Aug 6 (Reuters) - Duke Energy ( DUK ) reported a
better-than-expected quarterly profit on Tuesday, helped by
higher electricity demand during summer months and favorable
tariffs.
Income at its electric utilities and infrastructure segment
jumped 31.2% in the second quarter, with the company attributing
the growth to rate increases and higher sales volumes.
Duke's electric utilities serve 8.4 million customers in
North Carolina, South Carolina, Florida, Indiana, Ohio and
Kentucky, and collectively own 54,800 megawatts of energy
capacity.
"We've had an excellent first half of the year, delivering
on grid and generation investments and collaborating with
stakeholders to advance the energy transition," CEO Lynn Good
said in a statement.
Duke is among several U.S. electric utilities that have
raised growth forecasts amid a boom in demand from data centers
fueling the boom in artificial-intelligence technology.
The utility is pursuing electricity supply contracts with
Amazon ( AMZN ), Google, Microsoft ( MSFT ) to
safeguard against volatility.
Duke reaffirmed its full-year adjusted profit forecast of
$5.85-$6.10 per share.
The Charlotte, North Carolina-based utility posted an
adjusted profit of $1.18 per share for the quarter, beating
estimates of $1.02, according to LSEG data.