More on Duke Energy Q4: Net profit jumps 58%

Duke Energy (DUK): Net profit rose 58% to $688M as the company's regulated utilities and international operations grew strongly.

Duke achieved lower costs through synergies from the 2012 merger with Progress Energy and recovered infrastructure expenses through higher customer rates.

Regulated utilities adjusted income +22% to $607M; international energy +21% to $108M; commercial power adjusted loss $3M vs break-even a year earlier.

Forecasts 2014 adjusted EPS of $4.45-4.60 vs consensus of $4.57. (PR)

Duke said yesterday that it plans to sell its Midwest commercial generation business, including holdings in 13 power plants, due to "volatile returns." As a result Duke will take a pretax impairment charge of $1-2B on its Q1 results. (PR)

Shares are flat.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs