Duke Energy tops first-quarter profit estimates on higher rates

Duke Energy beat Wall Street estimates for first-quarter profit on Tuesday, as the utility benefited from higher rates and robust demand for electricity.“We have a clear path forward that will deliver sustainable value and 5 per cent to 7 per cent earnings growth over the next five years,” said CEO Lynn Good.

The rapid adoption of electric vehicles, artificial intelligence technology and data centres is expected to drive up electricity usage and boost earnings for utilities such as Duke.Duke provides electric services to about 8.4 million customers across the Carolinas, Florida, Indiana, Ohio and Kentucky.

The company reaffirmed its full-year adjusted profit forecast of $5.85 to $6.10 per share, compared with analysts’ expectations of $5.97 per share, according to LSEG data. The Charlotte, North Carolina-based utility posted an adjusted profit of $1.44 per share for the quarter, beating estimates of $1.38 per share, thanks to improved weather and favourable rate case impacts.

Regulated utilities use rate case proceedings to determine the amount that customers need to pay for the electricity, natural gas, private water, and steam services provided by them.Study and track financial data on any traded entity: click to open the full quote page. Data updated as of

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Duke Energy beats first-quarter profit estimates on higher ratesExplore stories from Atlantic Canada.
출처: SaltWire Network - 🏆 45. / 63 더 많은 것을 읽으십시오 »

Russia says it struck Ukrainian energy plants in response to Kyiv targeting its own energy sectorExplore stories from Atlantic Canada.
출처: SaltWire Network - 🏆 45. / 63 더 많은 것을 읽으십시오 »

N.L. government approves World Energy GH2 wind energy projectExplore stories from Atlantic Canada.
출처: SaltWire Network - 🏆 45. / 63 더 많은 것을 읽으십시오 »

N.L. government approves World Energy GH2 wind energy projectExplore stories from Atlantic Canada.
출처: SaltWire Network - 🏆 45. / 63 더 많은 것을 읽으십시오 »

World Energy GH2's massive Newfoundland wind energy project approved by environment ministerExplore stories from Atlantic Canada.
출처: SaltWire Network - 🏆 45. / 63 더 많은 것을 읽으십시오 »

Rob Shaw: Viral TikTok video sparks investigation into B.C.'s clean energy grantsB.C. energy minister faces backlash, orders audit in wake of clean energy grant scandal
출처: PGCitizen - 🏆 65. / 51 더 많은 것을 읽으십시오 »