Duke Energy Q4 Results Top Estimates; Reaffirms FY23 Outlook

(RTTNews) - Duke Energy Corp. (DUK) reported on Thursday a net loss available to common stockholders for the fourth quarter of $531 million or $0.71 per share, compared to net income of $732 million or $0.93 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $1.11 per share, compared to $0.88 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $1.07 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter increased to $7.35 billion from $6.12 billion in the same quarter last year. Analysts expected revenues of $5.04 billion for the quarter.

For fiscal 2023, the company continues to expect adjusted earnings in a range of $5.55 to $5.75 per share and extended long-term growth rate of 5 to 7 percent through 2027 off the $5.65 midpoint of 2023 adjusted earnings guidance. The Street is looking for earnings of $5.65 per share for the year.

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