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Duke Energy misses 1Q profit forecasts

CHARLOTTE, N.C. (AP) _ Duke Energy Corp. (DUK) on Tuesday reported first-quarter profit of $716 million.

The Charlotte, North Carolina-based company said it had profit of $1.02 per share. Earnings, adjusted for non-recurring costs, came to $1.04 per share.

The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.06 per share.

The electric utility posted revenue of $5.73 billion in the period.

Duke Energy expects full-year earnings in the range of $4.50 to $4.70 per share.

Duke Energy shares have risen roughly 7 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 7 percent. The stock has risen 4.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DUK at https://www.zacks.com/ap/DUK

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Keywords: Duke Energy, Earnings Report