{"id":41466,"date":"2013-02-13T16:23:00","date_gmt":"2013-02-13T16:23:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/duke-energy-reports-51-jump-in-q4-earnings-duk\/41465\/"},"modified":"2013-02-13T16:23:00","modified_gmt":"2013-02-13T16:23:00","slug":"duke-energy-reports-51-jump-in-q4-earnings-duk","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/duke-energy-reports-51-jump-in-q4-earnings-duk\/41466\/","title":{"rendered":"Duke Energy Reports 51% Jump in Q4 Earnings (DUK)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=DUK\" target=\"_blank\" rel=\"noopener\">NYSE: DUK<\/a>), U.S\u2019s biggest power company, \u00a0reported on Wednesday fiscal fourth-quarter earnings that climbed 51% thanks to the acquisition of its rival Progress Energy last summer.<\/p>\n<p><span id=\"more-41466\"><\/span><\/p>\n<p>For the quarter, Duke Energy reported a profit of $435 million, or 62 cents a share, compared to $288 million, or 65 cents a share, in the year earlier quarter.<\/p>\n<p>Stripping onetime items such as acquisition related expenses, adjusted or non-GAAP earnings came at 70 cents, a penny down from year-earlier quarter but beating analysts\u2019 consensus estimate of 64 cents a share.<\/p>\n<p>For fiscal 2012, Duke Energy&#8217;s full year adjusted earnings came at $4.32 a share, beating analysts\u2019 consensus estimate of $4.13. However, earnings were lower than the year earlier period\u2019s figure of $4.38. The Company had forecasted for earnings to be in the range of $4.20 to $4.35 a share for the fiscal 2012.<\/p>\n<p>The acquisition of Progress Energy helped Duke Energy to bolster its earnings in franchised gas and electric business. Its income in this division doubled to $498 million offsetting weakness in its other two business segments-commercial power and international energy.<\/p>\n<p>Duke Energy completed its acquisition of Progress Energy last year, a move that resulted in a larger company with five utilities in six states, serving more than seven million customers.<\/p>\n<p>Meanwhile, Duke Energy\u2019s Chief Executive, Jim Rogers said in earnings call on Wednesday that as part of its \u00a0multiyear $9 billion fleet modernization program, Duke Energy has decided to withdraw up to 6,800 megawatts (MW) of coal-fired generating capacity by 2015.<\/p>\n<p>\u201cThis program has put us ahead of the curve in our industry in terms of preparing for compliance with stricter environmental regulations,\u201d said Rogers.<\/p>\n<p>The Company will be providing its outlook on fiscal 2013 at an analysts meeting on February 28.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130215060654\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fduke-energy-reports-51-jump-in-q4-earnings-duk%2F41466&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130215060654js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-february-14\/41547\">\nMarket Update After Hours February 14<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-flat-as-euro-zone-economic-data-weighs-down-sentiment\/41532\">\nStocks End Flat as Euro Zone Economic Data Weighs Down Sentiment<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-slips-after-weak-euro-zone-gdp-data\/41531\">\nForex Market Update: Euro Slips after Weak Euro Zone GDP Data<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/valueclick-reports-q4-results-shares-surge-vclk\/41529\">\nValueClick Reports Q4 Results; 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An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NYSE: DUK), U.S\u2019s biggest power company, \u00a0reported on Wednesday fiscal fourth-quarter earnings that climbed 51% thanks to the acquisition of 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