Summary
Duke Energy Corporation (DUK) reported financial results for the quarter and six months ended June 30, 2014. For the three months ended June 30, 2014, Duke Energy reported diluted earnings per share of $0.86, compared to $0.48 for the same period in 2013. For the six months ended June 30, 2014, diluted earnings per share were $0.72, down from $1.37 in the prior year. This decrease was largely driven by significant impairment charges related to the planned disposition of Duke Energy Ohio's nonregulated Midwest generation business and unfavorable mark-to-market impacts in the Commercial Power segment. Operationally, regulated utility revenues saw an increase, driven by higher retail pricing and riders across various jurisdictions, alongside favorable weather conditions contributing to higher energy sales volumes. However, operating expenses also increased, notably due to higher fuel and purchased power costs, as well as increased depreciation and amortization. The company continues to navigate various regulatory matters and environmental challenges, including ongoing appeals related to rate cases and actions concerning coal ash management.
Financial Highlights
47 data points| Revenue | $5.71B |
| Operating Expenses | $4.42B |
| Operating Income | $1.29B |
| Interest Expense | $403.00M |
| Net Income | $609.00M |
| EPS (Basic) | $0.86 |
| EPS (Diluted) | $0.86 |
| Shares Outstanding (Basic) | 707.00M |
| Shares Outstanding (Diluted) | 707.00M |
Key Highlights
- 1Diluted EPS for the three months ended June 30, 2014, was $0.86, an increase from $0.48 in the prior year.
- 2Diluted EPS for the six months ended June 30, 2014, was $0.72, a decrease from $1.37 in the prior year, impacted by significant impairments and mark-to-market losses.
- 3Total operating revenues increased to $5,949 million for the three months ended June 30, 2014, from $5,879 million in the prior year.
- 4Total operating revenues increased to $12,573 million for the six months ended June 30, 2014, from $11,777 million in the prior year.
- 5Impairment charges of $1,388 million were recorded for the six months ended June 30, 2014, largely due to the planned disposition of the nonregulated Midwest generation business.
- 6The company's Regulated Utilities segment saw increased revenues driven by higher retail pricing and riders, and favorable weather.
- 7Commercial Power segment reported a significant operating loss of $(120) million for the three months ended June 30, 2014, impacted by impairments and mark-to-market losses.