“We continue to expect FPL's average annual growth in regulatory capital employed to be roughly 9% over the four-year term of our current rate agreement.”

In context

“is the best utility in the world. I am so proud of what our team has accomplished, and it is extremely well positioned to continue to deliver exceptional value to both customers, shareholders and to the state. I wish John, Armando and the entire FPL team all the best in their future endeavors. And now let me turn the call over to Kirk for more details. Kirk Crews: Thank you, Eric, and good morning everyone. Let's now turn to the detailed results, beginning with FPL. For the fourth quarter of 2022, FPL reported net income of $763 million, or $0.38 per share, up $0.07 per share year-over-year. For the full-year 2022, FPL reported net income of $3.7 billion, or $1.87 per share, an increase of $0.24 per share versus 2021. Regulatory capital employed increased by approximately 11.4% for 2022. We continue to expect FPL's average annual growth in regulatory capital employed to be roughly 9% over the four-year term of our current rate agreement. FPL's capital expenditures were approximately $3.1 billion in the fourth quarter, bringing its full-year capital investments to a total of roughly $9.2 billion. For the fourth quarter, FPL's net income was impacted by a number of factors, including favorable weather as well as an approximately $40 million pre-tax contribution to charitable foundations that will allow us to continue to support the communities that we serve. For the full-year 2022, FPL's year-over-year net income growth of nearly $500 million was aided by favorable weather, increased customer growth, and effective cost management that supported our ability to continue to deploy smart capital for the benefit of customers. FPL's reported ROE for regulatory purposes is expected to be 11.74% for the twelve months ended December”