When Duke Energy Corp. (NYSE: DUK) reported its most recent quarterly results before the markets opened on Tuesday, the utility giant posted $0.94 in earnings per share (EPS) on $5.85 billion in revenue. Consensus estimates from Thomson Reuters had called for $0.92 per share and $6.17 billion. In the fourth quarter of last year, it said it had EPS of $0.81 on $4.82 billion in revenue.
The company reported its segments as follows:
- Electric Utilities and Infrastructure recognized fourth-quarter 2017 segment income of $826 million, compared to $483 million in the fourth quarter of 2016.
- Gas Utilities and Infrastructure recognized segment income of $140 million, compared to $89 million last year.
- Commercial Renewables recognized fourth-quarter 2017 segment income of $439 million, compared to $10 million.
- Other recognized fourth-quarter 2017 net expense was $700 million, compared to a year-ago net expense of $209 million.
Lynn Good, Duke Energy board chair, president and CEO, commented:
This was an exceptional year for Duke Energy as we executed on our strategy and delivered on our commitments in 2017. By focusing on cost management and operational excellence, we achieved strong financial results, ending the year near the high end of our narrowed guidance range.
Looking ahead to the next year, the company gave its 2018 EPS guidance range of $4.55 to $4.85 and reaffirmed and extended its long-term adjusted diluted EPS growth rate of 4% to 6% through 2022. The consensus estimates call for $4.78 in EPS on $24.65 billion in revenue for the full year.
Good added:
Looking forward, we have the right long-term strategy in place, supported by a solid capital growth plan. Our vision is clear – we are investing in infrastructure our customers value and delivering sustainable growth for our investors.
Shares of Duke were last seen down about 2% at $75.06, with a consensus analyst price target of $85.33 and a 52-week range of $72.93 to $91.80.
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.