Duke Energy 1Q Net Up Sharply on Higher Rates

Dow Jones05-06

By Rob Curran

Duke Energy's first-quarter net income rose sharply due to higher electricity rates and demand in its primarily Southeastern markets.

The Charlotte utility operator, which provides electricity or natural-gas services to customers in the Carolinas, Florida, Ohio and several other states, logged earnings of $1.36 billion, or $1.76 a share, up from $1.01 billion, or $1.44 a share, a year earlier.

With few one-off items to consider, Duke's adjusted earnings were also $1.76 a share.

Revenue rose 7.5% to $8.25 billion.

For 2025, Duke reiterated its projection for adjusted earnings in a range between $6.17 and $6.42 a share. On a long-term basis, Duke continues to expect growth in adjusted earnings-per-share of 5% to 7% through 2029, working from a 2025 expected midpoint of $6.30.

Write to Rob Curran at rob.curran@wsj.com

(END) Dow Jones Newswires

May 06, 2025 07:51 ET (11:51 GMT)

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