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Duke Energy (DUK) to Post Q1 Earnings: What's in Store?
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Duke Energy Corporation (DUK - Free Report) is slated to report first-quarter 2022 results on May 9 before the opening bell.
In the last reported quarter, the company reported in-line earnings. Duke Energy has a trailing four-quarter earnings surprise of 2.04%, on average.
Factors to Note
In the first quarter, DUK’s service territories experienced mixed weather patterns. While some parts had warmer-than-normal temperatures accompanied by extreme drought conditions, in other parts, colder-than-normal temperatures accompanied by moderate-to-heavy snowfall were observed. Thus, the overall weather pattern might have a moderate impact on the utility’s first-quarter top line.
The strong volume buoyed by the recovering economic activities and customer growth, coupled with positive rate case outcomes across various regions, is anticipated to have favorably impacted Duke Energy’s first-quarter revenues.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $6.43 billion, suggesting growth of 4.6% from the year-ago quarter.
From the cost perspective, the company’s constant efforts to reduce operations and maintenance costs and achieve cost savings are expected to have positively impacted the bottom line of the company. Additionally, the expansion in robust service areas and earnings from infrastructure investments are likely to have added impetus to the first-quarter earnings performance.
However, higher interest expenses might have partially dampened the bottom line in the first quarter.
The Zacks Consensus Estimate for first-quarter earningsis pegged at $1.37 per share, indicating growth of 8.7% from the prior-year reported figure.
Our proven model does not conclusively predict an earnings beat for Duke Energy this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
The company has an Earnings ESP of -2.56% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are two Utilitiesyet to release their first-quarter results and you may want to consider them as these have the right combination of elements to post an earnings beat this season:
The Zacks Consensus Estimate for Brookfield Renewable Partners’ first-quarter revenues and earnings is pegged at $668.9 million. BEP has a four-quarter negative average earnings surprise of 319.58%.
Atlantica Yield (AY - Free Report) has an Earnings ESP of +62.50% and a Zacks Rank #3. The Zacks Consensus Estimate for Atlantica Yield’s first-quarter revenues is pegged at $2.74 billion.
The Zacks Consensus Estimate for Atlantica Yield’s first-quarter earnings is pegged at a loss of 8 cents per share. AY has a four-quarter negative average earnings surprise of 102.34%.
Upcoming Utility Release
Hawaiian Electric Industries, Inc. (HE - Free Report) boasts a long-term earnings growth rate of 3.2%. Hawaiian Electric’s earnings are pegged at 42 cents per share, suggesting a decline of 28.9%.
HE has a four-quarter average earnings surprise of 24.39%. In the last quarter, the company delivered an earnings surprise of 11.11%.
Image: Bigstock
Duke Energy (DUK) to Post Q1 Earnings: What's in Store?
Duke Energy Corporation (DUK - Free Report) is slated to report first-quarter 2022 results on May 9 before the opening bell.
In the last reported quarter, the company reported in-line earnings. Duke Energy has a trailing four-quarter earnings surprise of 2.04%, on average.
Factors to Note
In the first quarter, DUK’s service territories experienced mixed weather patterns. While some parts had warmer-than-normal temperatures accompanied by extreme drought conditions, in other parts, colder-than-normal temperatures accompanied by moderate-to-heavy snowfall were observed. Thus, the overall weather pattern might have a moderate impact on the utility’s first-quarter top line.
The strong volume buoyed by the recovering economic activities and customer growth, coupled with positive rate case outcomes across various regions, is anticipated to have favorably impacted Duke Energy’s first-quarter revenues.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $6.43 billion, suggesting growth of 4.6% from the year-ago quarter.
From the cost perspective, the company’s constant efforts to reduce operations and maintenance costs and achieve cost savings are expected to have positively impacted the bottom line of the company. Additionally, the expansion in robust service areas and earnings from infrastructure investments are likely to have added impetus to the first-quarter earnings performance.
However, higher interest expenses might have partially dampened the bottom line in the first quarter.
The Zacks Consensus Estimate for first-quarter earningsis pegged at $1.37 per share, indicating growth of 8.7% from the prior-year reported figure.
Duke Energy Corporation Price and EPS Surprise
Duke Energy Corporation price-eps-surprise | Duke Energy Corporation Quote
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Duke Energy this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.
The company has an Earnings ESP of -2.56% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are two Utilitiesyet to release their first-quarter results and you may want to consider them as these have the right combination of elements to post an earnings beat this season:
Brookfield Renewable Partners LP (BEP - Free Report) has an Earnings ESP of +54.55% and a Zacks Rank of #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Brookfield Renewable Partners’ first-quarter revenues and earnings is pegged at $668.9 million. BEP has a four-quarter negative average earnings surprise of 319.58%.
Atlantica Yield (AY - Free Report) has an Earnings ESP of +62.50% and a Zacks Rank #3. The Zacks Consensus Estimate for Atlantica Yield’s first-quarter revenues is pegged at $2.74 billion.
The Zacks Consensus Estimate for Atlantica Yield’s first-quarter earnings is pegged at a loss of 8 cents per share. AY has a four-quarter negative average earnings surprise of 102.34%.
Upcoming Utility Release
Hawaiian Electric Industries, Inc. (HE - Free Report) boasts a long-term earnings growth rate of 3.2%. Hawaiian Electric’s earnings are pegged at 42 cents per share, suggesting a decline of 28.9%.
HE has a four-quarter average earnings surprise of 24.39%. In the last quarter, the company delivered an earnings surprise of 11.11%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.