Latest news with #BrianSavoy
Reuters
3 days ago
- Business
- Reuters
Duke Energy boosts capex to $87 billion and sells Florida unit stake to provide funds
Aug 5 (Reuters) - U.S. power company Duke Energy (DUK.N), opens new tab will boost its infrastructure investments to $87 billion to meet soaring electricity demand, and will sell a portion of its Florida business to help provide funds, it said on Tuesday. Duke, which is raising its five-year capex plan by $4 billion, joins other major U.S. utilities that are investing in power lines and electricity generation to accommodate demand from AI-focused data centers, the electrification of transportation and industries and population growth. It will sell part of a Florida utility that serves about 2 million customers for $6 billion to Brookfield Asset Management to pay for its capital plan and to reduce holding company debt. Brookfield will acquire the stake in phases, beginning next year. It will also use funds from the sale of its Piedmont Natural Gas business in Tennessee to Spire for $2.8 billion, in an agreement announced a week ago. "The transactions... really position the company for the growth ahead with the capital expansion, the generation modernization and grid work in front of us," Duke CFO Brian Savoy told Reuters. The increase in Duke's infrastructure will be focused on Florida, where demand is growing rapidly from residential and commercial customers, Savoy said. Duke operates in six U.S. states. Nationwide, the U.S. Energy Information Administration has forecast record power consumption in 2025 and 2026. Duke also beat second-quarter profit estimates on Tuesday, sending its shares to a record high. They were last up about 2.5%. The Charlotte, North Carolina-based utility posted adjusted earnings of $1.25 per share, compared with the analysts' average estimate of $1.18, according to LSEG data. Duke expects rate case hearings in the fourth-quarter, with new rates effective by early 2026, the company said in the post-earnings call. Revenue rose to $7.5 billion, up from $7.17 billion a year earlier. On an adjusted basis, earnings from Duke's electric utilities segment climbed to $1.19 billion, from $1.12 billion in the same period last year, helped by higher retail rates. The company said its gas utilities segment posted flat results of $6 million, pressured by higher operating and maintenance costs.
Yahoo
4 days ago
- Business
- Yahoo
Duke Energy reports second-quarter 2025 financial results
CHARLOTTE, N.C., Aug. 5, 2025 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its second-quarter 2025 financial results in a news release available on the company's website at the following link: Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section ( of Duke Energy's website or by dialing 833.470.1428 in the U.S. or 929.526.1599 outside the U.S. The confirmation code is 704713. Please call in 10 to 15 minutes prior to the scheduled start time. A recording of the webcast will be available on the investors' section of the company's website on Aug. 6. Duke Energy Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Media Contact: Gillian Moore24-Hour: 800.559.3853 Analysts Contact: Abby MotsingerOffice: 704.382.7624 View original content to download multimedia: SOURCE Duke Energy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Duke Energy reports first-quarter 2025 financial results
CHARLOTTE, N.C., May 6, 2025 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its first-quarter 2025 financial results in a news release available on the company's website at the following link: Duke Energy logo (PRNewsfoto/Duke Energy) Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section ( of Duke Energy's website or by dialing 833.470.1428 in the U.S. or 929.526.1599 outside the U.S. The confirmation code is 197083. Please call in 10 to 15 minutes prior to the scheduled start time. A recording of the webcast will be available on the investors' section of the company's website on May 7. Duke Energy Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Media Contact: Gillian Moore 24-Hour: 800.559.3853 Analysts Contact: Abby Motsinger Office: 704.382.7624 Cision View original content to download multimedia: SOURCE Duke Energy
Yahoo
09-04-2025
- Business
- Yahoo
Duke Energy to announce first-quarter financial results on May 6
CHARLOTTE, N.C., April 9, 2025 /PRNewswire/ -- Duke Energy will post its first-quarter 2025 financial results at 7 a.m. ET on Tuesday, May 6 on the company's website at An earnings conference call for analysts is scheduled at 10 a.m. ET that day to discuss the first-quarter 2025 results and other business and financial updates. The conference call will be hosted by Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer. The call can be accessed via the investors' section ( of Duke Energy's website or by dialing 833.470.1428 in the U.S. or 929.526.1599 outside the U.S. The confirmation code is 197083. Please call in 10 to 15 minutes prior to the scheduled start time. A recording of the webcast will be available on the investors' section of the company's website on May 7. Duke Energy Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. More information is available at and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. Media Contact: Gillian Moore24-Hour: 800.559.3853 Analysts Contact: Abby MotsingerOffice: 704.382.7624 View original content to download multimedia: SOURCE Duke Energy Sign in to access your portfolio
