Duke Energy's Segment Strength Fuels Q1 Beat, Reaffirms Guidance

Duke Energy Corporation DUK shares are trading higher premarket on Tuesday after the company reported first-quarter adjusted EPS of $1.76, up from $1.44 a year ago and beating the consensus of $1.60. 

Revenues of $8.25 billion exceeded the consensus of $8.06 billion.

Electric Utilities and Infrastructure’s segment income increased to $1.28 billion from $1.02 billion a year ago, led by higher retail sales volumes, better weather and the implementation of new rates.

On the other hand, the Gas Utilities and Infrastructure segment reported segment income of $349 million compared to $284 million in the first quarter of 2024, aided by higher growth rates.

At the end of the quarter, operating cash flow was $2.2 billion, and cash and equivalents were $475 million. 

FY25 Outlook Reaffirmed: Duke Energy expects adjusted EPS of $6.17 – $6.42 vs consensus of $6.32.

The company reaffirmed its long-term adjusted EPS growth rate of 5% to 7% through 2029, which is off the 2025 midpoint of $6.30.

Investors can gain exposure to the stock via SPDR Select Sector Fund – Utilities XLU and Vanguard Utilities ETF VPU.

Price Action: DUK shares are up 0.83% at $121.75 premarket at the last check on Tuesday.

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