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Duke Energy Q1 Earnings Beat Estimates, Revenues Increase Y/Y
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Key Takeaways
DUK beat Q1 estimates with EPS of $1.93 and revenues of $9.18B, both up year over year.
Duke Energy saw higher costs from fuel, power purchases, and O&M, lifting total expenses 15.6%.
DUK's electric unit gained from infrastructure recovery and weather, while interest expenses increased.
Duke Energy Corporation's (DUK - Free Report) first-quarter 2026 earnings of $1.93 per share surpassed the Zacks Consensus Estimate of $1.79 by 7.6%. The bottom line increased 9.7% from $1.76 reported in the year-ago quarter.
DUK’s Revenues
Total operating revenues were $9.18 billion, which beat the Zacks Consensus Estimate of $8.4 billion by 9%. The top line increased 11.3% from $8.25 billion in the year-ago period.
Duke Energy Corporation Price, Consensus and EPS Surprise
Operating expenses amounted to $6.84 billion, up 15.6% year over year. The increase was primarily driven by higher expenses for fuel used in electric generation and purchased power, cost of natural gas, operation, maintenance and other and depreciation and amortization.
The operating income totaled $2.73 billion compared with $2.34 billion in the year-ago quarter.
Interest expenses rose to $968 million from $889 million in the first quarter of 2025.
The average number of customers in its Electric Utilities and Infrastructure increased 1.4% year over year.
Total electric sales volume for the reported quarter went up 0.3% year over year to 65,454 gigawatt-hours.
DUK’s Segmental Highlights
Electric Utilities & Infrastructure: This segment’s adjusted earnings totaled $1.4 billion, up from $1.28 billion in the first quarter of 2025. This was primarily driven by the recovery of infrastructure investments aimed at reliably serving customers across its expanding jurisdictions, along with favorable weather conditions. These positives were partially offset by higher O&M expenses, including storm-related costs, as well as increased depreciation tied to a growing asset base.
Gas Utilities & Infrastructure: Adjusted earnings from this segment amounted to $361 million compared with $349 million in the first quarter of 2025.
Other: The segment includes corporate interest expenses not allocated to other business units, resulting from Duke Energy’s captive insurance company and other investments. On an adjusted basis, this segment incurred a loss of $263 million compared with a loss of $260 million in the first quarter of 2025.
Financial Condition of DUK
As of March 31, 2026, Duke Energy had cash & cash equivalents of $2.14 billion compared with $0.245 billion as of Dec. 31, 2025.
As of March 31, 2026, the long-term debt was $80.48 billion compared with $80.11 billion as of Dec. 31, 2025.
During the first three months of 2026, the company generated net cash from operating activities of $1.51 billion compared with $2.18 billion in the same period 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.
The company expects its long-term adjusted EPS growth of 5-7% through 2030.
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which missed the Zacks Consensus Estimate of $3.04 billion by 1.4%. The top line improved 2% from the year-ago reported figure of $2.92 billion.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2026 earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.11 by 1.8%. The bottom line also increased 10.8% from $1.02 in the prior-year quarter.
CMS’ operating revenues totaled $2.73 billion, which topped the Zacks Consensus Estimate of $2.53 billion by 8.1%. The top line also increased 11.6% from $2.45 billion in the prior-year quarter.
Edison International (EIX - Free Report) posted quarterly earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.32 by 7.6%. The bottom line also increased 3.7% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line increased 7.6% from the year-ago quarter’s figure of $3.81 billion.
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Duke Energy Q1 Earnings Beat Estimates, Revenues Increase Y/Y
Key Takeaways
Duke Energy Corporation's (DUK - Free Report) first-quarter 2026 earnings of $1.93 per share surpassed the Zacks Consensus Estimate of $1.79 by 7.6%. The bottom line increased 9.7% from $1.76 reported in the year-ago quarter.
DUK’s Revenues
Total operating revenues were $9.18 billion, which beat the Zacks Consensus Estimate of $8.4 billion by 9%. The top line increased 11.3% from $8.25 billion in the year-ago period.
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
Operating expenses amounted to $6.84 billion, up 15.6% year over year. The increase was primarily driven by higher expenses for fuel used in electric generation and purchased power, cost of natural gas, operation, maintenance and other and depreciation and amortization.
The operating income totaled $2.73 billion compared with $2.34 billion in the year-ago quarter.
Interest expenses rose to $968 million from $889 million in the first quarter of 2025.
The average number of customers in its Electric Utilities and Infrastructure increased 1.4% year over year.
Total electric sales volume for the reported quarter went up 0.3% year over year to 65,454 gigawatt-hours.
DUK’s Segmental Highlights
Electric Utilities & Infrastructure: This segment’s adjusted earnings totaled $1.4 billion, up from $1.28 billion in the first quarter of 2025. This was primarily driven by the recovery of infrastructure investments aimed at reliably serving customers across its expanding jurisdictions, along with favorable weather conditions. These positives were partially offset by higher O&M expenses, including storm-related costs, as well as increased depreciation tied to a growing asset base.
Gas Utilities & Infrastructure: Adjusted earnings from this segment amounted to $361 million compared with $349 million in the first quarter of 2025.
Other: The segment includes corporate interest expenses not allocated to other business units, resulting from Duke Energy’s captive insurance company and other investments. On an adjusted basis, this segment incurred a loss of $263 million compared with a loss of $260 million in the first quarter of 2025.
Financial Condition of DUK
As of March 31, 2026, Duke Energy had cash & cash equivalents of $2.14 billion compared with $0.245 billion as of Dec. 31, 2025.
As of March 31, 2026, the long-term debt was $80.48 billion compared with $80.11 billion as of Dec. 31, 2025.
During the first three months of 2026, the company generated net cash from operating activities of $1.51 billion compared with $2.18 billion in the same period 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.
The company expects its long-term adjusted EPS growth of 5-7% through 2030.
DUK’s Zacks Rank
Duke Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Recent Utility Releases
CenterPoint Energy, Inc. (CNP - Free Report) reported first-quarter 2026 adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 58 cents by 3.8%. However, the bottom line increased 5.7% from 53 cents in the year-ago quarter.
CNP generated revenues of $2.98 billion, which missed the Zacks Consensus Estimate of $3.04 billion by 1.4%. The top line improved 2% from the year-ago reported figure of $2.92 billion.
CMS Energy Corporation (CMS - Free Report) reported first-quarter 2026 earnings of $1.13 per share, which beat the Zacks Consensus Estimate of $1.11 by 1.8%. The bottom line also increased 10.8% from $1.02 in the prior-year quarter.
CMS’ operating revenues totaled $2.73 billion, which topped the Zacks Consensus Estimate of $2.53 billion by 8.1%. The top line also increased 11.6% from $2.45 billion in the prior-year quarter.
Edison International (EIX - Free Report) posted quarterly earnings of $1.42 per share, which beat the Zacks Consensus Estimate of $1.32 by 7.6%. The bottom line also increased 3.7% from $1.37 in the year-ago quarter.
Edison International's first-quarter operating revenues totaled $4.1 billion, which beat the Zacks Consensus Estimate of $3.99 billion by 2.8%. The top line increased 7.6% from the year-ago quarter’s figure of $3.81 billion.