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Duke Energy’s earnings increased 26% last year

SHARE Duke Energy’s earnings increased 26% last year

Duke Energy, which has an office in Salt Lake City, said Wednesday it had record ongoing earnings per share of $2.64 in 2001, compared with the previous year's $2.10, an increase of 26 percent.

The North Carolina-based company said that including non-recurring items, it had 2001 basic earnings per share of $2.45, up from $2.39 the previous year.

Revenue was up 21 percent, to $60 billion, in 2001.

Duke said its "balanced and disciplined approach to the market" produced strong earnings growth in a volatile year for energy companies.

The company said it is positioned for growth in 2002 at the high end of its already stated level of 10 percent to 15 percent of the 2000 base of $2.10.

Among the strong business segments were energy services, which had combined earnings before interest and taxes of $1.6 billion, up 127 percent year over year, and North American wholesale energy, up 211 percent to $1.4 billion.

Duke is involved in natural gas and electricity supply, delivery and trading.