LONDON, UK / ACCESSWIRE / December 14, 2017 / Active-Investors free earnings report on Duke Energy Corp. (NYSE: DUK) ("Duke") has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=DUK. The Company posted its third quarter fiscal 2017 results on November 03, 2017. The Company's Gas and Utility segment's revenues surged 206%. Register today and get free access to our complimentary member's area where many more reports are available:
www.active-investors.com/registration-sg
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Duke Energy most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/?symbol=DUK
Earnings Highlights and Summary
During Q3 FY17, Duke posted revenues of $6.48 billion compared to $6.58 billion in Q3 FY16, declining 14.29% on a y-o-y basis, due to unfavorable weather conditions and an absence of earnings from the International Energy segment. The Company's revenue numbers' missed analysts' estimates of $6.75 billion.
The Company's operating income was $1.70 billion in the reported quarter compared to $1.95 billion in Q3 FY16, decreasing 13.25%.
Duke's net income decreased 18.88% to $954.00 million in the reported quarter compared to $1.18 billion in Q3 FY16, due to an absence of earnings from sold assets. The Company's diluted earnings per share (EPS) was $1.36 for Q3 FY17 compared to $1.70 in Q3 FY16, declining 20% on a y-o-y basis. Duke's adjusted earnings were $1.59 per share for the reported quarter, beating analysts' estimates of $1.56.
Segment Details
Duke's Electric Utilities and Infrastructure segment's revenues were $6.13 billion in Q3 FY17 compared to $6.34 billion in Q3 FY16, declining 3.33%, due to lower retail sales volume and lost revenues associated with Hurricane Irma and higher depreciation. The segment's operating income was $1.77 billion in Q3 FY17 compared to $2.02 billion in Q3 FY16, decreasing 12.27% on a y-o-y basis. The segment's income was $1.02 billion in Q3 FY17 compared to $1.19 in Q3 FY16, decreasing 14.12% on a y-o-y basis.
Duke's Gas Utilities and Infrastructure segment's revenues were $272.00 million in Q3 FY17 compared to $89.00 million in Q3 FY16, advancing 205.61% on a y-o-y basis, due to increased investments in the Atlantic Coast Pipeline (ACP). In the reported quarter, the segment's operating income reflected a growth of 31.82% to $29.00 million on a y-o-y basis compared to $22.00 million in Q3 FY16. The segment's income was $19.00 million in Q3 FY17 compared to $15.00 million in Q3 FY16, increasing 26.67%, due to higher earnings.
Duke's Commercial Renewables segment's revenues were $95.00 million in Q3 FY17 compared to $139.00 million in Q3 FY16, declining 31.65% on a y-o-y basis. The segment's operating loss was $116.00 million in the reported quarter compared to a loss of $90.00 million in Q3 FY16. The segment's loss was $49.00 million in Q3 FY17 compared to a loss of $24.00 million in Q3 FY16, due to lower solar investment tax credits and higher interest income.
Cash Matters
Duke's cash and cash equivalents balance was $282.00 million as on September 30, 2017, compared to $5.72 billion as on September 30, 2016. The net inflow from operating activities was $5.01 billion in Q3 FY17 compared to $5.71 billion in Q3 FY16.
Outlook
For the fiscal year 2017, Duke anticipates EPS to be in the range of $4.50 - $4.60, and revenues to be approximately $24.66 billion. For Q4 FY17, the Company expects EPS to be approximately $0.94, and revenues to be approximately $5.98 billion.
Stock Performance Snapshot
December 13, 2017 - At Wednesday's closing bell, Duke Energy's stock slightly rose 0.49%, ending the trading session at $87.56.
Volume traded for the day: 3.93 million shares, which was above the 3-month average volume of 2.51 million shares.
Stock performance in the last three-month – up 0.07%; previous six-month period – up 0.70%; past twelve-month period – up 13.24%; and year-to-date – up 12.81%
After yesterday's close, Duke Energy's market cap was at $61.57 billion.
Price to Earnings (P/E) ratio was at 22.99.
The stock has a dividend yield of 4.07%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry. This sector was up 0.2% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
