DUK

Duke Energy Corporation (Holding Company)

106.38
USD
1.12%
106.38
USD
1.12%
95.48 116.33
52 weeks
52 weeks

Mkt Cap 80.90B

Shares Out 769.00M

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Duke Energy posts lower Q1 profit weighed by surging fuel costs

Duke Energy (NYSE:DUK) -0.3% pre-market after reporting mixed Q1 results that saw earnings missing expectations while revenues rose 16% to a higher than forecast $7.1B. Q1 net income fell to $818M, or $1.08/SHARE, from $953M, or $1.25/SHARE, in the year-earlier quarter, as total operation expenses jumped 24.6% Y/Y to $5.86B, including an increase in the cost of fuel used in electric generation and purchased power to $1.82B from $1.44B a year ago. Duke Energy (DUK) said Q1 income at its electric utility and infrastructure division fell nearly 12% Y/Y to $723M from $820M, citing charges related to the 2022 Indiana Supreme Court ruling on coal ash. Q1 income at the company's gas utilities and infrastructure segment was flat, while income in commercial renewables fell to $11M from $27M. The utility reaffirmed its FY 2022 adjusted EPS guidance of $5.30-$5.60, in line with $5.46 analyst consensus estimate, and a long-term adjusted EPS growth rate of 5%-7% through 2026. Duke Energy's (DUK) price return shows a 6% YTD gain and a 10% increase during the past year.

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