Duke Energy Corporation ( DUK ) shares rose Friday after it reported third-quarter adjusted EPS of $1.81, up from $1.62 a year ago and beating the consensus of $1.75. 

This was driven by new rates and riders, as well as increased retail sales volumes.

Revenues of $8.54 billion exceeded the consensus of $8.50 billion.

Also Read: Top Wall Street Forecasters Revamp Duke Energy Expectations Ahead Of Q3 Earnings

Segment Details

Adjusted segment income for Electric Utilities and Infrastructure rose to $1.66 billion in the quarter from $1.46 billion a year earlier.

The increase was driven by new rates and higher retail sales, partially offset by milder weather, higher interest expense, and increased depreciation and property taxes.

On the other hand, adjusted segment loss for Gas Utilities and Infrastructure came in at $26 million, compared with a $22 million loss a year earlier.

The benefits from rate increases and riders were offset by higher O&M expenses and increased depreciation.

Cash Position

Operating cash flow was $8.67 billion for the nine months ended Sept. 30, 2025.

Cash and cash equivalents totaled $739 million at the end of the quarter.

Management Commentary

Harry Sideris, Duke Energy ( DUK ) president and chief executive officer, said, “With our economic development pipeline continuing to progress and concrete investment plans in place, we are reaffirming our long-term EPS growth rate and have confidence we will earn in the top half of the range beginning in 2028.”

“Furthermore, as load growth materializes across our jurisdictions, we are expecting our new five-year capital plan to be between $95 and $105 billion when we refresh the plan in February, increasing the largest capital plan in the industry.”

Outlook

Duke Energy ( DUK ) narrowed fiscal 2025 adjusted EPS guidance to $6.25-$6.35 (from $6.17-$6.42) versus the consensus of $6.33.

The company reaffirmed its long-term adjusted EPS growth rate of 5% to 7% through 2029.

Price Action: DUK shares were trading higher by 1.23% to $123.43 at last check Friday.

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