Charlotte Observer:
Duke Energy posted a strong third quarter as a torrid summer in the Carolinas drove up sales, and adjusted its earnings outlook for the year upward.
The quarter's $670 million profit compared to $109 million a year earlier, when Duke took a $413 million charge on its Midwestern operations. Diluted earnings per share of 51 cents compared to 8 cents for 2009's third quarter.
The Carolinas saw the hottest third quarter since Duke began keeping records in 1961, pushing up residential sales and accounting for most of the earnings rise. Cooling-degree days, a measure of the energy needed during hot weather, rose 31 percent from last year.
