Skip to main content
Advertising

Originally published Friday, May 3, 2013 at 4:42 AM

  • Share:
           
  • Comments (0)
  • Print

Duke Energy 1Q earnings helped by weather, rates

Duke Energy says it earned $634 million in the first quarter, helped by more typical winter weather and higher electric rates.

The Associated Press

Most Popular Comments
Hide / Show comments
No comments have been posted to this article.
Start the conversation >

advertising

Duke Energy says it earned $634 million in the first quarter, helped by more typical winter weather and higher electric rates.

Duke posted earnings of 89 cents per share Friday on revenue of $5.90 billion. The company's results aren't comparable to last year because Duke hadn't completed its acquisition of Progress Energy.

Adjusted to remove merger costs and other one-time items, Duke earned $1.02 per share, a penny shy of analyst estimates.

Cooler temperatures during the first three months of the year increased demand for electricity compared with last year, which was the warmest winter on record in the U.S. Duke, based in Charlotte, N.C. also benefited from higher rates in North Carolina.

Lower wholesale power prices and higher costs at its international operations dragged earnings lower.

News where, when and how you want it

Email Icon

Love the column? Pre-order the book!

Love the column? Pre-order the book!

Reserve your copy of "The Seattle Sketcher," the long-awaited book by staff artist Gabriel Campanario, for the special price of just $29.95.

Advertising

Advertising

The Seattle Times Historical Archives

Browse our newspaper page archives from 1900-1984


Advertising
The Seattle Times

The door is closed, but it's not locked.

Take a minute to subscribe and continue to enjoy The Seattle Times for as little as 99 cents a week.

Subscription options ►

Already a subscriber?

We've got good news for you. Unlimited seattletimes.com content access is included with most subscriptions.

Subscriber login ►