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Duke Energy (DUK) Misses Q4 EPS by 2c; Will Retain International Energy Business

February 18, 2015 7:05 AM EST

Duke Energy (NYSE: DUK) reported Q4 EPS of $0.86, versus the analyst estimate of $0.88. Revenue for the quarter came in at $5.18 billion versus the consensus estimate of $6.25 billion.

The company has completed a strategic review of its International Energy business. As a result, Duke Energy will continue to own, operate and create value with the business. Additionally, a plan has been developed giving the company access to $2.7 billion in foreign earnings through 2022. Reported results for the quarter include a $373 million, or $0.53 per share, tax charge resulting from this plan. This charge has been excluded from the company's adjusted diluted EPS results for 2014.

Additionally, the company is in settlement discussions with the U.S. government related to the ongoing federal grand jury investigation of the February 2014 Dan River coal ash spill and ash basin operations at other North Carolina coal plants. The company expects a proposed agreement could be reached and filed in the next several days for consideration by the court. If approved, the proposed agreement would resolve the ongoing grand jury investigation of the company's coal ash basin management. Reported results for the fourth quarter 2014 include a charge of approximately $100 million, or $0.14 per share, related to the company's assessment of probable financial exposure related to any agreement. This charge has been excluded from the company's adjusted diluted EPS results for 2014.

For earnings history and earnings-related data on Duke Energy (DUK) click here.



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