Duke Energy Corp Stock Pops on Better-Than-Expected Earnings

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Duke Energy Corp (NYSE:DUK) released its earnings report for the first quarter of the year on Thursday.

Duke Energy Corp Stock Pops on Better-Than-Expected Earnings

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Duke Energy Corp’s earnings report for the first quarter of 2018 includes earnings per share of $1.28. This is better than its earnings per share of $1.04 from the same time last year. It also beat out Wall Street’s earnings per share estimate of $1.14 for the quarter.

Net income reported by Duke Energy Corp for the first quarter of the year came in at $620 million. This is worse off than the energy company’s net income of $716 million from the first quarter of 2017.

During the first quarter of the year, Duke Energy Corp reported operating income of $1.16 billion. This is a slight drop from the company’s operating income of $1.19 billion reported in the same quarter of the previous year.

Duke Energy Corp also reported revenue of $5.32 billion for the first quarter of 2018. This is an increase over the company’s revenue of $4.95 billion that was reported in the same period of the year prior. It also wasn’t able to reach analysts’ revenue estimate of $5.78 billion for the quarter, but didn’t drag DUK stock down today.

Duke Energy Corp took time during its earnings report for the first quarter of the year to reaffirm its guidance for 2018. The company is expecting still expecting earnings per share for the year to range from $4.55 to $4.85. Wall Street is looking for DUK to report earnings per share of $4.71 for the full year of 2018.

DUK stock was up 1% as of noon Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/duke-energy-corp-posts-positive-q1-eps/.

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