Duke Energy (DUK) To Post Q1 Earnings: What's In The Cards?

Zacks Investment Research | May 07, 2019 04:29AM ET

Duke Energy Corporation (NYSE:DUK) is set to report first-quarter 2019 results on May 9, before the opening bell.

In the last reported quarter, the company delivered a negative earnings surprise of 5.62%. However, earnings surpassed the Zacks Consensus Estimate in three of the last four quarters, the average beat being 0.95%.

Let’s see how things are shaping up prior to this announcement.

Factors Under Consideration

Duke Energy’s service territories witnessed above-normal and above-average temperatures during most of the first quarter of 2019. During the quarter, Florida witnessed its second warmest February on record. This is expected to result in decreased demand for electricity by the utility’s customers on account of reduced heating facility usages.

This might weigh on the company’s top line in the to-be-reported quarter. However, a few other regions under its service territories witnessed revenue-favoring temperature, which might offset these negative impacts on the top line.

In line with this, the Zacks Consensus Estimate for Duke Energy’s first-quarter revenues is $6.25 billion, indicating a rise of 1.9% from the figure reported in the year-ago quarter.

However, the company anticipates incurring higher costs due to delay in the Atlantic Coast Pipeline project. This may have an unfavorable impact on the bottom line in the upcoming quarterly results.

In line with this, the Zacks Consensus Estimate for Duke Energy’s first-quarter earnings pegged at $1.26 implies a decline of 1.56% from the year-ago quarter’s reported figure.

Duke Energy Corporation Price and EPS Surprise

Duke Energy Corporation Quote

Earnings Whisper

Our proven model does not conclusively show that Duke Energy is likely to beat estimates in the first quarter. This is because a stock needs to have both — a positive Zacks Investment Research

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Written By: Zacks Investment Research

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