雅虎香港財經 Duke Energy (DUK) to Post Q1 Earnings: What's in the Offing?
Duke Energy Corporation DUK is scheduled to release its first-quarter 2024 results on May 7 before market open. The company delivered a negative earnings surprise of 1.95% in the last reported quarter.
Moreover, Duke Energy holds a negative four-quarter average earnings surprise of 3.76%. Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.
Factors at Play
The majority of DUK’s service territories witnessed mixed weather patterns during the January-March 2024 quarter. While some parts observed a warmer-than-normal temperature pattern, below-than-normal temperatures prevailed in other parts, accompanied by moderate snowfall. Such mixed weather patterns are likely to have a moderate impact on DUK’s overall top line.
Duke Energy Corporation Price and EPS Surprise
Duke Energy Corporation price-eps-surprise | Duke Energy Corporation Quote
Adverse weather events like a series of tornadoes and a strong hurricane might have resulted in an outage for some of Duke Energy’s customers during the first quarter. This might have some negative impact on its revenues.
Nevertheless, strong customer growth and rate base growth witnessed in the prior quarters are likely to have contributed to Duke Energy’s first-quarter revenues.
From the cost perspective, operation and maintenance costs to restore damages caused by the adverse weather conditions mentioned above might have an adverse impact on DUK’s first-quarter earnings. Higher interest expenses are likely to have also weighed on the bottom line.
However, favorable returns from prior investments in grid enhancement, along with solid top-line growth expectations, are projected to have benefited DUK’s bottom-line performance in the first quarter.
Q1 Expectations
The Zacks Consensus Estimate for DUK’s first-quarter sales stands at $7.80 billion, which suggests an increase of 7.2% from the year-ago reported number.
The Zacks Consensus Estimate for Duke Energy’s first-quarter 2024 earnings is pegged at $1.41 per share, which implies a rise of 17.5% from the first-quarter 2023 reported figure.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for DUK this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as you will see below.
Earnings ESP: DUK has an Earnings ESP of -1.87%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Duke Energy carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Below we have mentioned the following players from the same sector that have the right combination of elements to beat on earnings in the upcoming releases.
NiSource Inc. NI is set to report first-quarter earnings on May 8 before market open. It has an Earnings ESP of +1.24% and carries a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for NI’s earnings is pegged at 81 cents per share, which calls for a 5.2% improvement from the first-quarter 2023 reported number. The Zacks Consensus Estimate for first-quarter sales is pegged at $2.07 billion.
Clean Energy Fuels CLNE is expected to report its first-quarter 2024 results on May 9 after market close. It has an Earnings ESP of +6.25% and carries a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for CLNE’s first-quarter earnings is pegged at a loss of 3 cents per share, which suggests a significant improvement from the first-quarter 2023 reported loss figure of 7 cents. The Zacks Consensus Estimate for first-quarter sales is pegged at $106.6 million.
Algonquin Power & Utilities AQN is set to report first-quarter earnings on May 10 before market open. It has an Earnings ESP of +2.27% and carries a Zacks Rank of 3 at present.
The Zacks Consensus Estimate for AQN’s earnings is pegged at 15 cents per share. The Zacks Consensus Estimate for first-quarter sales is pegged at $807 million, which suggests a 3.7% increase from the first-quarter 2023 reported number.
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NiSource, Inc (NI) : Free Stock Analysis Report
Duke Energy Corporation (DUK) : Free Stock Analysis Report
Clean Energy Fuels Corp. (CLNE) : Free Stock Analysis Report
Algonquin Power & Utilities Corp. (AQN) : Free Stock Analysis Report
