Duke Energy (DUK) reported weaker than expected earnings for the fourth quarter. Following the announcement, the company’s stock dropped about 1% in the pre-market trading Thursday.
Adjusted earnings of the Charlotte, North Carolina-based company dropped to $0.84 per share in the December quarter from $0.94 per share a year earlier, hurt mainly by higher depreciation/amortization expenses and storm-related costs.
Reported net profit plunged to $464 million or $0.65 per share from $703 million or $1.00 per share in the fourth quarter of 2017. The results fell short of the market’s prediction. Total operating revenues moved up 5.4% annually to $6.12 billion during the quarter and exceeded the estimates.
The company currently forecasts full-year 2019 earnings between $4.80 per share and $5.20 per share. It also extended the long-term earnings growth projection to 4-6%.
Related: Duke Energy Q4 2018 Earnings Conference Call Transcript
“With our robust growth capital plan, ongoing stakeholder engagement efforts and cost management discipline, we remain confident in our growth potential for 2019 and beyond,” said CEO Lynn Good.
Shares of Duke Energy gained around 6% so far this year and 17% in the last twelve months but underperformed the S&P 500 index. The stock dropped modestly on Thursday after closing the previous session lower.
We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips
Most Popular
Earnings Preview: Can Nvidia match its stellar FY25 performance this year?
For Nvidia Corporation (NASDAQ: NVDA), fiscal 2025 was a pivotal year in which the GPU giant generated record-high revenue and profit, capitalizing on its leadership in the AI chip market.
What to expect when Hormel Foods (HRL) reports Q2 2025 earnings results
Shares of Hormel Foods Corporation (NYSE: HRL) stayed green on Tuesday. The stock has gained 6% in the past three months. The branded foods company is scheduled to report its earnings
HD Earnings: Key quarterly highlights from Home Depot’s Q1 2025 financial results
The Home Depot (NYSE: HD) reported its first quarter 2025 earnings results today. Sales of $39.9 billion were up 9.4% year-over-year. Comparable sales decreased 0.3%. Net earnings were $3.4 billion,
