Duke Energy Beats on EPS but GAAP Results Lag
Duke Energy (NYS: DUK) reported earnings on Feb. 16. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Duke Energy beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share shrank significantly.
Gross margins shrank, operating margins improved, net margins dropped.
Duke Energy logged revenue of $3.37 billion. The four analysts polled by S&P Capital IQ anticipated revenue of $3.29 billion on the same basis. GAAP reported sales were 0.4% lower than the prior-year quarter's $3.38 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.24. The 14 earnings estimates compiled by S&P Capital IQ forecast $0.21 per share on the same basis. GAAP EPS of $0.22 for Q4 were 31% lower than the prior-year quarter's $0.32 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.1%, 1,750 basis points worse than the prior-year quarter. Operating margin was 21.1%, 440 basis points better than the prior-year quarter. Net margin was 8.6%, 400 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $3.64 billion. On the bottom line, the average EPS estimate is $0.38.
Next year's average estimate for revenue is $14.53 billion. The average EPS estimate is $1.42.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,856 members out of 1,945 rating the stock outperform, and 89 members rating it underperform. Among 478 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 463 give Duke Energy a green thumbs-up, and 15 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Duke Energy is hold, with an average price target of $20.71.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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