UPDATE: Duke Energy Posts Upbeat Q2 Profit, Lifts Full-Year Forecast

Duke Energy DUK reported upbeat second-quarter profit and lifted its full-year profit outlook. Duke now expects full-year adjusted profit of $4.50 to $4.65 per share, versus its earlier forecast of $4.45 to $4.60 per share. The Charlotte, North Carolina-based company posted quarterly net income of $609 million, or $0.86 per share, versus $339 million, or $0.48 per share, in the year-ago period. The year-ago results included a write-off charge. Excluding items, the company's earnings climbed to $1.11 per share from $0.87 per share. Its operating revenue rose 1% to $5.95 billion. However, analysts were expecting earnings of $0.98 per share on revenue of $6.12 billion. Adjusted earnings from regulated utilities segment rose to $689 million from $590 million, while adjusted earnings from the international energy segment jumped to $146 million from $87 million. Adjusted earnings from commercial power segment came in at $16 million, versus a loss of $3 million. "Our strong second quarter performance and continued focus on operational excellence leaves us well-positioned to meet our financial objectives in 2014 and beyond. We are committed to maintaining affordable customer rates and to supporting the strength of our local communities, as evidenced by our recent agreement with the North Carolina Eastern Municipal Power Agency," said Lynn Good, president and CEO. Duke Energy shares rose 1.23% to $70.70 in pre-market trading.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsprofit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!