Financial Data and Key Metrics Changes - The company reported adjusted earnings per share (EPS) of $5.90 for 2024, finishing within the guidance range [6][24] - Updated guidance for 2025 EPS is set between $6.17 and $6.42, with a midpoint of $6.30, representing approximately 7% growth over 2024 [7][24] - The five-year capital plan has increased to $83 billion, driving an expected 7.7% annual earnings-based growth through 2029 [7][30][32] Business Line Data and Key Metrics Changes - The electric segment is expected to benefit from constructive rate case outcomes and a new multi-year rate plan in Florida, alongside growth from grid riders in the Midwest and Florida [25][63] - The gas segment's growth will be driven by the Piedmont, North Carolina rate case, and annual rate mechanisms in South Carolina and Tennessee [26][64] - The company anticipates annual load growth of 1.5% to 2% in 2025, with an acceleration to 3% to 4% starting in 2027 [27][28] Market Data and Key Metrics Changes - The company has a robust economic development pipeline, particularly in the Carolinas, with expected growth of 4% to 5% in that region [28][65] - The near-term pipeline includes over seven gigawatts of advanced manufacturing and data center projects, with a broader pipeline at least double that size [115] Company Strategy and Development Direction - The company is executing an all-of-the-above generation strategy, focusing on dispatchable natural gas and substantial investments in renewables [19][56] - The capital plan emphasizes infrastructure spending to support growing jurisdictions and regulatory processes [8][30] - The company aims to maintain a strong balance sheet and credit ratings, targeting 14% funds from operations (FFO) to debt by the end of 2025 [33][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position and growth opportunities, particularly in light of regulatory approvals and infrastructure investments [8][22] - The company is optimistic about the future, with a commitment to delivering strong earnings and cash flows for investors [7][45] - Management noted that discussions with hyperscalers indicate no pullback in their plans, with an acceleration in projects related to cloud computing and AI [88][92] Other Important Information - The company has a strong track record of regulatory execution, with $45 billion of rate-based investments approved [46] - The company has efficiently monetized over $500 million in energy tax credits in 2024, benefiting customers over time [36] - This year marks the 99th consecutive year of paying a quarterly cash dividend, underscoring the company's commitment to shareholders [37] Q&A Session Summary Question: Can you clarify the EPS CAGR and credit metric targets? - Management indicated that there is an opportunity to earn in the top half of the EPS growth range due to accelerating load growth and a strong economic development pipeline [82][84] Question: Any changes in customer conversations regarding spending needs? - Management reported confidence in their plans, with hyperscalers full speed ahead and discussions indicating an acceleration in projects [88][92] Question: How does legislation in South Carolina impact the company's plans? - Management stated that they do not anticipate changes to their plans from current legislation but are engaged in discussions to support the dual state system [105] Question: What is the pipeline of data center activity? - Management confirmed a wealth of opportunity in economic development, with a near-term pipeline of over seven gigawatts and a broader pipeline that continues to grow [115] Question: How does the company plan to drive cost efficiencies? - Management emphasized a strong continuous improvement culture and the use of technology to manage costs effectively while maintaining a competitive position [129][132]

Financial Performance & Guidance - Duke Energy's 2024 reported earnings per share (EPS) was $5.71, while the adjusted EPS was $5.90[9] - The company projects a 2025 adjusted EPS guidance range of $6.17 to $6.42[10, 25] - Duke Energy aims for a long-term EPS growth of 5% to 7% through 2029, based off the midpoint of the 2025 guidance range which is $6.30[11, 42] Capital Expenditure & Growth - Duke Energy plans a $83 billion 5-year capital expenditure (CAPEX) plan, which is a ~12% increase from the prior CAPEX plan[11, 34, 49] - This CAPEX plan is expected to drive ~7.7% earnings base growth[11, 35, 36] - The company is investing ~$37 billion in its grid over the next five years[19] Load Growth & Customer Base - Duke Energy anticipates a 1.5% to 2% total retail electric volumes growth in 2025[28] - Enterprise load growth is expected to be 1.5% - 2% in 2025 & 2026E, accelerating to 3% - 4% from 2027-2029E[29] - Carolinas load growth is projected at ~2% in 2025 & 2026E, increasing to 4% - 5% from 2027-2029E[31] - Customer growth in the Carolinas was 2.4% and in Florida was 2.3% from 2023 to 2024[32] Balance Sheet & Credit Metrics - Duke Energy delivered a 13.9% Funds From Operations (FFO) / Debt in 2024 and is targeting 14% by the end of 2025[40] - The company expects total equity issuances of $6.5 billion over the 5-year plan, including $1 billion in 2025[40] - The company is targeting a HoldCo debt / total debt ratio in the low 30's[40]

Core Insights - Duke Energy Corporation (DUK) reported fourth-quarter 2024 adjusted earnings of $1.66 per share, exceeding the Zacks Consensus Estimate of $1.61 by 3.1% and showing a 9.9% increase from $1.51 per share in the same quarter last year, driven by rate increases and riders [1][2] Financial Performance - Total operating revenues for the fourth quarter reached $7.36 billion, a 2.1% increase from $7.21 billion year-over-year, but fell short of the Zacks Consensus Estimate of $7.72 billion by 4.7% [3] - The Regulated electric unit's operating revenues were $6.53 billion, up 0.9% year-over-year, contributing 88.8% to total revenues, while revenues from the Regulated natural gas business totaled $741 million, reflecting a 13.1% year-over-year increase [3] - For the full year 2024, total revenues amounted to $30.36 billion, a 4.5% increase from $29.06 billion in 2023, but missed the Zacks Consensus Estimate of $30.64 billion [4] Operating Expenses and Income - Total operating expenses for the reported quarter were $5.25 billion, down 2.1% year-over-year, primarily due to lower fuel and purchased power costs [5] - Operating income increased by 13.9% to $2.11 billion from $1.86 billion in the previous year [5] Customer and Sales Metrics - The average number of customers in Electric Utilities increased by 1.8% year-over-year, with total electric sales volumes rising 0.8% to 60,308 gigawatt-hours [6] Segment Performance - Adjusted earnings from the Electric Utilities & Infrastructure segment totaled $1,238 million, up from $1,115 million in the fourth quarter of 2023 [7] - The Gas Utilities & Infrastructure segment generated earnings of $231 million compared to $192 million in the prior year [7] - The Other segment incurred a loss of $186 million, worsening from a loss of $133 million in the fourth quarter of 2023 [8] Financial Condition - As of December 31, 2024, cash and cash equivalents stood at $314 million, up from $253 million a year earlier, while long-term debt increased to $76.34 billion from $72.45 billion [9] - The company generated net cash from operating activities of $12.28 billion in 2024, compared to $9.88 billion in the same period last year [9] Future Guidance - Duke Energy provided 2025 adjusted EPS guidance in the range of $6.17-$6.42, with the Zacks Consensus Estimate for 2024 earnings at $6.33 per share, higher than the midpoint of the projected range [10] - The company anticipates long-term EPS growth of 5-7% through 2029 [10]

Duke Energy (DUK) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.61 per share. This compares to earnings of $1.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.11%. A quarter ago, it was expected that this electric utility would post earnings of $1.73 per share when it actually produced earnings of $1.62, delivering a surprise of -6.36%.Over the last four quarters, the compa ...

CHARLOTTE, N.C., Feb. 13, 2025 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its fourth-quarter and year-end 2024 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.Lynn Good, chair and chief executive officer, Harry Sideris, president, and Brian Savoy, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. E ...

Media Contact: Gillian Moore 24-Hour: 800.559.3853 News Release Analyst Contact: Abby Motsinger Office: 704.382.7624 February 13, 2025 Duke Energy reports fourth-quarter and full-year 2024 financial results CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced 2024 full-year reported EPS of $5.71, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $5.90. This is compared to reported and adjusted EPS of $3.54 and $5.56, respectively, for the full-year 2023. A ...

Financial assistance programs, incentives and rates – and even low-cost or no-cost energy efficiency tips – can offset higher-than-average electric billsST. PETERSBURG, Fla., Feb. 12, 2025 /PRNewswire/ -- Duke Energy Florida is sharing various resources to help customers manage their increased energy usage in January, when extreme winter weather swept across the state, which may have resulted in some receiving higher-than-average electric bills."While Duke Energy Florida lowered rates by nearly $10 in Janu ...

Core Points - Duke Energy is providing $200,000 in grants to support organizations in South Carolina that assist the aging population, particularly those facing income challenges [1][4] - The grants will help improve infrastructure and expand services for seniors, ensuring they have access to essential resources [2][3] - A total of 20 organizations received $10,000 each, contributing to over 1,400 meals provided by Meals on Wheels and enabling mobility for seniors through wheelchair ramp construction [2][5] Funding and Impact - The funding is part of a broader initiative by Duke Energy Foundation, which has distributed more than $300,000 over the past two years to support senior programs [4][3] - Previous grants included up to $20,000 for home repairs to help seniors remain in their homes and an additional $100,000 for organizations with home ramp programs [3][4] - The grants were awarded following a request for proposals process initiated in January [2] Organizational Support - The organizations receiving grants include Meals on Wheels, United Way, and various county councils on aging, all focused on enhancing the quality of life for seniors [5][2] - Duke Energy Foundation aims to meet community needs through philanthropic support, contributing over $30 million annually [7] - Duke Energy serves 8.4 million customers across multiple states and is committed to a clean energy transition while maintaining service reliability and affordability [8][9]

Core Insights - Duke Energy Florida is promoting free Home Energy Checks and Business Energy Checks to help customers reassess their energy goals and benefit from rebate programs that can lead to significant savings on electric bills [1][2] Home Energy Checks - Residential customers can complete Home Energy Checks online, over the phone, or in person, all at no cost [3] - After the assessment, customers receive a report detailing their energy usage and recommendations for improving energy efficiency, along with a free energy efficiency kit every two years [4] - Customers may qualify for rebate programs that can save them up to $1,700 on home improvements, including attic insulation upgrades and HVAC replacements [5] Business Energy Checks - Commercial customers can opt for a free Business Energy Check through a brief online questionnaire or a more detailed on-site analysis [6] - Following the Business Energy Check, customers receive a personalized report and a business-specific energy efficiency kit at no cost [6] - Businesses may also qualify for rebate programs to support energy efficiency projects, such as retrofitting chiller systems and installing energy recovery ventilation [7] Customer Support - Duke Energy Florida offers various tools, including energy checks and flexible payment plans, to help manage energy use and keep bills low [8] - Additional assistance programs are available for residential customers, such as the Weatherization Program and the Share the Light Fund® [8] Company Overview - Duke Energy Florida, a subsidiary of Duke Energy, has an energy capacity of 12,300 megawatts and serves 2 million customers across a 13,000-square-mile area in Florida [10] - Duke Energy is one of the largest energy holding companies in the U.S., serving 8.4 million customers across multiple states and owning 54,800 megawatts of energy capacity [11] - The company is committed to a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050, with investments in grid upgrades and cleaner energy sources [12]

Core Insights - Duke Energy has been recognized by Fortune magazine as one of the World's Most Admired Companies for 2025, marking the eighth consecutive year on the list and ranking among the top four gas and electric utilities for the fourth year in a row [1][2] Company Performance Highlights - In 2024, Duke Energy's smart, self-healing technology prevented over 2.3 million customer outages, saving approximately 11 million hours of outage time, with more than 75% of these benefits occurring during major storms [3] - The company has invested over $22 million since 2019 to support nonprofits and local organizations focused on disaster preparedness and response, enhancing community resilience and safety [4] - Duke Energy anticipates an average overall load growth of 1.5% to 2% per year through 2028, driven by robust economic development across various industries [5] Company Overview - Duke Energy, a Fortune 150 company based in Charlotte, N.C., serves 8.4 million customers across six states and has a total energy capacity of 54,800 megawatts [6] - The company is committed to a clean energy transition, aiming for net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050 [7]