Duke Energy Corporation DUK reported first-quarter 2020 adjusted earnings of $1.14 per share, which missed the Zacks Consensus Estimate of $1.21 by 5.8%.Including one-time adjustments, the company reported GAAP earnings of $1.24 per share,which came in line with the year-ago quarter’s figure.The first-quarter results were impacted by mild winter weather along with severe storms amid improvements from electric base rate case increases, growth in new renewable projects and higher rider revenues.Duke Energy Corporation Price, Consensus and EPS Surprise Duke Energy Corporation price-consensus-eps-surprise-chart | Duke Energy Corporation QuoteTotal RevenuesTotal operating revenues came in at $5,949 million, which declined 3.5% from $6,163 million a year ago. The reported figure also missed the Zacks Consensus Estimate of $6,268 million by 5.1%.The Regulated electric unit’s revenues were $5,124 million (down 3.1% year over year), representing 86% of total revenues in the quarter.Revenues from the regulated natural gas business totaled $638 million, down 12.4% year over year.The Non-regulated electric and Other segment generated revenues of $187 million, which improved 24.7% year over year.Operational UpdateDuke Energy’s total operating expenses amounted to $4,462 million in the reported quarter, down 6.8% year over year. The decline was on account of lower natural gas costs as well as reduced operation, maintenance and other expenses. Also, lower expenses related to fuel used in electric generation and purchased power contributed to reduced operating expenses.Operating income increased 8.4% to $1,488 million from $1,373 million in the year-ago quarter.Interest expenses rose to $551 million from $543 million in the year-ago quarter.Segmental HighlightsElectric Utilities & Infrastructure: Adjusted income in the first quarter totaled $705 million, which was lower than $750 million in the year-ago quarter. Gas Utilities & Infrastructure: Adjusted income at this segment totaled $249 million, up from $226 million a year ago.Commercial Renewables: This segment recorded an adjusted income of $57 million in the quarter under review compared with $13 million in the year-ago quarter.Other: The segment includes corporate interest expenses not allocated to other business units, results from Duke Energy’s captive insurance company and other investments.This segment incurred an adjusted loss of $187 million compared with a loss of $89 million in the year-ago quarter.Financial ConditionAs of Mar 31, 2020, Duke Energy had cash & cash equivalents of $1,450 million, up from $311 million as of Dec 31, 2019. Long-term debt was $56.31 billion at the end of first-quarter 2020 compared with $54.99 billion at 2019-end.During the first quarter, the company generated net cash from operating activities of $1,554million compared with $1,239million in the year-ago quarter.GuidanceDuke Energy reiterated its 2020 adjusted EPS guidance. It continues to expect adjusted earnings per share in the range of $5.05-$5.45. The Zacks Consensus Estimate for 2020 earnings is pegged at $5.10 per share, below the mid-point of the company’s projected range.Zacks RankDuke Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Recent Utility ReleasesPublic Service Enterprise Group Inc. PEG reported first-quarter 2020 adjusted operating earnings of $1.03 per share, which came in line with the Zacks Consensus Estimate. The company carries a Zacks Rank #3.FirstEnergy Corporation FE delivered first-quarter 2020 operating earnings of 66 cents per share, which beat the Zacks Consensus Estimate of 64 cents by 3.13%. This company also carries a Zacks Rank #3.NextEra Energy NEE reported first-quarter 2020 adjusted earnings of $2.38 per share, which surpassed the Zacks Consensus Estimate of $2.21 by 7.7%. It holds a Zacks Rank #2 (Buy).Just Released: Zacks’ 7 Best Stocks for TodayExperts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.These 7 were selected because of their superior potential for immediate breakout.See these time-sensitive tickers now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FirstEnergy Corporation (FE): Free Stock Analysis Report Public Service Enterprise Group Incorporated (PEG): Free Stock Analysis Report Duke Energy Corporation (DUK): Free Stock Analysis Report NextEra Energy Inc (NEE): Free Stock Analysis Report To read this article on Zacks.com click here.