Progress Energy on Tuesday reported net income of $ 45 million, or 18 cents per share, for the quarter ended March 31, compared with $ 93 million, or 38 cents per share, for the same period last year. Revenue rose to $ 2.4 billion, compared with $ 2.2 billion in the prior year first quarter.
Cost, including unfavorable weather and operating costs are higher in the Carolina subsidiary, exceeding revenue growth, according to a release from the company.
Progress Energy Florida, a St. Petersburg-based subsidiary of coverage that provides the entire Central Florida, had quarterly earnings of 21 cents per share, compared with 18 cents for the same period the previous year. Progress Energy Florida also has a net subscribers increased from 31,000 during the last 12 months, said the release.
Operation Florida report the operation and maintenance is lower because of reduced workers' compensation costs, and operating costs low power because the plants die and labor costs. Interest expense increased its debt to fund deferred storm and fuel costs, but also interest income was up on unrecovered storm costs and short-term investments, the release said.
Cost, including unfavorable weather and operating costs are higher in the Carolina subsidiary, exceeding revenue growth, according to a release from the company.
Progress Energy Florida, a St. Petersburg-based subsidiary of coverage that provides the entire Central Florida, had quarterly earnings of 21 cents per share, compared with 18 cents for the same period the previous year. Progress Energy Florida also has a net subscribers increased from 31,000 during the last 12 months, said the release.
Operation Florida report the operation and maintenance is lower because of reduced workers' compensation costs, and operating costs low power because the plants die and labor costs. Interest expense increased its debt to fund deferred storm and fuel costs, but also interest income was up on unrecovered storm costs and short-term investments, the release said.
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