CHARLOTTE – Duke Energy Corp. (DUK) on Monday reported first-quarter net income of $992 million. And CEO Lynn Good likes what her firm reported.
“We’re off to a very strong start in 2021, executing well and delivering on our commitments to our customers, communities and investors,” Good said in a statement. “We are positioned to deliver sustainable long-term value as we accelerate our clean energy transformation by investing in renewables, battery storage and in our delivery system. As a result, we have reaffirmed our 2021 adjusted EPS guidance range of $5.00 to $5.30 and long-term growth rate of 5% to 7%, off the 2021 midpoint.
The Charlotte-based company said it had profit of $1.25 per share. Earnings, adjusted for non-recurring costs, were $1.26 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The electric utility posted revenue of $6.15 billion in the period.
Duke Energy expects full-year earnings in the range of $5 to $5.30 per share.
Duke Energy shares have risen 10% since the beginning of the year, while the S&P’s 500 index has risen 13%. The stock has climbed 23% in the last 12 months.
