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Duke Energy 4Q Earnings Exceed Expectations

Earlier this month Duke announced it would close the crippled Crystal River nuclear station in Florida rather than spend as much as $3.4 billion to try to repair it. The plant, acquired in the Progress deal, has been shut since 2009 when part of its structure cracked during maintenance.

"They've done a good job of accomplishing a lot of things we were hoping they would," said Andy Smith, an analyst at Edward Jones who called the company's performance in the quarter "solid." He says the company is now poised to perform well over the long term.

"We've had a lot of issues to deal with," Rogers said in an interview Wednesday. "But now we're positioned to harvest savings, to change our cost structure, and get prepared for the future."

Follow Jonathan Fahey on Twitter at http://twitter.com/JonathanFahey .

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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