Companies /Utilities

Duke Energy Corp

NYSE: DUK Utilities - Regulated Electric
$121.02
▼ $0.87 (−0.72%) today
Markets open · 3:08pm ET

Q4 2025 Earnings

Reported Feb 9, 2026, 5:51pm ET · SEC source
$1.50
Beat +0.49%
EPS · est. $1.49
$7.9B
Beat +4.62%
Revenue · est. $7.6B
+12.3%
Beating market
DUK vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−0.9%0+0.9%+1.8%Feb 9Feb 10report 5:51pm ETearnings−0.3%+1.8%
−0.9%0+0.9%+1.8%Feb 9Feb 10earnings−0.3%+1.8%
DUK +1.8%S&P 500 −0.3%
−0.9%0+0.9%+1.8%Feb 9Feb 10report 5:51pm ETearnings−0.5%+1.8%
−0.9%0+0.9%+1.8%Feb 9Feb 10earnings−0.5%+1.8%
DUK +1.8%NASDAQ −0.5%
−3%0+3%+6%Feb 9Feb 17report 5:51pm ETearnings−1.6%+4.1%
−3%0+3%+6%Feb 9Feb 17earnings−1.6%+4.1%
DUK +4.1%S&P 500 −1.6%
−3%0+3%+6%Feb 9Feb 17report 5:51pm ETearnings−2.3%+4.1%
−3%0+3%+6%Feb 9Feb 17earnings−2.3%+4.1%
DUK +4.1%NASDAQ −2.3%
−0.11%
Day of report
+1.58%
Next session
+4.10%
One week
+8.30%
30 days

S&P 500 over the same 30 days: −4.02%.

Did DUK Beat Earnings? Q4 2025 Results

Duke Energy capped fiscal 2025 with a fourth-quarter earnings beat on both the top and bottom lines, as recovering infrastructure investments and expanding service territories drove stronger-than-expected results. The Charlotte-based utility posted Q4 adjusted EPS of $1.50, edging past the $1.49 consensus estimate by 0.67%, while revenue climbed 7.8% year-over-year to $7.94 billion, ahead of the $7.45 billion Wall Street had anticipated by 6.54%. For the full year, adjusted EPS reached $6.31, a notable step up from the prior year's $5.90 adjusted figure, with rate case recoveries and growth across Duke's sun-belt territories providing the primary lift. The quarterly performance came despite meaningful headwinds, including higher operations and maintenance costs that weighed $0.17 per share on Q4 results alone. Looking ahead, Duke introduced 2026 adjusted EPS guidance of $6.55 to $6.80, underpinned by a $103.00 billion five-year capital plan targeting 9.6% earnings base growth through 2030, with management expressing confidence to earn in the top half of its 5% to 7% long-term growth range beginning in 2028.

Key Takeaways
  • Recovery of growing infrastructure investments to serve customers
  • Growth in service territories
  • Rate case impacts contributing $0.14 per share in Q4 and $0.71 per share for the full year
  • Riders and other retail margin improvements of $0.10 per share in Q4
  • Volume growth of $0.22 per share for the full year
  • Weather contributing $0.07 per share for the full year

“The fourth quarter marked a strong finish to a productive year, where we met every financial goal, progressed our economic development pipeline, broke ground on 5 gigawatts of new dispatchable generation resources, and continued to deliver value for customers. The cost of energy has always been and will remain a key focus for our company. We continue to find new ways to deliver affordable energy for our customers, keeping our rates below the national average and rate changes below inflation.”

Duke Energy CEO, on the earnings call

Forward Guidance & Outlook

Duke Energy introduced 2026 adjusted EPS guidance of $6.55 to $6.80 and extended its long-term adjusted EPS growth rate of 5% to 7% through 2030, off the 2025 guidance range midpoint of $6.30. Management expressed confidence to earn in the top half of the growth range beginning in 2028. The company's $103 billion five-year capital plan is expected to drive 9.6% earnings base growth through 2030, supported by contracted demand from AI and advanced manufacturing.

DUK YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$3.0B$6.0B$7.4B$7.9BRevenue$2.1B$2.1BOperating Income$1.2B$1.2BNet Income
$0$3.0B$6.0BRevenueOperating IncomeNet Income

DUK Revenue by Segment

Electric Utilities and Infrastructure$7.0B
Duke Energy Carolinas$2.3B
Duke Energy Progress$1.8B
Duke Energy Florida$1.6B
Gas Utilities and Infrastructure$976.0M
Piedmont Natural Gas$774.0M
Duke Energy Indiana$873.0M
Duke Energy Ohio$499.0M

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