Wood rebounded from a pair of bogeys on the back nine to boost his lead from 1 to 2 strokes with a nice 20-foot birdie on the 16th. He parred the last two holes of the day to preserve his 2-shot cushion over Robert Karlsson and Danny Willett at 8-under-par 205.
Karlsson had a big day, charging into a share of second place by carding a course record 9-under 62, ending at 6-under 207 along with Willet, who struggled to a 1-under 70 Saturday.
Luke Donald, the leader after two rounds, encountered problems in the third round, falling to a 1-over 72 and tumbling into fourth place at 5-under 208.
Meanwhile, defending European PGA tournament champion Paul Casey (72) and Padraig Harrington (72) ended the day among five players tied in fifth at minus-3.
Swim Week Miami Beach 2014 [PHOTOS]