Financial Data and Key Metrics Changes - The company reported adjusted earnings per share of $1.25 for the second quarter of 2025, an increase from $1.18 in 2024, reflecting strong performance across electric utilities [19][7] - The company is reaffirming its 2025 guidance range of $6.17 to $6.42 and a long-term EPS growth rate of 5% to 7% through 2029 [25][7] Business Line Data and Key Metrics Changes - Electric Utilities and Infrastructure segment saw an increase of $0.10 compared to last year, driven by top line growth from new rates implemented across Carolinas, Florida, and Indiana [19] - Gas Utilities and Infrastructure results remained flat compared to last year, consistent with the seasonality of the LDC business [19] Market Data and Key Metrics Changes - Population migration in the Southeast and Midwest continues to drive sustained customer growth, particularly over 2% in the Carolinas [20] - The economic development pipeline remains robust, with significant projects like the $10 billion AWS data center investment in North Carolina expected to create at least 500 new high-skilled jobs [22][9] Company Strategy and Development Direction - The company is increasing its Florida capital plan by $4 billion, funded by a portion of the sale proceeds from the Tennessee LDC business [6][5] - The strategic transactions, including the minority investment from Brookfield Infrastructure, are aimed at efficiently financing record growth and enhancing the credit profile [5][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the targeted EPS and credit objectives for 2025, supported by strong regulatory outcomes and operational performance [19][20] - The company is focused on advancing large-scale economic development projects and securing favorable regulatory outcomes to meet growing demand [10][8] Other Important Information - The company has announced the sale of its Tennessee LDC business for $2.5 billion, reflecting a premium valuation [6] - The company is actively advancing regulatory approval processes for new generation investments and plans to file its next Carolinas resource plan by October 1 [14] Q&A Session Summary Question: How do you think about positioning yourself within the EPS CAGR? - Management indicated that recent transactions enhance confidence in achieving the EPS growth range and solidify the company's position for the back end of the plan [31] Question: Can you elaborate on the latest Carolinas legislation? - Management noted that the legislation enhances growth attractiveness in North Carolina and supports customer affordability while maintaining the overall plan [34] Question: How are you thinking about additional opportunities across the portfolio? - Management stated that they are comfortable with the equity plans laid out and will focus on implementing current transactions [40] Question: What feedback have you received from rating agencies regarding the increased FFO to debt target? - Management reported that rating agencies have been supportive of their metrics and the recent transactions will enhance that support [42] Question: Should we assume you need to complete the Florida sell-down steps to get to the 15% FFO to debt? - Management indicated that progress through the deal is necessary to reach the 15% target [49] Question: Can you provide any color on the timing of the Amazon investment? - Management stated that the Amazon deal will ramp up starting in 2027 and will be included in future capital plans [76] Question: What drove the decisions for the recent sales? - Management emphasized the need for efficient funding of growth and maximizing opportunities in Florida [81]

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share of $1.25 for Q2 2025, an increase from $1.18 in Q2 2024, reflecting strong operational performance [18][6] - The company reaffirmed its 2025 earnings guidance range of $6.17 to $6.42 and a long-term EPS growth rate of 5% to 7% through 2029 [25][26] Business Line Data and Key Metrics Changes - Electric Utilities and Infrastructure segment saw an increase of $0.10 in earnings per share compared to the previous year, driven by new rate implementations across Carolinas, Florida, and Indiana [18] - Gas Utilities and Infrastructure results remained flat year-over-year, consistent with the seasonal nature of the LDC business [19] Market Data and Key Metrics Changes - Population migration in the Southeast and Midwest continues to drive customer growth, particularly over 2% in the Carolinas [20] - The economic development pipeline remains robust, with significant projects like the $10 billion AWS data center investment in North Carolina expected to create at least 500 new high-skilled jobs [22][8] Company Strategy and Development Direction - The company is increasing its Florida capital plan by $4 billion, funded by a portion of the proceeds from the Brookfield Infrastructure investment [5] - The company is focused on advancing large-scale economic development projects and securing favorable regulatory outcomes to support growth [7][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving targeted EPS and credit objectives for 2025, supported by strong regulatory outcomes and operational performance [19][24] - The company highlighted the importance of legislative support, such as the Power Bill Reduction Act in North Carolina, which aids in managing customer affordability while supporting credit quality [11][12] Other Important Information - The company announced the sale of its Tennessee LDC business for $2.5 billion, reflecting a premium valuation and allowing for efficient financing of future growth [5][4] - The company is targeting a long-term FFO to debt ratio of 15%, which provides a cushion above downgrade thresholds set by rating agencies [24][40] Q&A Session Summary Question: How do you think about positioning yourself within the EPS CAGR? - Management indicated that recent transactions enhance confidence in achieving the EPS growth range and solidify the company's position for the latter years of the plan [32] Question: Can you elaborate on the latest Carolinas legislation? - Management noted that the legislation enhances growth attractiveness in North Carolina and supports the company's existing plans [34] Question: What are the plans for additional opportunities across the portfolio? - Management stated that they are comfortable with the current equity plans and will focus on implementing existing transactions [39] Question: What feedback have you received from rating agencies regarding the increased FFO to debt target? - Management reported that rating agencies have been supportive of their metrics and the recent transactions will enhance that support [41] Question: Will you need to complete the Florida sell-down steps to reach the 15% FFO to debt target? - Management indicated that progress through the deal is necessary to reach the target [48] Question: What drove the decisions for the recent sales? - Management emphasized the need for efficient funding of growth and maximizing opportunities in Florida [77] Question: What types of investments will the $4 billion in Florida go towards? - Management confirmed that the investments will focus on grid and generation improvements to support customer growth in Florida [79] Question: Any thoughts on the pace of dividend growth? - Management stated that the board has approved a 2% growth in dividends, which aligns with their capital allocation strategy [81]

Core Insights - Duke Energy reported $7.51 billion in revenue for the quarter ended June 2025, a year-over-year increase of 4.7% and an EPS of $1.25 compared to $1.18 a year ago, exceeding Zacks Consensus Estimates for both revenue and EPS [1] Revenue Performance - Regulated natural gas operating revenues were $462 million, a 33.1% increase year-over-year, but below the estimated $685.12 million [4] - Regulated electric operating revenues reached $6.97 billion, reflecting a 3.3% year-over-year increase and surpassing the estimated $6.86 billion [4] - Nonregulated electric and other revenues were $78 million, a 1.3% decrease year-over-year, slightly below the estimated $80.56 million [4] - Gas Utilities and Infrastructure revenues were $493 million, a 29.4% increase year-over-year, exceeding the estimated $407.76 million [4] - Electric Utilities and Infrastructure revenues totaled $7.05 billion, a 3.3% year-over-year increase, slightly above the estimated $7.04 billion [4] Stock Performance - Duke Energy shares returned +5.9% over the past month, outperforming the Zacks S&P 500 composite's +1% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Q2 / 2025 Earnings Review and Business Update Harry Sideris / President and CEO Brian Savoy / Executive Vice President and CFO August 5, 2025 This presentation includes forward-looking statements within the meaning of the federal securities laws. Actual results could differ materially from such forward- looking statements. The factors that could cause actual results to differ are discussed herein and in Duke Energy's SEC filings, available at www.sec.gov. Regulation G disclosure SECOND QUARTER 2025 EARNINGS ...

Duke Energy reports second-quarter 2025 financial results News Release Media Contact: Gillian Moore 24-Hour: 800.559.3853 Analyst Contact: Abby Motsinger Office: 704.382.7624 August 5, 2025 CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced second-quarter 2025 reported EPS, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $1.25. This is compared to reported EPS of $1.13 and adjusted EPS of $1.18 for the second quarter of 2024. Adjusted EPS excludes the ...

Core Insights - Duke Energy has enhanced incentives and eligibility for energy efficiency and demand response programs in South Carolina, effective August 1, 2025, following approval from the Public Service Commission of South Carolina [1][2] Residential Customer Enhancements - The company has introduced significant incentives for residential customers, with some incentives doubling or tripling, encouraging energy efficiency improvements [2][10] - Customers can manage energy use better and save money through demand response programs, which offer bill credits for shifting usage to lower demand periods [3] Business Customer Benefits - Duke Energy has increased energy efficiency and demand response incentives for business customers, with average incentive amounts rising by 20%-25% [5][6] - The PowerShare program has increased capacity credits from $3.50 to $5 per kW for reducing energy use [12] Assistance Programs - Expanded offerings for qualifying customers include more options for energy savings, particularly for those in need [7] - Duke Energy provides resources for customers struggling with energy bills, including flexible payment arrangements and assistance programs [13] Company Overview - Duke Energy serves 8.4 million customers across several states and has a total energy capacity of 54,800 megawatts [14] - 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 electric grid upgrades and cleaner generation [15]

Group 1 - The article discusses the exploration of upstream supply chains related to the AI infrastructure build cycle, highlighting interesting stocks identified by the author [1] - The author emphasizes a long-term investment strategy focused on undervalued stocks and high-quality dividend growers that provide reliable cash flow for reinvestment [1] - The importance of sustained profitability is noted, with strong margins, stable and expanding free cash flow, and high returns on invested capital being more reliable drivers of returns than valuation alone [1] Group 2 - The author possesses three degrees in Economics, Classical Philology, and Philosophy & Theology, which enhance the ability to analyze companies through both numerical and humanistic perspectives [1] - The motivation for investing is rooted in a desire to provide for future generations, emphasizing responsible stewardship over mere wealth accumulation [1] - The goal of the investment strategy is to ensure sufficient assets to allow for freedom in work and life choices, rather than to escape work altogether [1]

Key Takeaways DUK's Q2 sales are likely to have risen on warmer weather, customer growth and new data center agreements.New rate implementations and grid investment returns are expected to boost DUK's Q2 earnings.Higher depreciation and interest costs could pressure earnings despite rate hikes and cost cuts.Duke Energy Corporation (DUK) is scheduled to release its second-quarter 2025 results on Aug. 5, before market open. The company delivered an earnings surprise of 10.69% in the last reported quarter. Mor ...

Core Insights - Analysts project Duke Energy (DUK) will report quarterly earnings of $1.19 per share, reflecting a 0.9% year-over-year increase, with revenues expected to reach $7.34 billion, a 2.3% increase from the same quarter last year [1] Earnings Estimates - Over the last 30 days, the consensus EPS estimate for the quarter has been revised upward by 1.8%, indicating a collective reassessment by covering analysts [2] - Revisions to earnings projections are crucial for predicting investor behavior and are strongly linked to short-term stock price performance [3] Revenue Estimates - Analysts estimate 'Operating Revenues- Regulated natural gas' at $685.12 million, showing a significant year-over-year change of +97.4% [5] - 'Operating Revenues- Regulated electric' is projected to be $6.86 billion, indicating a +1.7% change year over year [5] - 'Operating Revenues- Nonregulated electric and other' is expected to reach $80.56 million, reflecting a +2% change from the previous year [6] - 'Operating Revenues- Electric Utilities and Infrastructure' is estimated at $7.04 billion, with a +3.3% change from the prior year [6] - 'Operating Revenues- Gas Utilities and Infrastructure' is projected to be $407.76 million, indicating a +7% change from the prior year [7] Stock Performance - Over the past month, Duke Energy shares have returned +2.9%, slightly outperforming the Zacks S&P 500 composite's +2.7% change [7] - Duke Energy holds a Zacks Rank 4 (Sell), suggesting it may underperform the overall market in the upcoming period [7]

"The transaction allows us to efficiently fund accelerating investment opportunities driven by record customer growth and a deepening economic development pipeline," said Harry Sideris, Duke Energy president and chief executive officer. "We're confident Spire will support the continued growth and success of the Tennessee natural gas business and serve as an incredible operator for the benefit of employees, customers and communities." Sideris added, "I want to thank our customers and the Nashville community ...