Duke Energy Q1 Earnings Higher Than Estimates, Revenues Rise Y/Y

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$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$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]