Duke Energy(US:DUK)2025-02-13 16:37Financial 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]