Duke Profit Doubles as Cooler Weather Boosts Heat Demand
This article is for subscribers only.
Duke Energy Corp., the largest U.S. utility owner, said first-quarter profit more than doubled as cooler winter temperatures boosted demand for heating.
Net income increased to $634 million million, or 89 cents a share, from $295 million, or 66 cents, a year earlier, Charlotte, North Carolina-based Duke said in a statement today. Per-share profit was $1.02 excluding merger-related costs and quarterly adjustments to the value of hedges, one cent less than the average of 13 analysts’ estimates compiled by Bloomberg.