Duke Energy Corporation has added a news release to its Investor Relations website. Title: Duke Energy Reports First-Quarter 2009 Results Date(s): 5/5/2009 7:03:00 AM
For a complete listing of our news releases, please click here
- First quarter 2009 adjusted diluted earnings per share (EPS) was 28 cents, compared with 35 cents for the first quarter 2008
- Reported diluted EPS for first quarter 2009 was 27 cents, compared to 37 cents for the first quarter 2008
- After first quarter, on track to achieve 2009 employee incentive target of $1.20 per share, based on adjusted diluted EPS
- Issued $1.65 billion of fixed-rate debt in the first quarter and continue to have strong access to capital markets
CHARLOTTE, N.C., May 5 /PRNewswire-FirstCall/ -- Duke Energy (NYSE: DUK) today announced first quarter 2009 adjusted diluted EPS of 28 cents, compared to 35 cents for first quarter 2008. Reported diluted EPS for the first quarter 2009 was 27 cents, compared to 37 cents for the same period last year.
The quarter's results were impacted primarily by two items - lower sales to the industrial customer class due to the continuing global recession, and increased operating and maintenance expense due to significant winter storms in the quarter.
"Despite the effects of the recession and storm-related expenses, our businesses remain fundamentally strong," said James E. Rogers, chairman, president and chief executive officer. "We can't control the weather or the economy so we're focused on issues we can control - managing our costs, improving operational performance, maintaining our liquidity, and making progress on our regulatory and legislative initiatives. After the first quarter, we are on track to achieve our 2009 employee incentive target of $1.20 per share on an adjusted diluted basis. But, of course, the third quarter is usually the most significant for our company."
"With our strong balance sheet, we maintain access to the capital markets, as demonstrated by the issuance of $1.65 billion of fixed-rate debt at an average rate of 6.1 percent during the first quarter of 2009," said David L. Hauser, group executive and chief financial officer. "We also expect tax incentive provisions from the federal stimulus package to generate approximately $400 million in positive cash flow in 2009, further strengthening our liquidity."
SOURCE Duke Energy
CONTACT: MEDIA: Tom Shiel, +1-704-382-2355 24-Hour: +1-704-382-8333 ANALYSTS: Bill Currens, +1-704-382-1603 Web Site: http://www.duke-energy.com
|