We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Duke Energy Q4 Earnings Lag Estimates, Revenues Rise Y/Y
Read MoreHide Full Article
Key Takeaways
DUK posted Q4 EPS of $1.50, missing estimates and falling 9.6% year over year despite revenue growth.
Duke Energy's Q4 revenues rose 7.9% to $7.94B, beating estimates, while full-year sales reached $32.24B.
Higher fuel, depreciation and interest costs pressured earnings, even as customers and sales volumes grew.
Duke Energy Corporation's (DUK - Free Report) fourth-quarter 2025 earnings of $1.50 per share lagged the Zacks Consensus Estimate of $1.51 by 0.6%. The bottom line also declined 9.6% from $1.66 reported in the year-ago quarter.
For 2025, CMS reported adjusted earnings of $6.31 per share, higher than the prior-year figure of $5.90.
DUK’s Total Revenues
Total operating revenues were $7.94 billion, which beat the Zacks Consensus Estimate of $7.66 billion by 3.9%. The top line also increased 7.9% from $7.36 billion in the year-ago period.
The company reported revenues of $32.24 billion in 2025, higher than $30.36 billion in 2024.
Duke Energy Corporation Price, Consensus and EPS Surprise
Total operating expenses amounted to $5.83 billion in the reported quarter, up 11% 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 totaled $2.119 billion compared with $2.112 billion in the year-ago quarter.
Interest expenses rose to $946 million from $871 million in the fourth quarter of 2024.
The average number of customers in its Electric Utilities increased 1.5% year over year.
Total electric sales volume for the reported quarter went up 2.3% year over year to 61,726 gigawatt-hours.
DUK’s Segmental Highlights
Electric Utilities & Infrastructure: This segment’s adjusted earnings for the fourth quarter totaled $1.21 billion, down from $1.24 billion in the fourth quarter of 2024. The decline was mainly due to higher O&M and depreciation on a growing asset base and interest expense, partially offset by the recovery of infrastructure investments.
Gas Utilities & Infrastructure: Adjusted earnings from this segment amounted to $230 million compared with $231 million in the fourth quarter of 2024.
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 $272 million compared with a loss of $186 million in the fourth quarter of 2024.
Financial Condition of DUK
As of Dec. 31, 2025, Duke Energy had cash & cash equivalents of $245 million compared with $314 million as of Dec. 31, 2024.
As of Dec. 31, 2025, the long-term debt was $80.11 billion compared with $76.34 billion as of Dec. 31, 2024.
The company generated net cash from operating activities of $12.330 billion in 2025 compared with $12.328 billion last year.
2026 Guidance by DUK
Duke Energy expects to generate 2026 adjusted EPS in the range of $6.55-$6.80. The Zacks Consensus Estimate for 2025 earnings is pegged at $6.70, which is higher than the midpoint of the company’s projected range.
DUK extends its long-term EPS growth of 5-7% through 2030.
DUK’s Zacks Rank
Duke Energy currently carries a Zacks Rank #4 (Sell).
Edison International (EIX - Free Report) is scheduled to report fourth-quarter results on Feb. 18, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.47 per share, which suggests a year-over-year increase of 40%.
EIX’s long-term (three to five years) earnings growth rate is 10.93%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $4.38 billion, which implies a year-over-year improvement of 9.9%.
Alliant Energy (LNT - Free Report) is slated to report fourth-quarter results on Feb. 19, after market close. The Zacks Consensus Estimate for earnings is pegged at 58 cents per share, which implies a year-over-year decrease of 17.1%.
LNT’s long-term earnings growth rate is 7.15%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $937.84 million, which implies a year-over-year decline of 3.9%.
AES Corporation (AES - Free Report) is slated to report fourth-quarter results on Feb. 26, after market close. The Zacks Consensus Estimate for earnings is pegged at 62 cents per share, which implies a year-over-year increase of 14.8%.
AES’ long-term earnings growth rate is 11.17%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $3.49 billion, which implies year-over-year growth of 17.8%.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Shutterstock
Duke Energy Q4 Earnings Lag Estimates, Revenues Rise Y/Y
Key Takeaways
Duke Energy Corporation's (DUK - Free Report) fourth-quarter 2025 earnings of $1.50 per share lagged the Zacks Consensus Estimate of $1.51 by 0.6%. The bottom line also declined 9.6% from $1.66 reported in the year-ago quarter.
For 2025, CMS reported adjusted earnings of $6.31 per share, higher than the prior-year figure of $5.90.
DUK’s Total Revenues
Total operating revenues were $7.94 billion, which beat the Zacks Consensus Estimate of $7.66 billion by 3.9%. The top line also increased 7.9% from $7.36 billion in the year-ago period.
The company reported revenues of $32.24 billion in 2025, higher than $30.36 billion in 2024.
Duke Energy Corporation Price, Consensus and EPS Surprise
Duke Energy Corporation price-consensus-eps-surprise-chart | Duke Energy Corporation Quote
Highlights of DUK’s Earnings Release
Total operating expenses amounted to $5.83 billion in the reported quarter, up 11% 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 totaled $2.119 billion compared with $2.112 billion in the year-ago quarter.
Interest expenses rose to $946 million from $871 million in the fourth quarter of 2024.
The average number of customers in its Electric Utilities increased 1.5% year over year.
Total electric sales volume for the reported quarter went up 2.3% year over year to 61,726 gigawatt-hours.
DUK’s Segmental Highlights
Electric Utilities & Infrastructure: This segment’s adjusted earnings for the fourth quarter totaled $1.21 billion, down from $1.24 billion in the fourth quarter of 2024. The decline was mainly due to higher O&M and depreciation on a growing asset base and interest expense, partially offset by the recovery of infrastructure investments.
Gas Utilities & Infrastructure: Adjusted earnings from this segment amounted to $230 million compared with $231 million in the fourth quarter of 2024.
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 $272 million compared with a loss of $186 million in the fourth quarter of 2024.
Financial Condition of DUK
As of Dec. 31, 2025, Duke Energy had cash & cash equivalents of $245 million compared with $314 million as of Dec. 31, 2024.
As of Dec. 31, 2025, the long-term debt was $80.11 billion compared with $76.34 billion as of Dec. 31, 2024.
The company generated net cash from operating activities of $12.330 billion in 2025 compared with $12.328 billion last year.
2026 Guidance by DUK
Duke Energy expects to generate 2026 adjusted EPS in the range of $6.55-$6.80. The Zacks Consensus Estimate for 2025 earnings is pegged at $6.70, which is higher than the midpoint of the company’s projected range.
DUK extends its long-term EPS growth of 5-7% through 2030.
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.
Upcoming Utility Releases
Edison International (EIX - Free Report) is scheduled to report fourth-quarter results on Feb. 18, after market close. The Zacks Consensus Estimate for earnings is pegged at $1.47 per share, which suggests a year-over-year increase of 40%.
EIX’s long-term (three to five years) earnings growth rate is 10.93%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $4.38 billion, which implies a year-over-year improvement of 9.9%.
Alliant Energy (LNT - Free Report) is slated to report fourth-quarter results on Feb. 19, after market close. The Zacks Consensus Estimate for earnings is pegged at 58 cents per share, which implies a year-over-year decrease of 17.1%.
LNT’s long-term earnings growth rate is 7.15%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $937.84 million, which implies a year-over-year decline of 3.9%.
AES Corporation (AES - Free Report) is slated to report fourth-quarter results on Feb. 26, after market close. The Zacks Consensus Estimate for earnings is pegged at 62 cents per share, which implies a year-over-year increase of 14.8%.
AES’ long-term earnings growth rate is 11.17%. The Zacks Consensus Estimate for fourth-quarter sales is pinned at $3.49 billion, which implies year-over-year growth of 17.8%.