Duke Energy(US:DUK)2025-11-06 22:48Financial Performance - Third-quarter 2025 reported and adjusted EPS of $1.81, representing over 11% growth compared to third-quarter 2024[6] - The company narrows 2025 adjusted EPS guidance range to $6.25 to $6.35 and reaffirms long-term adjusted EPS growth rate of 5% to 7% through 2029[4] - Duke Energy Corporation reported net income available to common stockholders of $1,407 million for the three months ended September 30, 2025, resulting in an earnings per share (EPS) of $1.81[36] - For the nine months ended September 30, 2025, net income available to common stockholders was $3,743 million, with an EPS of $4.81[38] - The adjusted earnings per share (EPS) for Q3 2025 was $2.13, an increase from $1.90 in Q3 2024, marking a 12.1% rise[54] - Year-to-date adjusted EPS for 2025 reached $5.31, compared to $4.66 in 2024, indicating a 13.9% increase[59] - Basic and diluted earnings per share for Q3 2025 were $1.81, compared to $1.57 in Q3 2024, reflecting a 15.3% increase[63] - Operating income for the nine months ended September 30, 2025, was $6,507 million, a 12.0% increase from $5,814 million in the prior year[63] Segment Performance - Electric Utilities and Infrastructure segment income for Q3 2025 was $1,658 million, up from $1,451 million in Q3 2024[9] - Gas Utilities and Infrastructure segment loss for Q3 2025 was $26 million, compared to a loss of $25 million in Q3 2024[11] - Other segment recognized a loss of $225 million in Q3 2025, slightly higher than the $222 million loss in Q3 2024[13] - The Electric Utilities and Infrastructure segment generated income of $4,128 million for the nine months ended September 30, 2025, while the Gas Utilities and Infrastructure segment contributed $329 million[38] - The total reportable segment income for the nine months ended September 30, 2025, was $4,457 million[38] - Duke Energy Corporation's total reportable segment income for the three months ended September 30, 2025, was $1,632 million[36] Revenue and Expenses - Total operating revenues for Q3 2025 reached $8,542 million, a 4.8% increase from $8,154 million in Q3 2024[63] - Total operating revenues for the nine months ended September 30, 2025, were $24,299 million, with regulated electric revenues contributing $22,138 million[72] - Total operating expenses for the nine months ended September 30, 2025, were $17,829 million, with fuel costs for electric generation at $6,266 million[72] - The company reported a net cash used in investing activities of $9,976 million for the nine months ended September 30, 2025, compared to $9,851 million in 2024[67] Tax and Cost Management - The effective tax rate for Q3 2025 was 10.8%, down from 11.2% in Q3 2024, primarily due to increased amortization of income tax credits[15] - The effective tax rate for reported income tax expense from continuing operations was 10.8% for Q3 2025, slightly down from 11.2% in Q3 2024[51] - The effective tax rate for adjusted tax expense for the nine months ended September 30, 2025, was 11.3%, compared to 12.8% for the same period in 2024[51] - Management emphasizes cost management to keep customer rates below the national average and average changes below the rate of inflation[5] Capital and Investment Plans - The company expects to announce a new capital plan for 2026-2030 between $95 billion and $105 billion in February 2026[5] - Duke Energy is focused on energy modernization, investing in electric grid upgrades and cleaner generation sources[29] Customer and Market Data - The company serves 8.6 million electric customers and 1.7 million gas customers across multiple states[28] - The average number of residential customers grew by 1.6% to 7,549,514 in Q3 2025, while total retail customers increased by 1.4% to 8,636,364[118] - The average number of customers in Duke Energy Carolinas rose by 1.8% to 2,968,440 in Q3 2025[121] - The average number of residential customers for Duke Energy Florida increased by 1.4% to 1,822,296 in Q3 2025[128] Energy Generation and Sales - Total consolidated electric sales for Duke Energy increased by 0.2% to 72,880 GWh in Q3 2025 compared to 72,756 GWh in Q3 2024[118] - Renewable energy generation saw a significant increase of 18.8% to 1,119 GWh in Q3 2025, contributing to a total generation of 59,901 GWh[118] - Coal generation decreased by 9.9% to 2,649 GWh in Q3 2025, while nuclear generation increased by 4.8% to 11,688 GWh[121] - Total electric sales for Duke Energy Indiana reached 8,704 GWh, marking a 1.8% increase year-over-year[134] Financial Position and Assets - Cash and cash equivalents increased to $688 million as of September 30, 2025, compared to $314 million at December 31, 2024[65] - Total assets rose to $192,293 million as of September 30, 2025, up from $186,343 million at December 31, 2024[65] - Long-term debt increased to $79,301 million as of September 30, 2025, compared to $76,340 million at December 31, 2024[65] - Duke Energy's total equity was reported at $52,627 million, reflecting the company's financial stability[84]