Duke Energy: 2Q Earnings Snapshot
CHARLOTTE, N.C. (AP) _ Duke Energy Corp. (DUK) on Thursday reported second-quarter earnings of $500 million.
The Charlotte, North Carolina-based company said it had profit of 71 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 93 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The electric utility posted revenue of $5.64 billion in the period.
Duke Energy expects full-year earnings in the range of $4.55 to $4.85 per share.
Duke Energy shares have declined roughly 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 5 percent. The stock has decreased roughly 5 percent in the last 12 months.