Duke Energy Corp. reported first quarter earnings fell, as it spun off its natural gas business at the year outset. Net income was $357 million, good for EPS of $0.28 cents per share, versus net of $358 million (EPS of $0.37) in the year earlier period.
However, excluding one-time items, EPS were $0.30 versus $0.21 a year ago. Revenue came in at $3.09 billion, up from $1.62 billion a year earlier. Thomson Financial consensus estimates expected Duke's EPS to be $0.31 on revenue of $3.05 billion. Duke shares have gained 5% so far in 2007, lagging the broader S&P utility index which is up roughly 15%.
Sources: Press Release, Reuters, AP, MarketWatch
Commentary: Investing In a Greenhouse Gas-Regulated World • Duke-Spectra: A Powerful Spinoff • Cramer's Take on DUK
Stocks/ETFs to watch: Duke Energy Corporation (DUK). Competitors: Exelon Corporation (EXC), The Southern Company (SO), American Electric Power Company (AEP), TXU Corporation (TXU). ETFs: Utilities SPDR ETF (XLU), HOLDRS Utilities (UTH), Vanguard Utilities (VPU)
Related: DUK Investor Relations
Seeking Alpha's news briefs are combined into a pre-market summary called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only seconds to sign up.