Charlotte, N.C.- based, Duke Energy Corp., that earlier had come up with a plan to acquire Piedmont Natural Gas worth US$ 4.9 billion to beef up its gas assets, showed increased profit estimates in recent Q reports. However, it fell short of expectation amid warmer weather in most of its markets.
INSIGHT: Duke Energy Corp. operates utilities that serve millions of customers in the South and Midwest.
In a global turmoil where Dollar dominance has erupted most of the market, the company had been in an ongoing struggle with its international business, causing it to come up with a sellout strategy – an attempt to pacify itself in increasing energy costs.
In 4Q, Duke’s International reported a 5.6% decline within its income figures. The unit is believed to have been functionally congested by bearish methanol cost.
From utility regulating perspective, the company has shown earnings in Bull market – a rise from US$ 551 million to US$ 601 million.Higher pricing and updated contracts with more favorable margins buoyed the business, countering the effect of record warm weather in the Carolinas and across the Midwest.
Overall, profit laid forth in 4Q by Duke sets approx. at US$ 477 million, i.e. 69 cents/share – bullish from last year’s measure of US$ 97 million, i.e. 14 cents/share.
And that too beating analyst’s forecasts, earnings/share has seen a hike worth penny at 87 cents.