Duke Energy ( (DUK) ) has released its Q3 earnings. Here is a breakdown of the information Duke Energy presented to its investors.
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Duke Energy, a major energy holding company based in Charlotte, N.C., operates electric and natural gas utilities across several U.S. states and is committed to transitioning towards cleaner energy solutions. The company recently reported its third-quarter financial results for 2024, indicating a reported earnings per share (EPS) of $1.60 and an adjusted EPS of $1.62, slightly below the previous year’s adjusted EPS of $1.94. Key factors impacting these results include higher tax rates, storm restoration costs, and increased depreciation, partially offset by rate increases and higher sales volumes. Despite these challenges, Duke Energy successfully managed to restore power to 5.5 million customers affected by severe storms, demonstrating its operational resilience. Looking ahead, Duke Energy’s management remains confident in its long-term growth prospects, maintaining its adjusted EPS growth rate guidance of 5% to 7% through 2028, with a focus on regulatory outcomes and sustainable investments.
