Utility Giant Duke Energy Gains On Q2 Success: CEO Hails 'Clear Growth Visibility'
Portfolio Pulse from Lekha Gupta
Duke Energy Corporation (NYSE:DUK) reported strong Q2 FY24 results with adjusted EPS of $1.18, beating the consensus of $1.02. Revenues of $7.17 billion also exceeded expectations. The company reaffirmed its FY24 outlook and long-term growth targets. DUK shares rose 1.81% following the news.
August 06, 2024 | 1:40 pm
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POSITIVE IMPACT
Duke Energy reported strong Q2 FY24 results with adjusted EPS of $1.18, beating the consensus of $1.02. Revenues of $7.17 billion also exceeded expectations. The company reaffirmed its FY24 outlook and long-term growth targets.
The strong Q2 results, beating both EPS and revenue expectations, along with the reaffirmation of the FY24 outlook and long-term growth targets, are likely to positively impact DUK's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Duke Energy's strong performance through the Fidelity MSCI Utilities Index ETF (NYSE:FUTY).
As Duke Energy is a significant component of the FUTY ETF, its strong performance is likely to have a positive impact on the ETF's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Duke Energy's strong performance through the SPDR Select Sector Fund – Utilities (NYSE:XLU).
As Duke Energy is a significant component of the XLU ETF, its strong performance is likely to have a positive impact on the ETF's price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50