Duke Energy has released its financial results for Q4 2024, showing significant improvement in earnings per share. Projections for 2025 have also been provided.
Financial Results for Q4 2024
The company reported an EPS of $1.54, an increase from $1.27 in the same quarter last year. Adjusted EPS stood at $1.66 compared to $1.51 the previous year. This growth was primarily driven by increased revenue from rate hikes despite pressure from rising interest expenses and depreciation.
Comparison With Market Expectations
When compared to market expectations, Duke Energy’s results were mixed, as the company did not meet the consensus despite adjusted EPS being close to anticipated figures. The revenue was $7.36 billion, below the expected $7.7 billion. The Electric Utilities and Infrastructure segment's performance was bolstered by strategic rate hikes, whereas the Gas segment saw a decline due to renewable natural gas investment impairments.
2025 Guidance
The company forecasts an adjusted EPS range of $6.17 to $6.42 for 2025. The long-term EPS growth target of 5% to 7% per year through 2029 has been affirmed. With an $83 billion capital investment plan, Duke Energy aims to fund clean energy projects. The transition to CEO Harry Sideris indicates a focus on infrastructure investments and corporate growth.
Duke Energy shows confidence in the future, planning significant capital investments and maintaining a course toward increased operational efficiency, reaffirming their commitment to sustainable development.
