Duke Energy beats 2Q profit forecasts

CHARLOTTE, N.C. (AP) — Duke Energy Corp. (DUK) on Thursday reported second-quarter earnings of $509 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had profit of 74 cents. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, came to $1.07 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.

The electric utility posted revenue of $5.48 billion in the period.

Duke Energy expects full-year earnings in the range of $4.50 to $4.70 per share.

Duke Energy shares have increased 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 6 percent. The stock has climbed 14 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DUK at http://www.zacks.com/ap/DUK


Keywords: Duke Energy, Earnings Report

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