Categories AlphaGraphs, Earnings, Energy

Duke Energy stock slips after Q4 earnings miss estimates

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.

Duke Energy Q4 2018 Earnings Infographic

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

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Add Comment
Viewing Highlight