logo
Share SHARE
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
Fiat Chrysler Automobiles's US will focus on Jeep SUVs and Ram Pickups and plans to stop producing small passenger cars from early next year. The plan to stop Dart and Chrysler 200 production will be effective by first quarter of 2017. The new plans are expected to increase profit margins, as SUVs... Royal Bank of Canada got the highest ranking in overall customer satisfaction among the five biggest Canadian banks, according to the results of an annual survey released Thursday. The lender toppled Toronto-Dominion Bank, which had held the top spot for the past ten years. Ford Motor Co.(F) reported a profit for the second-quarter that declined 8.8 percent from last year, while total revenue increased about 6 percent. The company now sees risks challenging achieving 2016 guidance.
comments powered by Disqus
Follow RTT