Q2 26 EPS
$1.43
BEAT +9.48%
Est. $1.31
Q2 26 Revenue
$7.59B
MISS 1.15%
Est. $7.68B
vs S&P Since Q2 26
+0.6%
BEATING MARKET
DUK +0.7% vs S&P +0.1%
Market Reaction
Did DUK Beat Earnings? Q2 2026 Results
Duke Energy posted a stronger-than-expected second quarter, with adjusted earnings per share of $1.43 clearing the $1.31 consensus estimate by 9.48% and marking the company's fifth consecutive quarter of beating analyst EPS expectations. Revenue of $… Read more Duke Energy posted a stronger-than-expected second quarter, with adjusted earnings per share of $1.43 clearing the $1.31 consensus estimate by 9.48% and marking the company's fifth consecutive quarter of beating analyst EPS expectations. Revenue of $7.59 billion rose 1.1% year over year, though it fell just short of the $7.68 billion consensus. The primary engine behind the earnings beat was the Electric Utilities and Infrastructure segment, which generated adjusted segment income of $1.31 billion compared to $1.19 billion a year ago, fueled by volume growth, rate case impacts across multiple jurisdictions, and higher grid modernization riders. GAAP EPS of $1.38 trailed the adjusted figure due to $39 million in after-tax charges tied to North Carolina rate case settlements. With growing electricity demand from data centers adding a favorable backdrop for utilities across the sector, Duke reaffirmed its full-year 2026 adjusted EPS guidance range of $6.55 to $6.80 and its long-term EPS growth target of 5% to 7% through 2030, expressing confidence in achieving results in the top half of that range beginning in 2028.
Key Takeaways
- • Recovery of infrastructure investments to reliably serve customers in growing jurisdictions
- • Rate case impacts including DEI Step 2, DEC North Carolina Year 3, DEC South Carolina, DEF Year 2, DEP North Carolina Year 3, DEP South Carolina, and DEK rates
- • Higher grid modernization riders and North Carolina Power Bill Reduction Act (SB266) impacts
- • Volume growth of $0.08/share driven by customer growth in service territories
- • Wholesale revenue improvement of $0.04/share
- • Partially offset by higher depreciation on growing asset base (-$0.09/share)
- • Partially offset by higher interest expense (-$0.04/share)
- • Weather was a slight headwind (-$0.02/share)
- • Total retail customer count grew 1.4% year-over-year to approximately 8.73 million
- • Duke Energy Ohio weather-normal retail sales growth of 0.4% with retail customers up 0.5%
- • Duke Energy Indiana weather-normal retail sales growth of 1.2% with retail customers up 1.0%
- • Piedmont Natural Gas LDC throughput grew 5.6% for the quarter
DUK Forward Guidance & Outlook
Duke Energy reaffirmed its 2026 adjusted EPS guidance range of $6.55 to $6.80 and its long-term adjusted EPS growth rate of 5% to 7% through 2030, based off the 2025 midpoint of $6.30. Management expressed confidence in earning in the top half of the guidance range beginning in 2028. The company cited a strong first half that positions it to deliver full-year results within the guidance range. Management highlighted growth opportunities in economically attractive service territories and the importance of building critical infrastructure to support economic growth.
DUK YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
DUK Revenue by Segment
With YoY comparisons, source: SEC Filings
“We had a strong first half of the year, achieving constructive regulatory outcomes, advancing strategic priorities and maintaining excellence in our operational and financial performance. Looking ahead, we are well-positioned to deliver on our commitments in 2026 and seize the growth opportunities in some of the most economically attractive states in the country. As we build the critical infrastructure our customers and communities need, we're ensuring our investments support economic growth and create long-term value while providing reliable energy at the lowest possible cost.”
— Harry Sideris, Q2 2026 Earnings Press Release
DUK Earnings Trends
DUK vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DUK EPS Trend
Earnings per share: estimate vs actual
DUK Revenue Trend
Quarterly revenue: estimate vs actual
DUK Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.31 | $1.43 | +9.48% | $7.59B | -1.15% |
| Q1 26 BEAT | $1.80 | $1.93 | +7.51% | $9.18B | +8.11% |
| Q4 25 BEAT FY | $1.49 | $1.50 | +0.49% | $7.94B | +4.62% |
| FY Full Year | $6.31 | $6.31 | -0.03% | $32.24B | +1.13% |
| Q3 25 BEAT | $1.75 | $1.81 | +3.45% | $8.54B | -0.13% |
| Q2 25 BEAT | $1.17 | $1.25 | +6.42% | $7.51B | +0.55% |
| Q1 25 BEAT | $1.59 | $1.76 | +10.84% | $8.25B | +1.69% |