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Post-Earnings Coverage - Duke Energy

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LONDON, August 19, 2014 /PRNewswire/ --

Investor-Edge.com has issued its complimentary post-earnings review on Duke Energy Corporation (NYSE: DUK). The company was featured in the headlines on Thursday, August 07, 2014, as its adjusted diluted earnings per share (EPS) improved twenty four cents year-over-year and operating revenues advanced $70 million year-over-year during the second quarter of 2014. Our free coverage report can be accessed at:


Earnings Overview  

For the second quarter of 2014, Duke Energy Corp.'s operating income improved $295 million year over year to $1,116 million. The company reported total operating expenses of $4,839 million in the quarter, down $220 million year-over-year. The company's cash & cash equivalents balance improved to $2,008 million as on June 30, 2014 from $1,571 million a year-ago. Duke Energy Corp. raised its full year 2014 adjusted earnings guidance range to $4.50-4.65 per share from its prior forecast of $4.45-4.60 per share. The free research on DUK can be downloaded as in PDF format at:


Duke Energy Corp.'s Regulated Utilities segment recognized adjusted income of $689 million in Q2 2014, compared to $590 million in the same period last year. The adjusted income was boosted by factors including higher revenues from new pricing and riders, favorable weather, lower effective tax rate, lower operating maintenance expenses, and an increased wholesale rate margin. These favorable factors were partially offset by higher depreciation, amortization, interest expenses, and lower allowance for funds used during construction (AFUDC) equity. The company's International Energy segment reported Q2 2014 adjusted income of $146 million, compared to $87 million in the prior year period. The segment's improved quarterly earnings were prompted by primarily the favourable results in Latin America mainly due to a tax benefit resulting from the reorganization in its Chile operations, and the improved results at National Methanol Company. Some of the benefits from this segment were relatively offset by unfavorable foreign currency exchange rates. The company's Commercial Power segment recognized Q2 2014 adjusted income of $16 million, compared to a segment loss of $3 million in the year ago period. The improved earnings were driven by higher results from renewable business, Midwest coal and gas generation fleets. Sign up and read the free analyst's notes on DUK at:


Lynn Good, President and Chief Executive Officer at Duke Energy Corp. stated that the company is well positioned to meet is financial objectives in 2014 and beyond, buoyed by second quarter performance and continued focus on operational excellence. She added that the company is committed to maintaining affordable customer rates and to supporting the strength of local communities. Duke Energy's President asserted that the company is executing the strategy to position the business for long-term sustainable growth, benefitting both customers and shareholders.

The Charlotte, North Carolina-based company's total operating revenues came in at $5,949 million in Q2 2014, compared to $5,879 million in the year-ago quarter and Bloomberg consensus estimate of $6,136 million. During the reported period, the electric utilities company recorded net income attributable to Duke Energy Corp. of $609 million, or $0.86 per share as compared to $339 million, or $0.48 per share in the prior year quarter. Meanwhile, the adjusted net income attributable to Duke Energy Corp. for Q2 2014 came in at $786 million, or $1.11 per diluted share, compared with $617 million, or $0.87 per diluted share in the year ago quarter. Bloomberg estimated a net income of $710.67 million or $0.99 per share and adjusted net income of $707.50 million or $0.98 per share for Q2 2014.

Stock Performance 

On the day of the earnings release, Thursday, August 07, 2014, Duke Energy Corp.'s shares gained 1.09% to close the session at $70.60. On Monday, August 18, 2014, Duke Energy Corp.'s shares finished the day at the previous day's closing price of $72.09, after vacillating between $71.92 and $72.65. A total of 1.83 million shares were traded, which was below its three months average volume of 2.74 million shares. Duke Energy Corp.'s shares have advanced 1.64% in the previous three trading sessions, 1.04% in the last three months, and 4.46% on YTD basis. The stock is trading above its 200-day moving average of $70.98, while the 200-day moving average is below Duke Energy Corp.'s 50-day moving average of $72.18. The stock traded at a PE ratio of 15.44 and has a Relative Strength Index (RSI) of 50.19. Visit Investor-Edge and access the latest research on DUK at:


Sneak Peek to Corporate Insider Trading 

On August 01, 2014, Lloyd M. Yates, Duke Energy Corp.'s Executive Vice President - Market Solutions & President - Carolinas Region, sold 300 shares worth $21,672 at an average price of $72.24. Complimentary in-depth research on DUK is available at:


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1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

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