- Duke Energy (NYSE:DUK) reports lower than expected Q2 earnings and revenue, hurt by higher expenses in its U.S. regulated power business and weakness in its operations outside North America.
- DUK says Q2 adjusted income from its U.S. regulated power business, which accounts for ~90% of the company's total revenue, fell 8.3% to $632M, as higher retail volumes and warmer temperatures in the Carolinas were offset in part by higher expenses due to the timing of planned outages and a higher tax rate.
- Q2 adjusted income from DUK's businesses outside North America fell 64.4% to $52M, mainly due to lower demand for electricity in Brazil, a strong dollar and a favorable tax benefit in Chile a year ago.
- DUK reaffirms its full-year outlook for EPS of $4.55-$4.75.