logo
  

Duke Energy Q2 Profit Rises, Above Estimates; Reiterates 2022 Earnings Outlook - Update

(Adds Outlook, sale of Commercial Renewables business)

Duke Energy Corp (DUK) announced a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $893 million, or $1.14 per share. This compares with $751 million, or $0.96 per share, in last year's second quarter.

Excluding items, Duke Energy Corp reported adjusted earnings of $893 million or $1.14 per share for the period.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.1% to $6.69 billion from $5.76 billion last year.

Outlook:

The company reaffirmed its 2022 adjusted EPS guidance of $5.30 to $5.60. Analysts on average expect it to earn $5.45 a share for the full year.

Review of Commercial Renewables:

The company said, "As we look forward to the remainder of this decade and beyond, we see significant investment opportunities in our regulated operations and believe now is the time to review the strategic fit of our commercial portfolio."


Duke Energy Corp earnings at a glance (GAAP) :

-Earnings (Q2): $893 Mln. vs. $751 Mln. last year.
-EPS (Q2): $1.14 vs. $0.96 last year.
-Analyst Estimate: $1.07
-Revenue (Q2): $6.69 Bln vs. $5.76 Bln last year.

-Guidance:
Full year EPS guidance: $5.30 to $5.60

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT