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Duke Energy (DUK) to Post Q1 Earnings: What's in Store?

Duke Energy Corporation DUK is slated to report first-quarter 2022 results on May 9 before the opening bell.

In the last reported quarter, the company reported an earnings surprise of 4.72%. Duke Energy has a trailing four-quarter earnings surprise of 0.66%, on average.

Factors to Note

In the first quarter, DUK’s service territories experienced warmer-than-normal temperatures. These may have hurt the electricity demand for heating purposes from the company’s customers during winter. This may have impacted Duke Energy’s top line in the first quarter.

The strong volume and load growth, buoyed by growth in the residential customer base, are anticipated to have favorably impacted Duke Energy’s first-quarter revenues.

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From the cost perspective, the company’s constant efforts to reduce operation and maintenance costs and achieve cost savings are expected to have positively impacted the bottom line. However, higher interest expenses might have partially dampened the bottom line in the first quarter.

Duke Energy Corporation Price and EPS Surprise

Duke Energy Corporation Price and EPS Surprise
Duke Energy Corporation Price and EPS Surprise

Duke Energy Corporation price-eps-surprise | Duke Energy Corporation Quote

Expectations

The Zacks Consensus Estimate for first-quarter revenues is pegged at $7.32 billion, suggesting growth of 2.7% from the year-ago quarter.

The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.31 per share, indicating growth of 0.8% from the prior-year reported figure.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Duke Energy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.

DUK has an Earnings ESP of 0.00% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are three utilities yet to release their first-quarter results, and you may want to consider them as these have the right combination of elements to post an earnings beat this season:

Brookfield Renewable Partners BEP has an Earnings ESP of +115.39% and a Zacks Rank #3. The Zacks Consensus Estimate for its first-quarter sales, pegged at $692.7 million, implies a decline of 39% from the prior-year quarter’s tally. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Brookfield’s first-quarter earnings is pegged at a loss of 13 cents per share.

PPL Corporation PPL is likely to come up with an earnings beat when it reports first-quarter results on May 4. It has an Earnings ESP of +4.20% and a Zacks Rank #3 at present.

PPL’s long-term earnings growth rate is pegged at 7.42%. The Zacks Consensus Estimate for PPL’s 2023 earnings stands at $1.58 per share, indicating year-over-year growth of 12.06%.

New Jersey Resources Corporation NJR has an Earnings ESP of +1.67% and a Zacks Rank #2. The Zacks Consensus Estimate for its first-quarter sales, pegged at $958.4 million, implies growth of 5.1% from the prior-year quarter’s tally.

NJR has a four-quarter negative earnings surprise of 22.48%. The Zacks Consensus Estimate for its first-quarter earnings is pegged at $1.20 per share, suggesting a decline of 11.8% from the prior-year period.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

PPL Corporation (PPL) : Free Stock Analysis Report

Duke Energy Corporation (DUK) : Free Stock Analysis Report

NewJersey Resources Corporation (NJR) : Free Stock Analysis Report

Brookfield Renewable Partners L.P. (BEP) : Free Stock Analysis Report

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