Duke Energy Earnings Fall On Mild Weather

Duke Energy's fourth quarter earnings fell 33 percent as mild weather reduced demand for electricity.

Duke earned $288 million, or 22 cents per share, down from $427 million, or 32 cents per share, in the fourth quarter of 2010.

The year-earlier results were helped by a sale of a fiber optic company. This year, Duke incurred costs associated with its proposed merger with in-state rival Progress Energy.

Duke's earnings, adjusted to remove the effects of special items, rose 14 percent to 24 cents per share. Revenue was $3.37 billion. Analysts polled by FactSet expected earnings of 21 cents per share on revenue of $3.36 billion.

Results were helped by strong performance of its international operations.

For the full year, Duke Energy Corp. earned $1.71 billion on revenue of $14.53 billion.

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  • by hope Location: NC on Feb 16, 2012 at 05:20 PM
    Thanking God for the mild winter. People are hurting. Maybe Duke power won't require a gubment bail out to stay afloat. Does no one keep a rainy day fund anymore?
    • reply
      by Anonymous on Feb 16, 2012 at 06:27 PM in reply to hope
  • by Anonymous on Feb 16, 2012 at 04:34 PM
    Guess it's time to jack the rates up huh? Just making a profit isn't good enough anymore, you have to make more than you made last year or your shareholders will be mad.
  • by ncyankee Location: enc on Feb 16, 2012 at 09:53 AM
    dont't know why, just got my light bill yesterday, a whopping $281. something wrong here, had new roof, insulation, new windows, new heat pump, just 2yrs ago. and never saw a light bill like this. and they cry poor mouth..this is so wrong.
    • reply
      by Bob on Feb 16, 2012 at 12:56 PM in reply to ncyankee
      It's capitalism at work. Duke Energy is just trying to maximize their profit.

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