Duke Energy Corp. recorded second-quarter 2017 adjusted EPS of $1.01, compared with adjusted EPS of $1.07 for the comparable quarter of 2016.
The S&P Capital IQ consensus estimate for normalized EPS was $1.01.
Duke reported second-quarter 2017 adjusted net income attributable to the company of $707 million, compared to $739 million in second-quarter 2016.
The result was lower than the year-ago period due to the absence of earnings from International Energy, less favorable weather and higher income tax expense due to a prior-year favorable tax resolution, according to an Aug. 3 earnings release.
By segment, the company's electric utilities recorded a $25 million year-over-year increase in second-quarter 2017 adjusted segment income to $729 million, compared to $704 million in the year-ago period. Adjusted segment income at Duke's commercial renewables portfolio was up $15 million year over year to $26 million during the most recent quarter, compared to $11 million in the corresponding quarter of 2016.
Duke's gas utilities segment contributed $27 million toward second-quarter 2017 adjusted segment income, compared with $16 million a year ago. The increase was attributed to higher earnings from midstream pipeline investments.
On a GAAP basis, Duke's second-quarter 2017 EPS surged year over year to 98 cents, from 74 cents in the prior-year period.
Second-quarter operating revenues were down year over year to $5.56 billion, compared to $5.21 billion in the same period of 2016. Operating income was up to $1.39 billion, compared to $ 1.26 billion in the comparable quarter of 2016.
The company continues to target full-year 2017 adjusted EPS in the range of $4.50 to $4.70.