Duke Energy Corporation (NYSE:DUK) stock is trading is trading higher Tuesday. The company reported second quarter earnings before the market opened today.
What To Know: The company reported adjusted earnings per share of $1.25, beating the consensus estimate of $1.23. In addition, the company reported sales of $7.50 billion, beating the consensus estimate of $7.23 billion.
Electric Utilities and Infrastructure segment income rose to $1.19 billion, up from $1.12 billion a year ago, as new rates offset higher operating and interest expenses. Gas Utilities and Infrastructure income remained flat at $6 million, with gains from rate increases balanced by higher O&M and depreciation costs.
The company said proceeds from two recent strategic transactions, an equity investment in Duke Energy Florida and the sale of its Piedmont Tennessee business, will help bolster its credit profile and fund expanded capital deployment to meet growing demand.
FY25 Outlook: The company affirmed its guidance of adjusted earnings per share between $6.17 and $6.42, versus the consensus estimate of $6.32.
See Also: For Hong Kong’s Dollar Tree Equivalent, A Turnaround Looks Unlikely
DUK Price Action: At the time of writing, Duke shares are trading 1.38% higher at $125.88, according to data from Benzinga Pro.
Image via Shutterstock
