Duke Energy Earnings: DUK Stock Dips 3% on Q3 Revenue Miss

DUK EPS was above estimates

Duke Energy (NYSE:DUK) earnings for the electric power company’s third quarter of 2019 have DUK stock down on Friday. That’s due to the company’s revenue coming in at $6.94 billion. This is well below Wall Street’s estimate of $7.17 billion. Adjusted EPS of $1.79 is above analysts’ estimates of $1.67, but couldn’t save DUK stock.

Duke Energy Earnings: DUK Stock Dips 3% on Q3 Revenue Miss
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Let’s take a closer look at the most recent Duke Energy earnings report.

  • Revenue is up 4.68% from $6.63 billion in the third quarter of 2018.
  • Adjusted per-share earnings come in 8.49% above $1.65 YoY.
  • Operating income of $1.93 billion is 22.15% higher than $1.58 billion in the same period of the year prior.
  • The Duke Energy earnings report also includes a net income of $1.32 billion.
  • That’s a 23.37% increase over its net income of $1.07 billion in the third quarter of the previous year.

Lynn Good, Chairman, President and CEO of Duke Energy, says this about the most recent DUK stock earnings.

“We delivered strong growth across our business segments in the third quarter and continued executing our long-term strategy to build a cleaner, smarter energy future. We’ve outlined a more aggressive climate strategy, advanced important energy infrastructure projects that will enable us to provide more value for our customers and communities and reached constructive regulatory settlements with key stakeholders.”

The Duke Energy earnings report also has the company updating its outlook for 2019. This includes new EPS guidance ranging from $4.95 to $5.15. For comparison, Wall Street is looking for earnings per share of $4.96 in 2019.

DUK stock was down 2.95% as of Friday afternoon.

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/2019/11/duke-energy-earnings-drop-duk-stock/.

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