Progress Energy Inc. Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Progress Energy, Inc. (NYSE:PGN) will unveil its latest earnings on Thursday, February 16, 2012. Progress Energy is an integrated electric utility that generates, transmits, and distributes power in portions of North Carolina, South Carolina, and Florida.

Progress Energy, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 52 cents per share, a rise of 15.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 51 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 52 cents during the last month. Analysts are projecting profit to rise by 1.3% versus last year to $3.10.

Past Earnings Performance: Last quarter, the company missed estimates by 8 cents, coming in at net income of $1.16 per share versus a mean estimate of profit of $1.24 per share. In the second quarter, the company beat estimates by 8 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 2.2% in revenue from the year-earlier quarter to $2.37 billion.

Analyst Ratings: Analysts seem relatively indifferent about Progress Energy with 12 of 12 analysts surveyed maintaining a hold rating.

A Look Back: In the third quarter, profit fell 19.4% to $291 million (98 cents a share) from $361 million ($1.23 a share) the year earlier, missing analyst expectations. Revenue fell 7.3% to $2.75 billion from $2.96 billion.

Key Stats:

For three quarters in a row, revenue has declined. Revenue fell 4.9% in second quarter from the year earlier and 14.5% in the first quarter.

Stock Price Performance: Between November 14, 2011 and February 10, 2012, the stock price rose $1.38 (2.6%), from $53.24 to $54.62. The stock price saw one of its best stretches over the last year between March 17, 2011 and March 30, 2011, when shares rose for 10 straight days, increasing 5.3% (+$2.24) over that span. It saw one of its worst periods between May 17, 2011 and May 26, 2011 when shares fell for eight straight days, dropping 3.3% (-$1.59) over that span.

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

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