Duke Energy Corporation, an energy provider operating across the United States with its various affiliates, structures its operations into three primary divisions: ...
Duke Energy Corporation, a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Founded in 1904, the company has evolved through a century of innovation and growth, including the 1997 merger of Duke Power and PanEnergy. Under the leadership ...Duke Energy Corporation, a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Founded in 1904, the company has evolved through a century of innovation and growth, including the 1997 merger of Duke Power and PanEnergy. Under the leadership of President and CEO Harry Sideris, Duke Energy operates through three primary business segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities segment generates, transmits, and distributes electricity across the Carolinas, Florida, and the Midwest, serving approximately 8.2 million customers across six states with a generating capacity of about 50,259 megawatts. Its diverse fuel portfolio includes coal, hydroelectric, natural gas, oil, renewables, and nuclear energy. The Gas Utilities segment distributes natural gas to about 1.6 million customers, including residential, commercial, and industrial users, and manages pipeline transmission and storage facilities. The Commercial Renewables division develops and operates wind, solar, battery storage, and fuel cell projects, with a portfolio of 23 wind farms, 178 solar installations, and other assets totaling 3,554 MW across 22 states. Financially, Duke Energy shows a market cap of approximately $97.3 billion, a price-to-earnings ratio of 18.75, and a dividend yield of 3.4%, reflecting its status as a stable utility investment. The company emphasizes sustainability and innovation, aiming to provide clean, reliable, and affordable energy while reducing carbon emissions. With about 26,441 employees, Duke Energy continues to invest in grid modernization and renewable energy to meet the evolving needs of its customers and communities. Its commitment to social responsibility and environmental stewardship positions it as a leader in the transition to a cleaner energy future.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$32.2B
+6.2%
-17.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$5.0B
+10.2%
-29.5%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+31.6%
-37.0%
+7.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+26.6%
+1.9%
-9.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+15.4%
+3.7%
-14.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-1.7B
-3583.3%
-112.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-5.2%
-3380.2%
-157.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
175.3%
+3.1%
-0.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.55x
-17.5%
-0.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Hello, everyone. Thank you for joining us, and welcome to Duke Energy Corporation's Second Quarter Earnings Conference Call. [Operator Instructions] I will now hand the conference over to Mike Switzer, Vice President of Investor Relations and Corporate Development. Mike, please go ahead.
Mike Switzer: Thank you, Lucas, and good morning, everyone. Welcome to Duke Energy's Second Quarter 2026 Earnings Review and Business Update. Leading our call today is Harry Sideris, President and CEO; along with Brian Savoy, Executive Vice President and CFO. Today's discussion will include the use of non-GAAP financial measures and forward-looking information. Actual results may differ from forward-looking statements due to factors disclosed in today's materials and in Duke Energy's SEC filings. The appendix of today's presentation includes supplemental information, along with a reconciliation of non-GAAP financial measures. With that, let me turn the call over to Harry.
Harry Sideris: Thank you, Mike, and good morning, everyone. It's great to be with you for our second quarter earnings call. Today, we announced adjusted earnings per share of $1.43, continuing our strong execution in the first half of the year. The results were driven by growth at our Electric Utilities as we continue to make critical infrastructure investments to meet growing customer demand in our service territories. With our largest quarter still ahead of us, we remain firmly on track to achieve our 2026 guidance range of $6.55 to $6.80. We are also reaffirming our long-term earnings per share growth rate of 5% to 7% through 2030, and we are more confident than ever that we will deliver in the top half of the range beginning in 2028 when we expect to see accelerated growth from the economic development projects we have secured under ESAs. Growth continues to define our service territories. CNBC recently named Ohio the top state for business with 4 of our states ranked in the top 10, and North Carolina was recognized as the top economy for its strong economic and job growth. To meet this record demand and to continue long-term value for our customers, communities, and shareholders, we're executing on the industry's largest regulated capital plan, deploying more than $1 billion per month. We are laser-focused on disciplined execution and responsible financial stewardship as our priority has been and always will be providing customers reliable power at the lowest possible cost. Moving to Slide 5. We are advancing our strategic priorities, including regulatory execution. Last month, we were pleased to reach a comprehensive settlement with North Carolina Public Staff and other interveners in our DEC rate case, building on our long track record of collaborating with stakeholders to achieve constructive regulatory outcomes. This agreement demonstrates our commitment to cost effectively serve our customers while continuing to support investments needed to improve reliability and modernize …
