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Duke Energy earnings rise in second quarter, and beat analysts’ estimates

Charlotte-based Duke Energy announced second-quarter profits Tuesday of $820 million compared to the $500 million of the same quarter of 2018 and above analysts’ estimates.
Charlotte-based Duke Energy announced second-quarter profits Tuesday of $820 million compared to the $500 million of the same quarter of 2018 and above analysts’ estimates.

Charlotte-based Duke Energy announced second-quarter profits Tuesday of $820 million compared to the $500 million of the same quarter of 2018 and above analysts’ estimates.

Earnings per share, not including some regulatory charges, were $1.12, compared to 93 cents a year earlier and over the 98-cent forecast of utilities analysts.

Revenue of $5.8 billion compared to $5.6 billion a year earlier.

“So far this year, we’ve grown earnings and increased our dividend. We remain on track to meet our commitments, and have reaffirmed our 2019 earnings guidance range and our long-term 4 to 6 percent earnings growth rate,” chairman and CEO Lynn Good said in a statement.

Rate increases and favorable timing of operations and maintenance expenses were primary drivers of the earnings improvement, Duke said.

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