Duke Energy Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Duke Energy Corp (NYSE:DUK) will unveil its latest earnings on Thursday, November 3, 2011. Duke Energy offers electric power and gas distribution operations and other energy services in North and South America.

Duke Energy Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 47 cents per share, a decline of 7.8% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate moved down. It has risen from 46 cents during the last month. For the year, analysts are projecting profit of $1.38 per share, a decline of 3.5% from last year.

Past Earnings Performance: The company has beaten estimates the last two quarters and is coming off a quarter where it topped the forecasts by 3 cents, reporting net income of 33 cents per share against a mean estimate of profit of 30 cents. In the first quarter, the company exceeded forecasts by 4 cents with net income of 39 cents versus a mean estimate of profit of 35 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 2.8% in revenue from the year-earlier quarter to $4.06 billion.

Analyst Ratings: Analysts seem relatively indifferent about Duke Energy with 15 of 16 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, the company swung to a profit of $435 million (33 cents a share) from a loss of $222 million (17 cents) a year earlier, beating analyst estimates. Revenue rose 7.5% to $3.53 billion from $3.29 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 1.9% in the first quarter from the year earlier, climbed 10.8% in the fourth quarter of the last fiscal year from the year-ago quarter and 16.2% in the third quarter of the last fiscal year.

Competitors to Watch: American Electric Power Co., Inc. (NYSE:AEP), Progress Energy, Inc. (NYSE:PGN), DPL Inc. (NYSE:DPL), The Southern Company (NYSE:SO), PPL Corporation (NYSE:PPL), SCANA Corporation (NYSE:SCG), TECO Energy, Inc. (NYSE:TE), FirstEnergy Corp. (NYSE:FE), ALLETE, Inc. (NYSE:ALE), and Dominion Resources, Inc. (NYSE:D).

Stock Price Performance: During August 4, 2011 to October 28, 2011, the stock price had risen $2.69 (15.1%) from $17.77 to $20.46. The stock price saw one of its best stretches over the last year between October 13, 2011 and October 21, 2011 when shares rose for seven-straight days, rising 3.8% (+75 cents) over that span. It saw one of its worst periods between November 4, 2010 and November 17, 2010 when shares fell for 10-straight days, falling 3.8% (-67 cents) over that span. Shares are up $3.35 (+19.6%) year to date.

(Source: Xignite Financials)

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