Duke Energy Beats 1Q Adjusted Profit Expectations
May 10 2021 - 7:42AM
Dow Jones News
By Micah Maidenberg
Duke Energy Corp. reported a higher profit for the first
quarter, though revenue was a bit under what analysts had predicted
for the company.
The utility on Monday said it earned $992 million in net income
for the quarter, up from $938 million for the same period last
year.
Profit tied to common shares ticked up to $1.25 from $1.24. The
company's adjusted profit was a penny higher for the latest period,
or $1.26 a share.
Total revenue increased to $6.15 billion from $5.95 billion.
Analysts expected Duke to report an adjusted profit of $1.21 a
share on $6.19 billion in revenue.
The company said its electric utility and infrastructure
division was helped along by higher rates and favorable comparisons
year over year due to weather issues.
The gas utilities and infrastructure unit "benefited from
customer growth, rate case contributions and rider programs," Duke
said.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
May 10, 2021 07:27 ET (11:27 GMT)
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