Duke Energy Tops Estimates

Duke Energy (NYSE: DUK) announced its results for the second quarter on August 2, 2011. Let's take a closer look at the company's industry, financials, and commentary and see what steps you can take next.

Earnings and Revenue:
Duke Energy managed to exceed Wall Street estimates with stronger-than-expected EPS and revenues. The company reported EPS of adjusted net income of 33 cents/share versus the 30 cents/share estimate and revenues of $3.53 billion versus the $3.31 billion estimate. EPS bounced back from a loss of $0.17/share in the year-ago quarter while revenue climbed 7.5% from the same period last year.

Duke Energy's revenue has increased the past four quarters on a year-over-year basis.

Income:
For the year, Duke Energy reported net income of $1.44/share. The company trumped analyst projections of $1.34 by 7.5%.

Conference Call:
The conference call for second quarter earnings can be accessed here.

Official Comment:
"Our second quarter results continue the positive momentum created by all of our business units in the first three months of the year," said James E. Rogers, chairman, president and chief executive officer. "Traditionally, our third quarter is the most significant and we are focused to ensure we are fully prepared to safely, reliably and efficiently meet customers' energy needs. We also will be working hard the remainder of the year on our proposed merger with Progress Energy; pending rate cases in the Carolinas; ongoing fleet modernization; and in pursuing a new Electric Security Plan (ESP) for Duke Energy Ohio customers," he added. "All of these strategic initiatives will help prepare our company for long-term success."

Industry:
The utility-electric power company's industry is currently enjoying price/earnings growth of 22.1%. The company's EPS lags behind the industry average by 95.7%.

What to Do Next:
Now that you've gotten a round up of Duke Energy's latest numbers, you can make a better-informed decision about whether to buy, sell or hold those shares. Whatever you do, be sure to visit us before the company's next earnings release for a full preview.

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