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Duke Energy's Third Quarter Earnings Report
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DUK
Duke Energy (NYSE:DUK) announced its results for the most recent quarter on November 8, 2012. Duke Energy offers electric power and gas distribution operations and other energy services in North and South America.
Investors should care about a company's quarterly earnings because it shows the state of the business over the past 90 days and provides guidance for the following 90 days. SEE: How To Decode A Company's Earnings Reports
The Numbers: Duke Energy's latest numbers were good, as the company announced EPS and revenues that came in ahead predictions. The company reported adjusted net income of $1.47 per share versus the $1.45 per share estimate and revenues of $6.72 billion versus the $3.6 billion estimate. Revenue climbed 69.6% from the same period last year. Revenue rose for a second quarter in a row as Duke Energy's sales grew 1.2% to $3.58 billion in the second quarter as well. For the third quarter, the company reported net income of $594 million, up 25.8% from the year-ago quarter.
Management Quote: "Our strong quarterly performance keeps us on track to achieve our targeted 2012 adjusted diluted EPS guidance range of $4.20 to $4.35," said Jim Rogers, chairman, president and CEO. "We recently celebrated the first 100 days as the 'new' Duke Energy and are coming together as one stronger, more efficient organization. Our employees are focused on delivering on our merger commitments to customers, regulators and shareholders. We're off to a great start."
A Look Back: Net income has dropped 15.3% year-over-year on average across the last five quarters. Performance was hurt by a 42.3% decline in the first quarter from the year-earlier quarter.
Looking Ahead: The outlook for the company's results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 64 cents per share, down from 72 cents 90 days ago. Decreasing earnings estimates is generally a negative sign as it suggests analyst believe future earnings to be weaker than previously anticipated. For the fiscal year, the average estimate has moved up from $4.25 a share to $4.27 over the last 60 days.
Investors should care about a company's quarterly earnings because it shows the state of the business over the past 90 days and provides guidance for the following 90 days. SEE: How To Decode A Company's Earnings Reports
The Numbers: Duke Energy's latest numbers were good, as the company announced EPS and revenues that came in ahead predictions. The company reported adjusted net income of $1.47 per share versus the $1.45 per share estimate and revenues of $6.72 billion versus the $3.6 billion estimate. Revenue climbed 69.6% from the same period last year. Revenue rose for a second quarter in a row as Duke Energy's sales grew 1.2% to $3.58 billion in the second quarter as well. For the third quarter, the company reported net income of $594 million, up 25.8% from the year-ago quarter.
Management Quote: "Our strong quarterly performance keeps us on track to achieve our targeted 2012 adjusted diluted EPS guidance range of $4.20 to $4.35," said Jim Rogers, chairman, president and CEO. "We recently celebrated the first 100 days as the 'new' Duke Energy and are coming together as one stronger, more efficient organization. Our employees are focused on delivering on our merger commitments to customers, regulators and shareholders. We're off to a great start."
A Look Back: Net income has dropped 15.3% year-over-year on average across the last five quarters. Performance was hurt by a 42.3% decline in the first quarter from the year-earlier quarter.
Looking Ahead: The outlook for the company's results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 64 cents per share, down from 72 cents 90 days ago. Decreasing earnings estimates is generally a negative sign as it suggests analyst believe future earnings to be weaker than previously anticipated. For the fiscal year, the average estimate has moved up from $4.25 a share to $4.27 over the last 60 days.
by
Investopedia Staff
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