NEW YORK (MarketWatch) -- Progress Energy /quotes/comstock/13*!pgn/quotes/nls/pgn (PGN 37.74, +0.30, +0.80%) said on Friday that its third-quarter profit fell to $247 million, or 88 cents a share, compared to $309 million, or $1.18 a share last year. Income from continuing operations was $1.24 a share versus $1.18 a year ago. Analysts polled by FactSet Research had expected the company to earn $1.20 a share. Revenue rose to $2.82 billion, from $2.70 billion a year ago.
This was not a bad earnings report. On-going earnings beat analysts projections by 3 cents. PGN combined Florida and Carolinas had an net increase in customers. The drag on GAAP earnings was from a synthetic fuel litigation loss.
I agree.....anything positive in these days and times is great! Plus it's dividend time and that is always nice. Now, if we can stop cap & trade and elect some conservatives and save our freedoms from the jaws of socialism...it won't be too bad a day.