Duke Energy Corp. on May 10 reported adjusted earnings of $1.28 per share in the first quarter, a gain from $1.04 per share in the prior-year period.

The results beat the S&P Capital IQ consensus normalized earnings estimate for the quarter of $1.14 per share by 14 cents.

"2018 is off to a strong start — we delivered solid financial results for the first quarter and took steps to further strengthen our credit quality, enabling us to make smart investments for our customers," Duke Energy Chairman, President and CEO Lynn Good said. "We reached constructive outcomes in several regulatory cases and started construction of the Atlantic Coast Pipeline, which will support economic growth in the Southeast."

GAAP net income attributable to the company was $620 million, or 88 cents per share, down from $716 million, or $1.02 per share, in the corresponding quarter of 2017.

Operating revenues were $5.32 billion, an increase from $4.95 billion a year prior. Duke Energy reported operating income of $1.16 billion, a decrease from $1.19 billion a year earlier.

Duke Energy affirmed its 2018 adjusted EPS guidance of $4.55 to $4.85.