Electric utility Duke Energy Corp. (DUK) posted a surge in first-quarter net income attributable to the company to $634 million, or $0.89 per share, from the year-ago quarter's $295 million, or $0.66 per share.
On an adjusted basis, earnings per share amounted to $1.02 for the recent quarter, reflecting the addition of earnings from Progress Energy, favorable weather and revised customer rates for Duke Energy Carolinas. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $1.04 for the quarter. Analysts' estimates typically exclude one-time items. The company said these drivers helped mitigate the impact of share dilution from the merger and less favorable results from the company's Commercial Power and International Energy units.
Total operating revenues of $5.90 billion in the quarter, were higher than $3.63 billion a year before, and beat consensus estimates of $5.74 billion.
For comments and feedback: editorial@rttnews.com