Core Insights - Duke Energy Corporation (DUK) reported first-quarter 2025 earnings of $1.76 per share, exceeding the Zacks Consensus Estimate of $1.59 by 10.7% and improving 22.2% from $1.44 per share in the same quarter last year, driven by higher retail sales volumes and new rates [1][3] - Total operating revenues reached $8.25 billion, a 7.5% increase from $7.67 billion in the previous year, also surpassing the Zacks Consensus Estimate of $8.06 billion by 2.3% [1][2] Revenue Breakdown - The Regulated electric unit generated operating revenues of $7.06 billion, up 4.9% year over year, contributing 85.6% to total revenues [2] - Revenues from the Regulated natural gas business totaled $1.11 billion, reflecting a significant increase of 27.6% year over year [2] - The Non-regulated Electric and Other segment produced revenues of $80 million, which is a 9.6% year-over-year increase [2] Expense and Income Analysis - Total operating expenses for the quarter were $5.91 billion, up 3.4% year over year, primarily due to increased costs in natural gas, operation, maintenance, depreciation, and property taxes [3] - Operating income rose 19.4% to $2.34 billion from $1.96 billion in the same quarter last year [3] Customer and Sales Metrics - Interest expenses increased to $889 million from $817 million in the first quarter of 2024 [4] - The average number of customers in Electric Utilities grew by 1.7% year over year [4] - Total electric sales volumes increased by 7.6% year over year, reaching 65,242 gigawatt-hours [4] Segment Performance - Electric Utilities & Infrastructure segment earnings totaled $1,276 million, up from $1,021 million in the first quarter of 2024 [5] - Gas Utilities & Infrastructure segment earnings were $349 million, compared to $284 million in the previous year [5] - The Other segment incurred a loss of $260 million, worsening from a loss of $203 million in the first quarter of 2024 [6] Financial Position - As of March 31, 2025, cash and cash equivalents stood at $475 million, up from $314 million on December 31, 2024 [7] - Long-term debt increased to $79.70 billion from $76.34 billion as of December 31, 2024 [7] - Net cash from operating activities for the first three months of 2025 was $2.18 billion, down from $2.47 billion in the same period last year [7] Future Guidance - Duke Energy reaffirmed its 2025 adjusted EPS guidance, expecting a range of $6.17-$6.42, with the Zacks Consensus Estimate at $6.32 per share [9] - The company projects long-term EPS growth of 5-7% through 2029 [9]

Financial Performance - GAAP reported EPS and adjusted EPS for the three months ended March 31, 2025, were $1.76, an increase from $1.44 for the same period in 2024, primarily due to higher retail sales volumes and new rates [361]. - Net income for Progress Energy increased by $111 million to $546 million for the three months ended March 31, 2025 [384]. - The net income for the three months ended March 31, 2025, was $1,404 million, an increase of $253 million from $1,151 million in the prior year [423]. Revenue and Sales Growth - Operating revenues for Electric Utilities and Infrastructure segment increased to $7,140 million for the three months ended March 31, 2025, compared to $6,803 million in 2024, reflecting a variance of $337 million [366]. - Operating revenues for Duke Energy Carolinas increased by $117 million to $2,524 million for the three months ended March 31, 2025, compared to $2,407 million in 2024 [379]. - Duke Energy Progress reported operating revenues of $2,018 million for Q1 2025, an increase of $230 million (12.9%) compared to $1,788 million in Q1 2024 [390]. - Duke Energy Florida's operating revenues were $1,444 million in Q1 2025, a slight increase of $8 million (0.6%) from $1,436 million in Q1 2024 [394]. - Duke Energy Ohio's total operating revenues reached $766 million in Q1 2025, an increase of $88 million (13.0%) from $678 million in Q1 2024 [400]. - Duke Energy Indiana reported operating revenues of $858 million in Q1 2025, up $99 million (13.0%) from $759 million in Q1 2024 [404]. - Piedmont's operating revenues increased to $857 million in Q1 2025, a rise of $181 million (26.8%) compared to $676 million in Q1 2024 [410]. Operating Income and Expenses - Segment income for Electric Utilities and Infrastructure was $1,276 million for the three months ended March 31, 2025, up from $1,021 million in 2024, representing an increase of $255 million [366]. - Operating income for Duke Energy Carolinas rose by $98 million to $703 million, driven by higher pricing and improved weather conditions [379]. - The total operating expenses for Duke Energy Progress were $1,540 million in Q1 2025, up $155 million (11.2%) from $1,385 million in Q1 2024 [390]. - The increase in operating expenses for Duke Energy was primarily driven by a $142 million rise in the cost of natural gas due to higher rates and volumes [375]. - Total operating expenses for Duke Energy Carolinas were $1,821 million, a slight increase of $18 million compared to the previous year [379]. Customer Growth - The average number of customers for Duke Energy increased by 2.0% year-over-year [380]. - The average number of customers for Duke Energy Progress increased by 1.9% in Q1 2025 compared to the prior year [391]. - The average number of customers increased by 1.8% year-over-year [411]. Regulatory and Legal Matters - The company is pursuing cost recovery for future expenditures related to EPA regulations on GHG emissions through normal ratemaking processes [353]. - Duke Energy's nuclear sites received renewed licenses allowing operation for an additional 20 years, with Oconee approved to operate through 2053 and 2054 [351]. - Duke Energy Ohio's anticipated passage of Ohio Substitute House Bill 15 will eliminate the Legacy Generation Rider, negatively impacting future recoverable losses from the Inter-Company Power Agreement with OVEC [354]. - The company is actively participating in legal challenges regarding new EPA regulations affecting GHG emissions and coal combustion residuals [430][431]. Cash Flow and Liquidity - Net cash provided by operating activities was $2,177 million, a decrease of $297 million from $2,474 million in the same period last year [421]. - Issuances of long-term debt increased by $1,011 million to $3,100 million compared to $2,089 million in the same period last year [428]. - As of March 31, 2025, Duke Energy had $475 million in cash on hand and $7.8 billion available under its Master Credit Facility [416]. - Duke Energy expects to have sufficient liquidity to support its funding needs through cash on hand, cash from operations, and available credit capacity [416]. Storm Recovery and Costs - The company anticipates storm cost recovery of approximately $1.1 billion over 12 months beginning in March 2025 due to significant storm damage from hurricanes Debby, Helene, and Milton [351]. - Operating revenues for the three months ended March 31, 2025, were impacted by a $102 million increase in natural gas costs and a $72 million increase due to base rate increases in North Carolina [413].

Duke Energy (DUK) Q1 2025 Earnings Call May 06, 2025 10:00 AM ET Company Participants Abby Motsinger - VP - Investor RelationsHarry Sideris - President & CEOBrian Savoy - Executive VP & CFOShahriar Pourreza - Senior Managing Director - Head of Energy/Power/UtilitiesDurgesh Chopra - Managing DirectorCarly Davenport - Vice President, Equity Research Conference Call Participants Julien Dumoulin-Smith - Research Analyst Operator Hello, everyone, and thank you for joining the Duke Energy First Quarter twenty twe ...

Duke Energy (DUK) Q1 2025 Earnings Call May 06, 2025 10:00 AM ET Speaker0 Hello, everyone, and thank you for joining the Duke Energy First Quarter twenty twenty five Earnings Call. My name is Sami, and I'll be coordinating your call today. I would now like to hand over to your host, Abby Motzinger, VP, Investor Relations, to begin. Please go ahead, Abby. Speaker1 Thank you, Sammy, and good morning, everyone. Welcome to Duke Energy's first quarter twenty twenty five earnings review and business update. Leadi ...

Duke Energy (DUK) came out with quarterly earnings of $1.76 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.44 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.69%. A quarter ago, it was expected that this electric utility would post earnings of $1.61 per share when it actually produced earnings of $1.66, delivering a surprise of 3.11%.Over the last four quarters, the compa ...

Q1 / 2025 Earnings Review and Business Update Harry Sideris / President and CEO Brian Savoy / Executive Vice President and CFO May 6, 2025 // 1 Safe Harbor statement FIRST QUARTER 2025 EARNINGS REVIEW AND BUSINESS UPDATE // 2 Safe harbor statement This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be ...

News Release Media Contact: Gillian Moore 24-Hour: 800.559.3853 Analyst Contact: Abby Motsinger Office: 704.382.7624 May 6, 2025 Duke Energy reports first-quarter 2025 financial results CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced first-quarter 2025 reported EPS, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $1.76. This is compared to reported and adjusted EPS of $1.44 for the first quarter of 2024. Adjusted EPS excludes the impact of certain i ...

Julie Janson, EVP and CEO, Duke Energy Carolinas, to retire after a distinguished 37-year career with the company Kodwo Ghartey-Tagoe, Alex Glenn and Louis Renjel to be appointed to new leadership positions, reflecting the depth of Duke Energy's leadership team Cameron McDonald to join the company's senior management committeeCHARLOTTE, N.C., May 2, 2025 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced a series of leadership appointments to further advance the company's strategy and ensure it is bes ...

Financial Data and Key Metrics Changes - Duke Energy increased its capital plan to $83 billion over the next five years, one of the largest regulated plans in the industry [28] - The company reported a consistent annual growth rate of 5% to 7% and has paid a dividend for 99 consecutive years [30][42] Business Line Data and Key Metrics Changes - The company avoided over 2.3 million customer outages and more than 11 million hours of total outage time through grid improvements [29] - Duke Energy provided nearly $148 million in energy bill assistance, supporting over 210,000 households [30] Market Data and Key Metrics Changes - The company reported that all residential rates across its regions are below the national average [46] - The stock price has ranged from $100 to $120 per share over the last six months, which is considered affordable for small investors [44] Company Strategy and Development Direction - Duke Energy is focused on delivering value for customers and shareholders by investing in reliability, resiliency, and affordability [28] - The company is advancing new generation through integrated resource plans and plans to add five gigawatts of new natural gas generation by 2029 [32] Management's Comments on Operating Environment and Future Outlook - The CEO emphasized the pivotal moment for the industry, highlighting unprecedented growth potential and the importance of a growth mindset [27] - Management is committed to a flexible strategy that includes proven technologies like natural gas and nuclear, as well as emerging technologies [70] Other Important Information - The company has invested over $10 billion in grid resiliency and storm hardening over the last three years [34] - Duke Energy's nuclear facilities provide over 50% of the energy needs for the Carolinas and are the lowest cost generation asset [72] Q&A Session All Questions and Answers Question: When will be the next dividend increase? - The company is committed to growing the dividend, with historical increases occurring around the third quarter [42] Question: Is there any plans for a stock split in the near future? - Currently, there are no plans for a stock split, but the company will continue to evaluate this over time [44] Question: Why is Duke Energy repeatedly asking for price increases when service is questionable? - The company is focused on affordability and reliability, making substantial investments to modernize the grid [45] Question: Why do almost 50% of board members serve on multiple boards? - The board has a mix of industry and non-industry experience, which enriches deliberations and governance [48] Question: Why is it necessary to have so many members on the Board of Directors? - The board size aligns with industry standards and is necessary due to the complexity of the business [51] Question: Why do we give shares to executives and directors? - Compensation is structured to be market competitive, with a mix of cash and stock to align interests with shareholders [56] Question: Why was the program providing matching funds to retirees eliminated? - The company is focused on streamlining operations while still supporting communities through the Duke Energy Foundation [64] Question: Will you please stop all DEI activities? - The company values diversity and inclusion as a strength that benefits employees and customers [66] Question: How will management proceed if reaching net zero is unreasonably expensive? - The company will remain flexible and focus on reliability and affordability while exploring diverse resources [70] Question: How does nuclear power fit in with zero carbon energy generation? - Nuclear power is a vital asset, providing low-cost, reliable, and carbon-free energy, and the company aims to extend the lives of its nuclear plants [72]

Duke Energy Corporation (DUK) is scheduled to release its first-quarter 2025 results on May 6, before market open.The company delivered an earnings surprise of 3.11% in the last reported quarter. Moreover, DUK holds a four-quarter average earnings surprise of 4.30%. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Factors at Play Ahead of DUK’s Q1 ResultsThe majority of DUK’s service territori ...