progress energy Q2 2005 earnings release

Progress Energy reported quarterly ongoing earnings of $0.63 per share and GAAP net loss of $0.01 per share for Q2 2005. Key highlights included milder weather negatively impacting earnings, writing off unrecoverable 2004 storm costs, and one less planned nuclear outage. Year-to-date ongoing earnings were $1.14 per share and GAAP earnings were $0.37 per share. Progress Energy reaffirmed its 2005 ongoing earnings guidance of $2.90-$3.20 per share.