Disappointing Duke (DUK)

By Douglas A. McIntyre Updated Apr 27, 8:14PM EDT · Published Nov 5, 10:09AM EST

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Duke_logo_2 Duke Energy Corp. (NYSE:DUK) shares are trading down on fairly active volume. Earlier this morning, the company reported EPS of $0.33, compared with analysts’ estimates of $0.45. Revenue also was a big miss: $3.5 billion compared with expectations of $3.92 billion.

The disappointing results were attributed to milder weather, expensesto recover from flooding in the Midwest, cost recovery problems inOhio, and overall economic conditions. The company expects to miss itsemployee incentive target fiscal year EPS of $1.27 by a nickel.

Duke has raised its cash-on-hand position to $1.88 billion from $675million a year ago, and its long-term debt is a reasonable 40% of itsmarket cap. But the poor performance in the third quarter will weakenthe share price even more.

Shares are down over 4% at $16.20 and its 52-week trading range is $13.50 to $20.78.

Paul Ausick
November 5, 2008

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.