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Duke Energy (DUK) to Post Q3 Earnings: What's in the Cards?
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Duke Energy Corporation (DUK - Free Report) is slated to report third-quarter 2022 results on Nov 4, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 3.64%. Moreover, Duke Energy has a trailing four-quarter earnings surprise of 1.13%, on average.
Factors to Note
In the third quarter, the majority of DUK’s service territories experienced warmer-than-normal temperatures accompanied with drought conditions. This must have boosted electricity demand among the company’s customers for cooling purposes, which in turn are expected to have bolstered its third-quarter top line.
Customer growth, coupled with positive rate case outcomes across various regions, is also anticipated to have favorably impacted Duke Energy’s third-quarter revenues. However, hurricane Ian resulted in major flooding, causing outages in parts of the company’s service territories, which might have had impacted overall Q3 revenues.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $7.19 billion, suggesting growth of 3.5% from the year-ago quarter.
The impacts of hurricane Ian might have damaged Duke Energy’s infrastructure during the third quarter, thereby pushing up its operating expenses. This, in turn, must have dragged down the company’s Q3 earnings.
Moreover, comparatively favorable weather in the third quarter of 2021, higher interest expense, tax timing and lower contributions from Commercial Renewables are projected to have dampened the company’s bottom line in the third quarter.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.83 per share, indicating a decline of 2.7% from the prior-year reported figure.
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 ESP and 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 -0.41% 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 three Utilities you may want to consider as these have the right combination of elements to post an earnings beat this season:
Ameren Corporation (AEE - Free Report) has an Earnings ESP of +1.41% and a Zacks Rank #3. The Zacks Consensus Estimate for Ameren’s third-quarter earnings is pegged at $1.72 per share, suggesting growth of 4.2% from the year-ago quarter.
The Zacks Consensus Estimate for AEE’s third-quarter sales is pegged at $1.90 billion, indicating growth of 5% from the prior-year reported figure.
Spire (SR - Free Report) has an Earnings ESP of +2.36% and a Zacks Rank #3. The Zacks Consensus Estimate for Spire’s third-quarter loss is pegged at 64 cents per share, suggesting a deterioration from the year-ago quarter.
The Zacks Consensus Estimate for SR’s third-quarter sales is pegged at $280.9 million, implying a decline of 3.2% from the prior-year reported figure.
Northwest Natural Holding Company (NWN - Free Report) has an Earnings ESP of +2.01% and a Zacks Rank #3. The Zacks Consensus Estimate for Northwest’s third-quarter loss is pegged at 75 cents per share, suggesting a deterioration from the year-ago quarter.
The Zacks Consensus Estimate for NWN’s third-quarter sales is pegged at $105.9 million, implying growth of 4.4% from the prior-year reported figure.
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Duke Energy (DUK) to Post Q3 Earnings: What's in the Cards?
Duke Energy Corporation (DUK - Free Report) is slated to report third-quarter 2022 results on Nov 4, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 3.64%. Moreover, Duke Energy has a trailing four-quarter earnings surprise of 1.13%, on average.
Factors to Note
In the third quarter, the majority of DUK’s service territories experienced warmer-than-normal temperatures accompanied with drought conditions. This must have boosted electricity demand among the company’s customers for cooling purposes, which in turn are expected to have bolstered its third-quarter top line.
Customer growth, coupled with positive rate case outcomes across various regions, is also anticipated to have favorably impacted Duke Energy’s third-quarter revenues. However, hurricane Ian resulted in major flooding, causing outages in parts of the company’s service territories, which might have had impacted overall Q3 revenues.
The Zacks Consensus Estimate for third-quarter revenues is pegged at $7.19 billion, suggesting growth of 3.5% from the year-ago quarter.
Duke Energy Corporation Price and EPS Surprise
Duke Energy Corporation price-eps-surprise | Duke Energy Corporation Quote
The impacts of hurricane Ian might have damaged Duke Energy’s infrastructure during the third quarter, thereby pushing up its operating expenses. This, in turn, must have dragged down the company’s Q3 earnings.
Moreover, comparatively favorable weather in the third quarter of 2021, higher interest expense, tax timing and lower contributions from Commercial Renewables are projected to have dampened the company’s bottom line in the third quarter.
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.83 per share, indicating a decline of 2.7% from the prior-year reported figure.
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 ESP and 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 -0.41% 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 three Utilities you may want to consider as these have the right combination of elements to post an earnings beat this season:
Ameren Corporation (AEE - Free Report) has an Earnings ESP of +1.41% and a Zacks Rank #3. The Zacks Consensus Estimate for Ameren’s third-quarter earnings is pegged at $1.72 per share, suggesting growth of 4.2% from the year-ago quarter.
The Zacks Consensus Estimate for AEE’s third-quarter sales is pegged at $1.90 billion, indicating growth of 5% from the prior-year reported figure.
Spire (SR - Free Report) has an Earnings ESP of +2.36% and a Zacks Rank #3. The Zacks Consensus Estimate for Spire’s third-quarter loss is pegged at 64 cents per share, suggesting a deterioration from the year-ago quarter.
The Zacks Consensus Estimate for SR’s third-quarter sales is pegged at $280.9 million, implying a decline of 3.2% from the prior-year reported figure.
Northwest Natural Holding Company (NWN - Free Report) has an Earnings ESP of +2.01% and a Zacks Rank #3. The Zacks Consensus Estimate for Northwest’s third-quarter loss is pegged at 75 cents per share, suggesting a deterioration from the year-ago quarter.
The Zacks Consensus Estimate for NWN’s third-quarter sales is pegged at $105.9 million, implying growth of 4.4% from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.