Eight of the 12 S&P 500 utilities companies that reported quarterly results this week surpassed earnings expectations, while two fell short and two met estimates. On the revenue side, five companies beat Wall Street forecasts. The State Street Utilities Select Sector SPDR ETF fell over 2% for the week, compared to the S&P 500’s 1.5% rise. Duke Energy exceeded second-quarter profit expectations on stronger electricity demand and rate-based infrastructure returns, Vistra Corp posted a revenue drop as unrealized commodity hedge losses outweighed power generation gains, Constellation Energy reported better-than-expected adjusted earnings and raised its full-year operating earnings forecast, and Consolidated Edison beat profit estimates on strong electricity demand.
