(CHARLOTTE) -- Duke Energy (NYSE: DUK) today announced second quarter 2012 adjusted diluted EPS of $1.02, compared to 99 cents for second quarter 2011, and reported diluted EPS of 99 cents, compared to 98 cents for the same period last year.

Current year and prior year EPS amounts have been adjusted to reflect the one-for-three reverse stock split which was completed immediately prior to closing the merger with Progress Energy on July 2, 2012.

Duke Energy Corporation and Progress Energy, Inc. completed their merger on July 2, 2012, Progress Energy has become a wholly owned direct subsidiary of Duke Energy. As a result, the Progress Energy financial results for the second quarter 2012 are on a stand-alone basis and are not included in Duke Energy's results.

Progress Energy announced second-quarter GAAP earnings of $63 million, or $0.21 per share, compared with GAAP earnings of $176 million, or $0.60 per share, for the same period last year. Second-quarter ongoing earnings were $80 million, or $0.27 per share, compared to $211 million, or $0.71 per share, for the same period last year.

The significant drivers in ongoing earnings per share were higher operation and maintenance (O&M) expense, primarily driven by an additional extended nuclear refueling outage in the Carolinas; higher depreciation and amortization expense; and the unfavorable impact of weather.

The financial results of Progress Energy will be included in Duke Energy's consolidated results beginning with third quarter 2012.