Duke Energy Q2 Earnings Higher Than Estimates, Revenues Rise Y/Y

Core Insights - Duke Energy Corporation (DUK) reported second-quarter 2025 earnings of $1.25 per share, exceeding the Zacks Consensus Estimate of $1.19 by 5% and reflecting a 10.6% increase from $1.13 in the same quarter last year, primarily due to new rates and riders [1][9] Revenue Performance - Total operating revenues reached $7.51 billion, a 4.7% increase from $7.17 billion in the prior year, surpassing the Zacks Consensus Estimate of $7.34 billion by 2.3% [2][9] - The Regulated electric unit generated operating revenues of $6.97 billion, up 3.3% year over year, contributing 92.8% to total revenues [2] - Revenues from the Regulated natural gas business increased significantly by 33.1% year over year to $462 million [2] Expense and Income Analysis - Total operating expenses were $5.69 billion, up 4% year over year, driven by higher costs in natural gas, operation, maintenance, depreciation, and property taxes [4] - Operating income rose 7.2% to $1.83 billion from $1.71 billion in the previous year [4] Segment Performance - Electric Utilities & Infrastructure segment earnings increased to $1,194 million from $1,090 million in the second quarter of 2024 [6] - Gas Utilities & Infrastructure segment earnings remained stable at $6 million, consistent with the previous year [6] - The Non-regulated Electric and Other segment reported revenues of $78 million, a decrease of 1.3% year over year, with losses widening to $228 million from a loss of $200 million in the prior year [3][7][9] Financial Condition - As of June 30, 2025, cash and cash equivalents stood at $344 million, up from $314 million at the end of 2024 [10] - Long-term debt increased to $78.91 billion from $76.34 billion as of December 31, 2024 [10] - Net cash from operating activities for the first half of 2025 was $5.04 billion, down from $5.43 billion in the same period last year [10] Future Guidance - Duke Energy reaffirmed its 2025 adjusted EPS guidance, expecting a range of $6.17-$6.42, with the Zacks Consensus Estimate at $6.31 [11] - The company projects long-term EPS growth of 5-7% through 2029 [11]