A closer look at the numbers, however, reveals that results were considerably stronger than the reported figures. The 2006 figures included earnings from Spectra Energy
If you exclude some one-time costs and focus on adjusted earnings from continuing operations, Duke earned $0.30 per share in the first quarter of 2007, compared to $0.21 for the first quarter of 2006.
Duke's prospects for future growth look promising. According to James Rogers, Duke's CEO, the company is making favorable progress toward building two natural gas-fired plants and a coal-fired plant.
If there's a cloud hanging over the company, it relates to a proposed nuclear facility in South Carolina. At the current time, it appears that plans for the Lee Nuclear Plant are proceeding accordingly, although the company has not yet officially filed for an operating license later this year with the U.S Nuclear Regulatory Commission.
Perhaps more significantly, it was reported earlier this week that Southern Company
Provided Duke can turn the corner on nuclear power, I don't think that this week's dip is anything more than a small speed bump on an otherwise smooth road.