Duke Energy Beats On EPS, Revenue Just Misses

U.S. Utility Duke Energy Corp. reported net income slipped 17% in its second quarter, to $293 million. EPS came in at $0.24 excluding special items, which included fees associated with spinning off Spectra Energy. Analysts were expecting an average of $0.20 per share on that basis. Revenue rose 4.8% to $3.04 billion, slightly below consensus analyst estimates of $3.05 billion. Assuming normal weather conditions, Duke expects full year earnings to top its previous guidance of $1.15 a share. CEO James E. Rogers said he was "very pleased with the strong performance of our major business units." Duke shares have lost 6.5% YTD, trailing 6% gains in the utility sector as a whole. Shares climbed 4.62% in composite trading Monday, only to fall 2.5% after hours.

Sources: Press Release, Reuters, AP, MarketWatch
Commentary: Duke Energy Pays Royal Dividends • Duke Energy Corp. Misses By a Penny • Cramer's Take on DUK
Stocks/ETFs to watch: DUK. Competitors: EXC, SO, AEP, TXU. ETFs: XLU, UTH, VPU

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