Duke Energy Q2 Earnings Higher Than Estimates, Revenues Rise Y/Y
DUK's Total Revenues
Total operating revenues came in at $7.51 billion, which rose 4.7% from $7.17 billion in the year-ago period. The top line also beat the Zacks Consensus Estimate of $7.34 billion by 2.3%.
The Regulated electric unit's operating revenues were $6.97 billion, up 3.3% year over year, contributing 92.8% to the quarter's total revenues.
Revenues from the Regulated natural gas business totaled $462 million, up 33.1% year over year.
The Non-regulated Electric and Other segment generated revenues of $78 million, which decreased 1.3% year over year.
Highlights of DUK's Earnings Release
Duke Energy's total operating expenses amounted to $5.69 billion in the reported quarter, up 4% year over year. The increase was primarily driven by higher expenses for the cost of natural gas, operation, maintenance and other, depreciation and amortization, as well as property and other taxes.
The operating income increased 7.2% to $1.83 billion from $1.71 billion recorded in the year-ago quarter.
Interest expenses rose to $897 million from $824 million recorded in the second quarter of 2024.
For the reported quarter, the average number of customers in its Electric Utilities increased 1.5% year over year.
Total electric sales volumes for the reported quarter went down 1.3% year over year to 64,461 gigawatt-hours.
DUK's Segmental Highlights
Electric Utilities & Infrastructure: This segment's earnings for the second quarter totaled $1,194 million, up from $1,090 million in the second quarter of 2024.
Gas Utilities & Infrastructure: Earnings generated from this segment amounted to $6 million, which came in line with the year-ago figure.
Other: The segment includes corporate interest expenses not allocated to other business units, resulting from Duke Energy's captive insurance company and other investments. This segment incurred a loss of $228 million compared with a loss of $200 million in the second quarter of 2024.
Financial Condition of DUK
As of June 30, 2025, Duke Energy had cash & cash equivalents of $344 million, up from $314 million on Dec. 31, 2024.
As of June 30, 2025, the long-term debt was $78.91 billion compared with $76.34 billion as of Dec. 31, 2024.
During the first six months of 2025, the company generated net cash from operating activities of $5.04 billion compared with $5.43 billion in the same period last year.
2025 Guidance by DUK
Duke Energy reaffirmed its 2025 adjusted EPS guidance. The company still expects to generate adjusted EPS in the range of $6.17-$6.42. The Zacks Consensus Estimate for 2025 earnings is pegged at $6.31, which is a bit higher than the midpoint of the company's projected range.
DUK continues to project long-term EPS growth of 5-7% through 2029.
DUK's Zacks Rank
Duke Energy currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
American Electric Power Company, Inc. AEP reported second-quarter 2025 operating EPS of $1.43, which beat the Zacks Consensus Estimate of $1.28 by 11.7%. The bottom line inched up 14.4% from $1.25 recorded in the year-ago quarter.
AEP's revenues of $5.09 billion rose 11.1% from the year-ago quarter's level of $4.58 billion. The top line also beat the Zacks Consensus Estimate of $4.94 billion by 2.9%.
CMS Energy Corporation CMS reported second-quarter 2025 EPS of 71 cents, which outpaced the Zacks Consensus Estimate of 67 cents by 6%. The bottom line also increased 7.6% from 66 cents in the prior-year quarter.
Operating revenues totaled $1.84 billion, which surpassed the Zacks Consensus Estimate of $1.69 billion by 9%. The top line also increased 14.4% from $1.61 billion in the prior-year quarter.
NextEra Energy, Inc. NEE reported second-quarter 2025 adjusted earnings of $1.05 per share, which topped the Zacks Consensus Estimate of $1.02 by 2.9%. The bottom line was also up nearly 9.4% year over year.
In the second quarter, NextEra Energy's operating revenues were $6.7 billion, which missed the Zacks Consensus Estimate of $7.22 billion by 7.28%. However, the top line improved 10.4% year over year.
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NextEra Energy, Inc. (NEE): Free Stock Analysis Report
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