The recent misfortunes of the petroleum industry took a toll on North Carolina-based Duke Energy Corp. (NYSE: DUK), which fell just a mite short of projections of its quarterly earnings.
The energy company announced first quarter 2017 reported diluted EPS, prepared in accordance with Generally Accepted Accounting Principles of $1.02, compared to $1.01 for the first quarter of 2016. Duke Energy's first-quarter 2017 adjusted diluted EPS was $1.04, compared to $1.13 for the first quarter 2016.
Projections called for earnings of $1.05 on revenue of $6.03 billion. However, based upon the results through the first quarter, the company remains on track to achieve its 2017 adjusted diluted earnings guidance range of $4.50 to $4.70 per share.
A news release heralding the earnings reported Duke Energy's segment structure has been realigned to include the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables.
On a reported and adjusted basis, Electric Utilities and Infrastructure recognized first-quarter 2017 segment income of $635 million, compared to $664 million in the first quarter of 2016, a decrease of $0.03 per share, excluding share dilution of $0.02 cents per share.
Gas Utilities and Infrastructure recognized first-quarter 2017 reported and adjusted segment income of $133 million, compared to $32 million in the first quarter of 2016, an increase of $0.14 per share.
Commercial Renewables recognized first-quarter 2017 segment income of $25 million, compared to $26 million in the prior-year quarter.
Shares in Duke Energy docked 11 cents to $82.82 in late morning trade on Tuesday.
