Duke Energy Slashes FY22 Outlook As Q3 Adj. EPS Miss Estimates

RTTNews | 933日前
Duke Energy Slashes FY22 Outlook As Q3 Adj. EPS Miss Estimates

(RTTNews) - Duke Energy Corp. (DUK) reported on Friday that profit for the third quarter edged up from last year, driven by strong volumes in Electric Utilities and Infrastructure. Adjusted earnings per share missed analysts' expectations, while quarterly revenues topped it. The company also slashed it adjusted earnings outlook for the full-year 2022.

For the third quarter, the company reported net income available to common stockholders for the quarter of $1.38 billion or $1.81 per share, up from $1.37 billion or $1.79 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $1.78 per share, compared to $1.88 per share in the year-ago quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.84 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter increased to $7.97 billion from $6.95 billion in the same quarter last year. Analysts expected revenues of $7.39 billion for the quarter.

Looking ahead to fiscal 2022, the company now projects adjusted earnings in a range of $5.20 to $5.30 per share, down from the prior forecast range of $5.30 to $5.60 per share. The Street is looking for earnings of $5.44 per share for the year.

For fiscal 2023, the company expects adjusted earnings in a range of $5.55 to $5.75 per share and extended long-term growth rate of 5 to 7 percent through 2027 off the $5.65 midpoint of 2023 adjusted earnings guidance. Analysts expect earnings of $5.73 per share for fiscal 2023.

The company said it completed the strategic review of its Commercial Renewables business and initiated the sale process, targeting a second-quarter 2023 closing. The business will be presented as discontinued operations in the fourth quarter.

"We remain on track to deliver strong results from our regulated utilities in 2022, while advancing our clean energy transition and continuing to deliver exceptional value to our customers, stakeholders and investors," said Lynn Good, Duke Energy Chair, President and CEO.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Duke Energy Q4 Results Top Estimates; Reaffirms FY23 Outlook

Duke Energy Q4 Results Top Estimates; Reaffirms FY23 Outlook

Duke Energy Corp. (DUK) reported on Thursday a net loss available to common stockholders for the fourth quarter of $531 million or $0.71 per share, compared to net income of $732 million or $0.93 per share in the prior-year quarter.
RTTNews | 836日前
Duke Energy Progress Says Customers Will See Bills Increase If NCUC Approves

Duke Energy Progress Says Customers Will See Bills Increase If NCUC Approves

Duke Energy Progress, a subsidiary of Duke Energy Corp. (DUK), said Thursday that it has made its annual filings with the North Carolina Utilities Commission (NCUC) this week for costs associated with fuel and various riders, including state programs to encourage renewable energy adoption, and energy efficiency and demand management programs to reduce energy use.
RTTNews | 1074日前
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | 1日前
Swiss Market Ends Weak On Tariff Concerns

Swiss Market Ends Weak On Tariff Concerns

After opening on a positive note and staying above the flat line till about an hour past noon, the Switzerland market tumbled on Friday, hurt by U.S. President Donald Trump's threat that imports from the European Union will face 50% tariffs from June 1st.
RTTNews | 1日前
European Stocks Closed Weak On Trump's Fresh Tariff Threat

European Stocks Closed Weak On Trump's Fresh Tariff Threat

European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
RTTNews | 1日前
TSX Recovers After Early Setback; Materials Stocks Move Higher

TSX Recovers After Early Setback; Materials Stocks Move Higher

After a weak start and a subsequent drop to lower levels, the Canadian market recovered well and is down just marginally a little past noon on Friday. The early setback was due to U.S. President Donald Trump's threat that 50% tariffs will be imposed on imports from the European Union beginning June 1st.
RTTNews | 1日前