| U.S. power company Duke Energy's profit, revenue miss estimates | |
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(Adds details, shares) Aug 6 (Reuters) - Duke Energy Corp reported lower-than-expected quarterly profit and revenue, hurt by higher expenses in its U.S. regulated power business and weakness in its operations outside North America. The largest U.S. power company by generation capacity said on Thursday that adjusted income from its U.S. regulated power business fell 8.3 percent to $632 million, mainly due to operations and maintenance expenses. The business accounts for about 90 percent of the company's total revenue. Duke sells power to 7.3 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky at rates set by state regulators. Adjusted income from the company's businesses outside North America fell 64.4 percent to $52 million, mainly due to low demand in Brazil, a strong dollar and a year-earlier favorable tax benefit in Chile. Net income attributable to Duke fell 11 percent to $543 million, or 78 cents per share, in the quarter ended June 30. Operations and maintenance expenses in the U.S. regulated power business hurt earnings by 11 cents per share, the company said. Excluding items, Duke earned 95 cents per share. Revenue fell 2 percent to $5.59 billion. Analysts on average had expected a profit of 99 cents per share and revenue of $5.78 billion, according to Thomson Reuters I/B/E/S. Duke shares closed at $73.98 on Wednesday on the New York Stock Exchange. (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Kirti Pandey)
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Duke Energy
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CODE : DUK |
ISIN : US26441C2044 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Duke Energy is a and oil producing company based in United states of america. Duke Energy is listed in United States of America. Its market capitalisation is US$ 67.5 billions as of today (€ 59.1 billions). Its stock quote reached its lowest recent point on May 02, 2003 at US$ 10.00, and its highest recent level on February 17, 2023 at US$ 99.99. Duke Energy has 700 299 523 shares outstanding. |