Companies /Utilities

Duke Energy Corp

NYSE: DUK Utilities - Regulated Electric
$120.83
▼ $1.07 (−0.87%) today
Markets open · 3:48pm ET

Q1 2025 Earnings

Reported May 5, 2025, 6:08pm ET · SEC source
$1.76
Beat +10.84%
EPS · est. $1.59
$8.2B
Beat +1.69%
Revenue · est. $8.1B
−9.4%
Trailing market
DUK vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+2%May 5May 6report 6:08pm ETearnings−1.1%+1.6%
0+2%May 5May 6earnings−1.1%+1.6%
DUK +1.6%S&P 500 −1.1%
0+2%May 5May 6report 6:08pm ETearnings−1.3%+1.6%
0+2%May 5May 6earnings−1.3%+1.6%
DUK +1.6%NASDAQ −1.3%
−4%0+4%May 5May 13report 6:08pm ETearnings+4.2%−6.3%
−4%0+4%May 5May 13earnings+4.2%−6.3%
DUK −6.3%S&P 500 +4.2%
−4%0+4%May 5May 13report 6:08pm ETearnings+6.2%−6.3%
−4%0+4%May 5May 13earnings+6.2%−6.3%
DUK −6.3%NASDAQ +6.2%
−0.68%
Day of report
+1.81%
Next session
−4.06%
One week
−4.15%
30 days

S&P 500 over the same 30 days: +5.24%.

Did DUK Beat Earnings? Q1 2025 Results

Duke Energy opened 2025 on a strong note, posting first-quarter earnings per share of $1.76 and beating the Wall Street consensus of $1.59 by 10.84%, while revenue of $8.25 billion topped estimates by 1.69% and climbed 7.5% year over year from $7.67 billion. The headline driver behind the beat was a robust performance from the Electric Utilities and Infrastructure segment, where new rate implementations across North Carolina and Florida contributed $0.14 per share and favorable weather added another $0.07, while total retail electricity sales volumes rose 5.4% year over year as residential customer counts grew 1.9% to roughly 7.5 million, reflecting sustained population growth across Duke's southeastern footprint. Gas Utilities also contributed meaningfully, with colder weather boosting Piedmont LDC throughput by 11.1%. The strong quarter arrives as Duke accelerates an $83 billion, five-year capital program to address what management describes as record load growth, including rising demand from data centers. The company reaffirmed its 2025 adjusted EPS guidance range of $6.17 to $6.42 and its 5% to 7% long-term growth target through 2029.

Key Takeaways
  • Higher retail sales volumes across Electric Utilities (5.4% YoY, 1.8% weather-normal)
  • Improved weather contributing $0.07 per share
  • Implementation of new rates and riders contributing $0.21 per share from rate case impacts
  • Riders and other retail margin improvement of $0.10 per share
  • Higher wholesale capacity volumes contributing $0.03 per share
  • Lower effective tax rate due to increased amortization of income tax credits
  • Residential electric customer growth of 1.9% year-over-year

“I am incredibly proud of our performance in the first quarter, which is a result of the constructive regulatory outcomes the team has delivered over the last several years. The fundamentals of the company are stronger than ever, positioning us extraordinarily well to meet our customers' growing and evolving energy demands – now and into the future.”

Duke Energy CEO, on the earnings call

Forward Guidance & Outlook

Duke Energy reaffirmed its 2025 adjusted EPS guidance range of $6.17 to $6.42, with a midpoint of $6.30. The company also reaffirmed its long-term adjusted EPS growth rate of 5% to 7% through 2029 off the 2025 midpoint. The company is advancing new generation to serve growing energy demand. Management does not forecast reported GAAP EPS or related long-term growth rates.

DUK YoY Financials

Q1 2025 vs Q1 2024 · SEC filings Q1 2024 Q1 2025
$0$3.0B$6.0B$9.0B$7.7B$8.2BRevenue$2.0B$2.3BOperating Income$1.1B$1.4BNet Income
$0$3.0B$6.0B$9.0BRevenueOperating IncomeNet Income

DUK Revenue by Segment

Electric Utilities and Infrastructure$7.1B
Duke Energy Carolinas$2.5B
Duke Energy Progress$2.0B
Duke Energy Florida$1.4B
Gas Utilities and Infrastructure$1.1B
Piedmont Natural Gas$857.0M
Duke Energy Indiana$858.0M
Duke Energy Ohio$487.0M

Figures from SEC filings and company reports. Not investment advice.