CHARLOTTE, N.C. - Duke Energy Corporation (NYSE: NYSE:DUK), a leading American energy provider, announced its financial results for the first quarter of 2024, surpassing analyst expectations. DUK shares were up 0.29% premarket following the release.
The company reported an adjusted EPS of $1.44, which was $0.06 higher than the analyst consensus of $1.38. Revenue for the quarter also exceeded forecasts, coming in at $7.67 billion against the expected $7.31 billion.
The company's performance in the first quarter indicates a robust start to the year, with revenues showing a notable increase from the same quarter last year. This growth is attributed to Duke Energy's ongoing investments in clean energy and grid upgrades, which align with their long-term strategy for a sustainable energy transition.
Looking ahead to the second quarter of 2024, Duke Energy provided guidance for an adjusted EPS range of $5.85 to $6.10. The midpoint of this guidance, $5.975, is slightly below the analyst consensus of $5.97, suggesting a cautious but stable outlook for the company's near-term performance.
Lynn Good, chair and chief executive officer, commented on the results, stating, "Our strong first-quarter performance reflects our team's commitment to operational excellence and our strategic investments in cleaner energy solutions. We remain focused on delivering value to our customers and shareholders as we progress toward our net-zero emissions goals."
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