Duke Energy Reports Strong 2010 Results
February 21, 2011
- Company attains adjusted diluted earnings per share (EPS) of $1.43 in 2010, compared to $1.22 in 2009; reported diluted EPS $1.00 for 2010 compared to $0.83 in 2009
- Fourth quarter 2010 adjusted diluted EPS 21 cents, compared with 28 cents for the fourth quarter 2009; reported diluted EPS 32 cents, compared to 26 cents in 2009
- Significantly favorable weather and strong operational performance drive results for the year
- Company establishes 2011 adjusted diluted earnings guidance range of$1.35 to $1.40 per share
CHARLOTTE, NC – February 17, 2011 – Favorable weather and solid operational performance resulted in Duke Energy posting full-year adjusted diluted EPS of $1.43, achieving its increased guidance range of $1.40 to $1.45 per share for 2010. Adjusted diluted EPS in 2009 was $1.22. Duke Energy’s full-year reported diluted EPS was $1.00 for 2010, compared to $0.83 in 2009.
The company has established its 2011 adjusted diluted earnings guidance range at $1.35 to $1.40 per share.
“Weather grabbed the headlines in 2010, but the real story was the performance of our employees,” said Jim Rogers, chairman, president and chief executive officer. “We consistently delivered strong operational and financial results during the year.
“In 2011, we will first and foremost continue to deliver on our obligations to our customers, investors and the communities we serve,” he added. “We also will work toward timely approval of our merger and subsequent integration with Progress Energy.”
Duke Energy’s regulated generation fleet met the challenge of increased load requirements resulting from the weather, led by the nuclear fleet’s record-setting capacity factor of approximately 95.9 percent in 2010, eclipsing its previous fleet record of approximately 95.2 percent in 2002. This is the 11th consecutive year that the nuclear fleet has had a capacity factor above 90 percent. Additionally, the company’s non-regulated Midwest generation fleet experienced strong operational results during the year and generating levels were at an all time high.
The economy continues to show signs of recovery in the company’s regulated service territories. Excluding the impact of weather, customer demand in 2010 was up nearly 2 percent compared to 2009 levels, principally driven by a 7 percent increase in the industrial class.
Fourth quarter 2010 adjusted diluted EPS was 21 cents, compared to 28 cents for fourth quarter 2009.
Fourth quarter 2010 reported diluted EPS was 32 cents, compared to 26 cents for fourth quarter 2009. Reported results for the quarter include gains on sales of noncore businesses.
