Hot summer sends Duke profits soaring
The company earned $670 million, or 51 cents per share, up from $109 million, or 8 cents per share, during the same period a year prior. Revenue rose to $3.95 billion from $3.4 billion.
Analysts polled by Thomson Reuters expected 42 cents per share on $3.74 billion in revenue.
Looking ahead, the company boosted its full-year profit outlook to between $1.40 and $1.45 per share, from $1.30 to $1.35 per share. Analysts expect $1.34 per share.
"The key to Duke Energy's outstanding third quarter was the ability of our employees and our fleet to meet customers' energy demands during the summer's unrelenting heat," said James E. Rogers, chairman, president and CEO, in a statement.
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The findings may have major implications for consumer groups, large industrial companies, businesses, and homeowners in those regions, said the Wind-Solar Alliance, (WSA), which commissioned the Customer Focused and Clean report.
The WSA is a non-profit organisation supporting the growth of renewables. American Wind Energy Association CEO Tom Kiernan is listed as WSA secretary.
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