Duke Energy Corp (DUK): Duke Energy +1.4% after easy Q1 earnings...

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Thursday, 05/10/2018 9:16:22 AM

Thursday, May 10, 2018 9:16:22 AM

Duke Energy +1.4% after easy Q1 earnings beat

May 10, 2018 8:59 AM ET|About: Duke Energy Corporation (DUK)|By: Carl Surran, SA News Editor

Duke Energy (NYSE:DUK) +1.4% premarket as Q1 earnings handily beat expectations and total operating revenue gained 7% Y/Y to $6.1B, helped by higher demand in its electric utilities business.

Q1 income from the Electric Utilities and Infrastructure segment jumped 28% Y/Y to $816M from $635M in the prior-year quarter, helped by a return to normal weather this year compared to the significantly warmer winter weather a year earlier and lower income tax expense.

DUK says its consolidated adjusted effective tax rate for Q1 was 15.7% vs. 32.5% in the year-ago quarter, primarily due to the impacts of the Tax Act.

DUK reaffirms FY 2018 EPS guidance of $4.55-$4.85, in line with $4.72 analyst consensus estimate.
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