- 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.
More on Duke Energy Q4: Net profit jumps 58%
Feb 18 2014, 08:54 ET