $0.12 per share, for an insurance recovery related to the first quarter 2007 fire at the McKee refinery.
What They Do: Valero Energy Corporation operates as a crude oil refining and marketing company. The company operates through two segments, Refining and Retail.
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