Duke Energy Earnings: Revenue Up, Profit Up

S&P 500 (NYSE:SPY) component Duke Energy Corporation (NYSE:DUK) reported higher profit for the third quarter as revenue showed growth. Duke Energy offers electric power and gas distribution operations and other energy services in North and South America.

Earnings season is back and more important than ever. Get our newest CHEAT SHEET stock picks now

Duke Energy Corporation Earnings Cheat Sheet

Results: Net income for the utility-electric power rose to $594 million (85 cents per share) vs. $472 million ($1.06 per share) in the same quarter a year earlier. This marks a rise of 25.8% from the year-earlier quarter.

Revenue: Rose 69.6% to $6.72 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Duke Energy Corporation reported adjusted net income of $1.47 per share. By that measure, the company beat the mean estimate of $1.45 per share. It beat the average revenue estimate of $3.6 billion.

Quoting Management: “Our strong quarterly performance keeps us on track to achieve our targeted 2012 adjusted diluted EPS guidance range of $4.20 to $4.35,” said Jim Rogers, chairman, president and CEO. “We recently celebrated the first 100 days as the ‘new’ Duke Energy and are coming together as one stronger, more efficient organization. Our employees are focused on delivering on our merger commitments to customers, regulators and shareholders. We’re off to a great start.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 7 cents in the second quarter, by 6 cents in the first quarter, and by 9 cents in the fourth quarter of the last fiscal year.

Net income has dropped 15.3% year-over-year on average across the last five quarters. Performance was hurt by a 42.3% decline in the first quarter from the year-earlier quarter.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 1.2% to $3.58 billion from the year-earlier quarter.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 72 cents per share to 64 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. At $4.27 per share, the average estimate for the fiscal year has risen from $4.25 sixty days ago.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

These Stocks Were Bullet Proof from the Election Sell-Off

Is Apple Ripe for Buying Now?

Is Gold Set to Benefit from Obama’s Re-Election?