CHARLOTTE – Duke Energy on Thursday reported financials that were a clean sweep in terms of beating Wall Street expectations. And CEO Lynn Good had multiple reasons to boast.
“We’ve had an excellent first half of the year, delivering strong results driven by continued growth in our regulated operations as we execute the industry’s largest clean energy transition,” Good said in a statement.
Key points:
- “We’re making great progress across our jurisdictions – enhancing reliability and resiliency through grid modernization, transitioning our fleet to cleaner energy technologies, and advancing regulatory and legislative priorities.
- “We are reaffirming our full year earnings guidance range of $5.30 to $5.60 and long-term adjusted EPS growth rate of 5% to 7% through 2026 off the 2021 original midpoint of $5.15
- “Commercial renewables has played an important role in our business strategy for over 15 years, establishing a core competency in renewable energy development and operations that will continue to serve us well as we advance our strategy. But as we look forward to the remainder of this decade and beyond, we see significant investment opportunities in our regulated operations and believe now is the time to review the strategic fit of our commercial portfolio.”
Duke reported second-quarter earnings of $907 million.
The Charlotte-based company said it had net income of $1.14 per share.
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The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.
The electric utility posted revenue of $6.69 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $6.02 billion.
Duke Energy (NYSE: DUK) expects full-year earnings in the range of $5.30 to $5.60 per share.
