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CP&L REPORTS FIRST QUARTER EARNINGS

 RALEIGH, N.C., April 22 /PRNewswire/ -- Carolina Power & Light (NYSE: CPL) today reported earnings of 57 cents per share for the first quarter of 1993, compared to earnings per share of 57 cents for the same period in 1992. Net income for the quarter totaled $94.0 million, compared to net income of $94.2 million for the first quarter of 1992.
 Operating revenues for the quarter totaled $707.5 million, an increase of 7.5 percent compared to the first quarter of 1992. The increase in revenues for the quarter reflects higher energy sales as a result of colder weather. Increased revenues were offset by higher operating and maintenance expenses.
 Earnings per share for the 12 months ending March 31, 1993, were $2.35 and net income was $379.4 million. This compares to earnings per share of $2.30 and net income of $380.7 million for the same period last year. The positive impact on earnings per share from increased revenues and lower financing costs was partially offset by higher operating and maintenance expenses. Operating revenues for the 12 months ending March 31, 1993, were $2.8 billion, an increase of 4.0 percent compared to the same period a year ago.
 The company's total energy sales increased 8.7 percent for the first quarter of 1993 compared to the first quarter of 1992, and 4.9 percent for the 12 months ending March 31, 1993, compared to the same 12-month period a year ago.
 CP&L serves approximately 1 million customers in central and eastern North Carolina, an area around Asheville in western North Carolina, and the Pee Dee area of South Carolina.
 CAROLINA POWER & LIGHT CO. (CPL)
 EARNINGS RELEASE FOR PERIOD ENDING 3/31/93
 (000's except for EPS)
 Three Months Ended March 31, Twelve Months Ended March 31,
 1993 1992 1993 1992
 Revenue $707,485 $658,271 $2,816,036 $2,707,175
 Net Income $ 93,998 $ 94,240 $ 379,393 $ 380,737
 Earnings Per
 Share of
 Common Stock $0.57 $0.57(A) $2.35 $2.30(A)
 Average Common
 Stock
 Outstanding 160,737 160,737(A) 160,737 160,737(A)
 (A): 1992 per share data reflect the February 1993 two-for-one stock split.
 -0- 4/22/93
 /CONTACT: Wade Pridgen, Carolina Power & Light, 919-546-6189 (24-Hour Media Contact Line)/
 (CPL)


CO: Carolina Power & Light Co. ST: North Carolina IN: UTI SU: ERN

SB-MM -- CH002 -- 9310 04/22/93 10:38 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:408
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