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How Duke Energy Fared in 1Q17 and What to Expect Going Forward

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How Duke Energy Fared in 1Q17 and What to Expect Going Forward PART 2 OF 6

How Did Duke Energy’s Earnings Trend in 1Q17?

Duke Energy’s earnings

“We have a compelling strategy to deliver value to our stakeholders, and we are making good progress against our plan,” said Lynn Good, Duke Energy’s (DUK) chair, president, and CEO, after delivering fair first quarterly earnings on May 9, 2017. Duke Energy (DUK), based in Charlotte, North Carolina, reported earnings of $1.03 per share in 1Q17 against its earnings of $1.13 per share in the same quarter last year.

Duke Energy’s gas distribution segment, Piedmont Natural Gas, boosted 1Q17 earnings and reported profits of $133 million. In the last quarter, the segment reported earnings of $33 million.

How Did Duke Energy’s Earnings Trend in 1Q17?

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Earnings drivers

Duke Energy’s earnings per share fell 8% in 1Q17 compared to 1Q16. Its total operating expenses rose 4% to $4.3 billion in 1Q17. In the comparable period last year, they were $4.1 billion.

Duke Energy’s principal utility business reported earnings of $635 million in 1Q17 against earnings of $664 million in 1Q16. The lower profit was mainly due to warmer weather.

Duke Energy’s Commercial Renewables segment reported earnings of $25 million in 1Q17, which was flat compared to 1Q16.

Duke Energy’s management expects earnings to rise 4.0%–6.0% annually for the next five years. It has given an earnings guidance of $4.50–$4.70 per share for 2017. Duke’s target earnings growth is in line with the industry average. Duke’s peers Dominion Resources (D) and NextEra Energy (NEE) have projected that their earnings will rise ~10.0% in the next few years, nearly double the industry average (XLU).

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