Duke Energy's profits fell in the first quarter compared with a year ago because of weather issues and income lost from operations it sold. But executives say the company is on track to meet its profit target for the full year.
Warmer weather this winter reduced demand for energy - and Duke's revenues. And cleanups after winter storms pushed up costs. At the same time, Duke’s revenues declined because of the sale of its Midwest power generation division a year ago.
Still, chief financial officer Steve Young called it a "solid quarter,"