FONT-SIZE Plus   Neg

Duke Energy Q1 Profit Drops - Quick Facts

Electric utility Duke Energy Corp. (DUK) reported a fall in first-quarter net income attributable to the company to $295 million or $0.22 per share from $511 million or $0.38 per share last year, with adjusted earnings per share declining to $0.38 from $0.39 in the prior-year quarter. On average, 9 analysts polled by Thomson Reuters expected earnings per share of $0.37 for the quarter. Analysts' estimates typically exclude one-time items.

Reported results for the latest quarter include pretax charges of around $420 million related to the company's Edwardsport Integrated Gasification Combined Cycle project, which have been excluded from adjusted earnings per share, the company said. These charges are the result of the provisions of a settlement agreement related to regulatory proceedings involving the project.

Quarterly operating revenues totaled $3.63 billion, compared with $3.66 billion a year earlier. Five analysts estimated revenues of $3.60 billion for the quarter.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Buick, Lexus and Toyota are among the top brands with highest reliability rating in the latest annual brand reliability survey. A New York woman has filed a $20 million lawsuit against Kentucky Fried Chicken, accusing the fast-food giant of 'false and deceptive trade practice' and also of misleading customers as she did not get enough chicken in her $20 "Fill-Up." Fans of Girl Scouts Cookies can rejoice. General Mills Inc. has confirmed its plans to launch two cereals inspired by Girl Scout cookies next year. The cereals will come in two flavors and in boxes carrying the Girl Scouts logo.
comments powered by Disqus
Follow RTT