Duke Energy Corporation (DUK) Earnings
Duke Energy Corporation is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $1.33. DUK has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +0.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $1.87 | $1.93 | +3.2% | $9.2B | +8.8% |
| Nov 6, 2025 | $1.76 | $1.81 | +2.8% | $8.7B | +1.2% |
| Feb 13, 2025 | $1.65 | $1.66 | +0.6% | $7.4B | -2.9% |
| Nov 7, 2024 | $1.70 | $1.62 | -4.7% | $8.2B | +1.2% |
| Feb 8, 2024 | $1.54 | $1.51 | -1.9% | $7.2B | -0.3% |
| Nov 2, 2023 | $1.92 | $1.94 | +1.0% | $8.0B | -1.7% |
| Feb 9, 2023 | $1.06 | $1.11 | +4.7% | $7.0B | +38.5% |
| Nov 3, 2022 | $1.84 | $1.78 | -3.3% | $8.0B | +7.9% |
| Aug 4, 2022 | $1.07 | $1.14 | +6.5% | $6.7B | +13.3% |
| Feb 10, 2022 | $0.96 | $0.94 | -2.1% | $6.2B | -4.4% |
| Nov 4, 2021 | $1.79 | $1.88 | +5.0% | $7.0B | -1.0% |
| Aug 5, 2021 | $1.10 | $1.15 | +4.5% | $5.8B | +0.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Achieved first quarter adjusted earnings per share of $1.93, on track for 2026 guidance range. - Reaffirming 5 - 7% long-term EPS growth rate through 2030, more confident in top half of range starting 2028. - Reached multi-year agreement to monetize up to $3.1 billion of clean energy tax credits for customer benefits. - Received regulatory approvals for combination of two Carolina utilities, expected to enable meeting growing energy needs more efficiently with $2.3 billion customer savings through 2040. - Closed first tranche of Brookfield's minority investment in Duke Energy Florida, received $2.8 billion; sold Piedmont Natural Gas Tennessee business to Spire for $2.5 billion. - Signed additional 2.7 gigawatts of ESAs with data center customers, total executed agreements ~7.6 gigawatts, nearly two-thirds under construction. - Rate cases for Carolinas utilities proceeding on schedule, next step intervener testimony end of May. - Added 14 gigawatts of generation over next five years, maximizing existing generation, NRC approved subsequent license renewal for Robinson Nuclear Plant, South Carolina Commission approved 1.4 gigawatt combined cycle plant, implemented CWIP rider in Indiana for Cayuga combined cycle plant.
Guidance
- On track to achieve 2026 guidance range of 655 to 680. - Reaffirming 5 to 7% long-term EPS growth rate through 2030. - More confident in top half of the range beginning in 2028 when expecting accelerated growth from economic development projects under ESAs.
Segment performance
In the first quarter, electric utilities and infrastructure was up 16 cents, driven by infrastructure investments and favorable weather but offset by higher O&M and depreciation; gas utilities and infrastructure was up a penny with contributions from riders and customer growth offset by higher depreciation; the other segment was essentially flat. Adjusted earnings per share was $1.93, reported earnings per share was $1.97, compared to $1.76 last year. First quarter adjusted earnings per share of $1.93 builds on momentum, and the company is on track to achieve 2026 guidance range of 655 to 680 and reaffirming 5 to 7% long-term EPS growth rate through 2030.
Analyst Q&A
Q: About Carolinas cases, how to set expectations on potential settlement?
A: Pride in working with regulators, next milestone intervener testimony end of month, open to settlement but have strong case if need to litigate.
Q: On tax credit monetization, details on counterparty and other opportunities?
A: Monetizing tax credits with partners, tested market, got great value for customers, expect to continue, forward contract predetermines value for customers.
Q: On nuclear, participation in consortium and confidence for new build?
A: Nuclear important, focus on current reactors, extending lives, working with government, hyperscalers on new build risks like technology, supply chain, workforce, financial risks.
Q: On ESA backlog, pipeline and cadence?
A: Disciplined approach, late development stage, confident in discussions landing projects in next 12 months, focus on speed to power.
Q: On load commentary and updating load forecasts, relation to IRP?
A: Signing 2.7 gigawatts moves load up, contemplated in plans, will be discussed in rebuttal, dynamic environment, working on more frequent updates.
Q: On current rate case offsets from savings and legislative session?
A: Tax credits and other levers to mitigate increase, working with stakeholders and regulators after intervener testimony; watching legislative session, goals in line with protecting customers, maintaining reliability, promoting economic development.
Q: On data center activity acceleration and regions?
A: Seeing acceleration in territories, vertically integrated utility as one-stop shop, North Carolina Charlotte area, Florida, southern Indiana showing interest.
Q: On tax credit agreement timing of flow back and ESA projects?
A: Tax credit flow back different by state, generally four-year amortization, ESAs require zoning and permits, confident in projects, anticipate new ones to start construction rapidly.