The 10-second takeaway
For the quarter ended March 31 (Q1), Duke Energy met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share contracted. GAAP earnings per share grew significantly.
Gross margins contracted, operating margins shrank, net margins grew.
Duke Energy booked revenue of $5.90 billion. The four analysts polled by S&P Capital IQ expected a top line of $5.90 billion on the same basis. GAAP reported sales were 66% higher than the prior-year quarter's $3.55 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 $1.02. The 15 earnings estimates compiled by S&P Capital IQ averaged $1.04 per share. Non-GAAP EPS of $1.02 for Q1 were 11% lower than the prior-year quarter's $1.14 per share. GAAP EPS of $0.89 for Q1 were 35% higher than the prior-year quarter's $0.66 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 37.6%, 620 basis points worse than the prior-year quarter. Operating margin was 20.6%, 460 basis points worse than the prior-year quarter. Net margin was 10.7%, 240 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $5.68 billion. On the bottom line, the average EPS estimate is $0.98.
Next year's average estimate for revenue is $24.99 billion. The average EPS estimate is $4.34.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,866 members out of 1,958 rating the stock outperform, and 92 members rating it underperform. Among 499 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 482 give Duke Energy a green thumbs-up, and 17 give it a red thumbs-down.
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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 of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. 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.