The largest utility owner in the United States has been in the news this week for a couple of bad reasons. Firstly because of its major coal ash spill in North Carolina’s Dan River, and secondly because it is looking to divest itself from more than a dozen commercial power plants in the Midwest after the state of Ohio blocked the company from raising rates.
Tuesday, the company announced its financial results for the quarter had met growth expectations. Revenue was $24.6 billion, and profits totaled $2.6 billion. This represented more than a fifty percent increase over 2012. Diluted earnings per share met expectations for 2013, at $4.35, and fourth quarter earnings were $1.00 per share.
“Our company demonstrated tremendous focus and discipline in 2013,” Lynn Good, president and CEO said in a statement on Tuesday. “As a result, we achieved the mid-point of our earnings per share guidance range, increased the dividend, and exceeded our original target of 5 to 7 percent in non-fuel operating and maintenance savings.
For 2014, the company expects EPS to fall between $4.45 and $4.60. It maintains its 4 to 6 percent goal for growth through 2016 and beyond.
A Brief History of Semiconductors
If you think size isn’t everything, you’re probably not thinking about technology. In the world of technology, size is often the principal determinant of prevalence. The smaller our silicon becomes, the more likely it is to be used somewhere it wasn’t before. History has shown this to be the truth.