Duke Energy reported a strong finish to 2025, exceeding financial goals and extending long-term EPS growth targets. The company is well-positioned for future growth driven by its significant capital plan and demand from emerging industries.
Full-year 2025 reported and adjusted EPS of $6.31, exceeding prior year's $5.71 reported and $5.90 adjusted EPS.
positiveCompany extends long-term adjusted EPS growth rate of 5% to 7% through 2030, with confidence to earn in the top half of the range beginning in 2028.
positiveFourth-quarter 2025 reported EPS of $1.50, compared to $1.54 for the fourth quarter of 2024.
neutralFourth-quarter 2025 adjusted EPS of $1.50, compared to $1.66 for the fourth quarter of 2024.
neutralFourth-quarter 2025 adjusted EPS of $1.50, compared to $1.66 for the fourth quarter of 2024, a decrease of $0.16 per share.
attentionLower full-year 2025 adjusted results were partially offset by higher O&M, interest expense, property taxes and depreciation on a growing asset base.
attentionLower quarterly results for the fourth quarter of 2025 compared to last year were primarily driven by higher O&M, interest expense, depreciation on a growing asset base, contributions to the Duke Energy Foundation, along with a higher effective tax rate.
attentionConsolidated adjusted effective tax rate for Q4 2025 was 11.3% compared to 9.3% in Q4 2024.
attentionInventory levels increased from $4,496 million in FY2024 to $4,569 million in FY2025.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Electric Utilities and Infrastructure | N/A | — | — | — |
Gas Utilities and Infrastructure | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
The fourth quarter marked a strong finish to a productive year, where we met every financial goal, progressed our economic development pipeline, broke ground on 5 gigawatts of new dispatchable generation resources, and continued to deliver value for customers.
The cost of energy has always been and will remain a key focus for our company. We continue to find new ways to deliver affordable energy for our customers, keeping our rates below the national average and rate changes below inflation.
We enter 2026 with incredible momentum. The fundamentals of our business have never been stronger, and we operate in some of the most attractive jurisdictions in the nation.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.