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Duke Energy: 1Q Earnings Snapshot

May 12, 2020 GMT

CHARLOTTE, N.C. (AP) _ Duke Energy Corp. (DUK) on Tuesday reported first-quarter earnings of $938 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $1.24. Earnings, adjusted for severance gains, came to $1.14 per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The electric utility posted revenue of $5.95 billion in the period.

Duke Energy expects full-year earnings in the range of $5.05 to $5.45 per share.

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Duke Energy shares have declined 11% since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 9%. The stock has fallen 6% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DUK at https://www.zacks.com/ap/DUK

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