Duke Energy Corporation (DUK - Free Report) is slated to report first-quarter 2022 results on May 9 before the opening bell.

In the last reported quarter, the company reported in-line earnings. Duke Energy has a trailing four-quarter earnings surprise of 2.04%, on average.
 

Factors to Note

In the first quarter, DUK’s service territories experienced mixed weather patterns. While some parts had warmer-than-normal temperatures accompanied by extreme drought conditions, in other parts, colder-than-normal temperatures accompanied by moderate-to-heavy snowfall were observed. Thus, the overall weather pattern might have a moderate impact on the utility’s first-quarter top line.

The strong volume buoyed by the recovering economic activities and customer growth, coupled with positive rate case outcomes across various regions, is anticipated to have favorably impacted Duke Energy’s first-quarter revenues.

The Zacks Consensus Estimate for first-quarter revenues is pegged at $6.43 billion, suggesting a growth of 4.6% from the year-ago quarter.

From the cost perspective, the company’s constant efforts to reduce operations and maintenance costs and achieve cost savings are expected to have positively impacted the bottom line of the company. Additionally, the expansion in robust service areas and earnings from infrastructure investments are likely to have added impetus to the first-quarter earnings performance.

However, higher interest expenses might have partially dampened the bottom line in the first quarter.

The Zacks Consensus Estimate for first-quarter earnings is pegged at $1.37 per share, indicating growth of 8.7% from the prior-year reported figure.

Duke Energy Corporation Price and EPS Surprise

Duke Energy Corporation price-eps-surprise | Duke Energy Corporation Quote

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Duke Energy this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. However, that is not the case here.

The company has an Earnings ESP of -2.56% and carries a Zacks Rank #3.