Duke Energy Corp

Latest Results (20.08.2024):

Reported and Adjusted EPS

Duke Energy Corp reported second-quarter 2024 earnings per share (EPS) of $1.13, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $1.18. This compares to a reported loss per share of $(0.32) and adjusted EPS of $0.91 for the second quarter of 2023. The adjusted EPS excludes the impact of certain items included in the reported EPS.

Electric Utilities and Infrastructure

For the second quarter of 2024, Duke Energy Corp's Electric Utilities and Infrastructure segment reported income of $1,090 million, compared to $850 million in the same quarter of 2023. On an adjusted basis, the segment income was $1,115 million, up from $850 million in the second quarter of 2023. The increase was driven by growth from rate increases, higher sales volumes, and improved weather, partially offset by higher depreciation and interest expenses.

Gas Utilities and Infrastructure

Duke Energy Corp's Gas Utilities and Infrastructure segment reported and adjusted income of $6 million for the second quarter of 2024, down from $25 million in the same quarter of 2023. The decrease was primarily due to higher expenses, partially offset by growth from riders and other retail margins.

Other Segment

The "Other" segment, which includes interest expense on holding company debt and other unallocated corporate costs, reported and adjusted a segment loss of $200 million for the second quarter of 2024. This is compared to a segment loss of $161 million in the second quarter of 2023, primarily due to higher interest expenses.

Effective Tax Rate

Duke Energy Corp's consolidated reported effective tax rate for the second quarter of 2024 was 13.1%, compared to 13.7% in the second quarter of 2023. The adjusted effective tax rate was 13.4% for the second quarter of 2024, compared to 13.8% in the same quarter of the previous year.