The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Duke Energy missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share dropped significantly.
Margins dropped across the board.
Duke Energy notched revenue of $6.72 billion. The four analysts polled by S&P Capital IQ looked for revenue of $6.88 billion on the same basis. GAAP reported sales were 73% higher than the prior-year quarter's $3.88 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.47. The 16 earnings estimates compiled by S&P Capital IQ forecast $1.45 per share. GAAP EPS of $0.85 for Q3 were 19% lower than the prior-year quarter's $1.05 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 34.5%, 950 basis points worse than the prior-year quarter. Operating margin was 19.8%, 780 basis points worse than the prior-year quarter. Net margin was 8.8%, 340 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $5.43 billion. On the bottom line, the average EPS estimate is $0.66.
Next year's average estimate for revenue is $20.49 billion. The average EPS estimate is $4.28.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,854 members out of 1,943 rating the stock outperform, and 89 members rating it underperform. Among 490 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 476 give Duke Energy a green thumbs-up, and 14 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 $68.70.
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