Duke Energy Q2 Profit Up; Says On Track To Deliver Within FY Guidance Range

(RTTNews) - Duke Energy (DUK) reported that its net income attributable to the company for the second quarter 2017 rose to $686 million or $0.98 per share from $509 million or $0.74 per share in the second quarter of 2016.

Duke Energy's second quarter 2017 adjusted diluted EPS was $1.01, compared to $1.07 for the second quarter of 2016.

Adjusted diluted EPS for the second quarter of 2017 was lower than the prior year , primarily due to the absence of earnings from International Energy , less favorable weather, and higher income tax expense primarily due to a prior year favorable tax resolution. Partially offsetting these drivers were higher retail revenues from increased pricing and riders and stronger retail volumes at Electric Utilities and Infrastructure.

Total operating revenues grew to $5.56 billion from $5.21 billion in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.01 per share and revenues of $5.8 billion for the quarter. Analysts' estimates typically exclude special items.

The company remains on track to achieve its 2017 adjusted earnings guidance range of $4.50 to $4.70 per share. Analysts expect annual earnings of $4.61 per share.