|
Duke Energy Corporation has added a news release to its Investor Relations website. Title: Duke Energy's Cost Controls and Operational Excellence Lead to Solid Full-Year 2009 Results
Date(s): 2/12/2010 2:01:00 PM
For a complete listing of our news releases, please click here
- Company exceeds employee incentive target of $1.20 in 2009, based upon adjusted diluted earnings per share (EPS); adjusted diluted EPS for 2009 was $1.22 compared to $1.21 in 2008
- Reported diluted EPS was $0.83 for 2009, compared to $1.07 in 2008
- Fourth quarter 2009 adjusted EPS was 28 cents, compared with 27 cents for the fourth quarter 2008
- Reported diluted EPS was 26 cents for both the fourth quarter 2009 and the fourth quarter 2008
CHARLOTTE, N.C., Feb 12, 2010 /PRNewswire via COMTEX/ -- Duke Energy's (NYSE: DUK) cost control efforts and strong operational performance in 2009 resulted in full-year adjusted diluted earnings per share of $1.22, exceeding the employee incentive target of $1.20. Adjusted diluted EPS in 2008 was $1.21. Full-year reported diluted EPS was $0.83 for 2009, compared to $1.07 in 2008.
Fourth quarter 2009 adjusted diluted EPS was 28 cents, compared to 27 cents for fourth quarter 2008. Reported diluted EPS was 26 cents for both the fourth quarter 2009 and the fourth quarter 2008.
The company was able to achieve this performance in part by exceeding its target of reducing operations and maintenance costs by $150 million in 2009, while also exceeding prior-year operational performance for its generation fleet.
Industrial sales volumes adversely affected earnings during 2009, declining by approximately 14 percent year-over-year, on a weather-normalized basis. Fourth quarter 2009 industrial sales declined less than 5 percent, a pace of decline that was slower than earlier in 2009 as the economy showed signs of continued stabilization.
"Our performance in 2009 was very solid. Despite year-over-year declines in retail sales volumes, we exceeded our employee incentive target by controlling our costs and managing our operations exceptionally well," said James E. Rogers, chairman, president and chief executive officer. "Although the economy has been challenging, the second half of 2009 showed signs of stabilization."
Mark-to-market impacts of economic hedges in the Commercial Power segment and special items affecting Duke Energy's adjusted diluted EPS for the quarters include:
MEDIA CONTACT
Tom Shiel
Phone: 704-382-2355
24-Hour: 704-382-8333
ANALYST CONTACT
Bill Currens
Phone: 704-382-1603
SOURCE Duke Energy
|