Duke Energy beats quarterly estimates on higher electricity rates
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Duke Energy reported better-than-expected first-quarter results, driven by higher electricity rates and increased retail sales. The utility's revenue reached $8.25 billion, surpassing analysts' estimates of $8.06 billion. Adjusted earnings from electric utilities rose to $1.28 billion, while gas utilities reported $349 million in adjusted profit. The colder winter contributed to higher energy demand, and the company’s nuclear plants provided over half of the electricity in the Carolinas. Adjusted profit per share was $1.76, exceeding the forecast of $1.60.
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