Duke Energy (NYSE: DUK) gained ground on early Tuesday markets, following the release of its first-quarter financial figures.
The company, out of Charlotte, North Carolina, revealed Tuesday Q1 Non-GAAP EPS of $1.14, which missed by $0.04; GAAP EPS of $1.24 beats by $0.04. Revenue was $5.95 Billion, which was down 3.4% on a year-over-over and which missed by $290 million.
DUK announced its new 2020 adjusted EPS target of $5.25 and guidance range of $5.05 to $5.45. It solidifies and extends our commitment to deliver a long-term growth rate at 4-6% through 2024. And because of growing demand for infrastructure investments, Duke increased its capital plan by 12% to $56 billion – with more than 90% to be spent in our regulated electric and gas businesses, driving strong earnings base growth.
According to CEO Lynn Good, "Our results in 2019 show that the foundation of our business is strong. With important legal and regulatory decisions approaching in 2020, we are committed to producing outstanding operating results for our customers and investors while delivering growth in earnings and dividends in a low-risk, predictable and transparent way."
Duke boasts a status as one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its non-regulated Duke Energy Renewables unit.
DUK shares increased $1.12, or 1.4%, to $82.69
