Duke Energy (D2MN) Q3 2026 Earnings Report
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CH:D2MN Q3 2026 EPS Results
- Actual EPS
- CHF 1.63
- Consensus EPS
- CHF 1.52
- Beat/Miss
- Beat by +CHF 0.10
- One Year Ago EPS
- CHF 1.48
CH:D2MN Q3 2026 Revenue Results
- Actual Revenue
- CHF 7.44B
- Expected Revenue
- CHF 7.28B
- Beat/Miss
- Beat by +CHF 159.62M
- YoY Revenue Growth
- +6.58%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/05/2026
- Time
- Before Open
- Conference Call
- Thursday, November 5, 2026
CH:D2MN Upcoming Earnings
Duke Energy's next earnings date is estimated for February 11, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
CH:D2MN Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive. Duke reported year-over-year EPS growth, narrowed 2026 guidance toward the top end, reaffirmed 5% to 7% long-term EPS growth, and highlighted substantial load growth, capital investment, regulatory progress and project development. The company also cited several offsets and execution challenges, including higher depreciation and interest expense, a required Florida tariff refiling, a denied Smith CPCN and slower complex contract negotiations, but management expressed confidence in addressing these items and maintaining its growth plan.
Company Guidance
Duke Energy narrowed its 2026 adjusted EPS guidance range to $6.70 to $6.80 and expects to finish the year near the top end, while reaffirming 5% to 7% long-term earnings per share growth through 2030 with confidence to earn in the top half of the range beginning in 2028. The company expects 3% to 4% load growth, plans to add 16 gigawatts of capacity by 2031, and is investing under a $103 billion capital plan with $5 billion to $10 billion of upside capital for large load customers. Duke remains confident in converting the full 15.4 gigawatt late-stage pipeline to ESAs by the first half of 2027, while 5.2 gigawatts of data centers currently under construction remain on schedule to begin taking energy in the second half of 2027 and into 2028; it also expects to achieve its 14.5% FFO-to-debt target for 2026.
- Third-Quarter EPS GrowthAdjusted and reported earnings per share were $1.99, up from $1.81 in the prior year. Electric Utilities and Infrastructure increased earnings by $0.20, driven by rate cases and riders, higher sales volumes and hot summer weather.
- Raised Confidence in 2026 GuidanceDuke narrowed its 2026 adjusted EPS guidance range to $6.70 to $6.80 and expects to finish the year near the top end.
- Long-Term EPS Growth Outlook ReaffirmedThe company reaffirmed its 5% to 7% long-term EPS growth rate through 2030 and remains confident it will deliver in the top half of the range beginning in 2028, supported by accelerated growth from economic development projects secured under electric service agreements.
- Large Capital Plan and Upside OpportunitiesEarnings growth is underpinned by a $103 billion capital plan, with $5 billion to $10 billion of upside capital identified for generation and transmission investments to serve large load customers, particularly in Indiana and Florida.
- Federal Funding SupportDuke was selected for a $50 million Department of Energy grant supporting advanced transmission projects in North and South Carolina. Total announced DOE grant funding for the year reached nearly $150 million, helping offset project costs.
- Storm Response and Operational ExcellenceDuke received an EEI Emergency Recovery Award for its response to Winter Storm Fern and safely restored nearly 200,000 Carolina customers within 48 hours in January. Management also cited responses to a rare Midwest derecho and Hurricane Isaias while maintaining reliable service through extreme summer heat.
- Progress on North Carolina Regulatory SettlementsDuke reached a comprehensive settlement in its Duke Energy Progress rate case after previously reaching a settlement in the Duke Energy Carolinas case. The company expects orders on both cases by mid-November, with rates effective in January 2027, and expects customer rates to remain below the national average.
- Large Load Tariff SettlementDuke reached a settlement with Public Staff and several large customers regarding its proposed large load tariff. The company said the settlement balances protecting existing customers with supporting economic growth and includes protections such as long-term contracts, minimum demand charges, early termination penalties, interruptibility, credit support and capital advances.
- Indiana Growth and Rate-Plan PreparationDuke provided notice of its intent to file its first multiyear rate plan in Indiana and said it starts from a strong position with some of the lowest residential rates in the state. The company is advancing its large-load pipeline and feels confident it can sign some electric service agreements before the end of the first half of 2027.
- Generation Expansion ProgramDuke is advancing one of the largest generation expansion programs in the industry, adding 16 gigawatts of capacity by 2031. The program includes more than 5 gigawatts of natural gas generation under construction in the Carolinas and Indiana, another 5 gigawatts in development, and additional battery storage and solar.
- Carolinas Resource Plan and Gas ProjectsDuke filed its 2026 South Carolina resource plan with an all-of-the-above strategy including combined cycles, combustion turbines, increased battery storage and continued solar development. The company received approval for its first out-of-state CPCN filing for the Anderson County combined-cycle plant and prefiled CPCNs for two combined-cycle plants totaling nearly 2,800 megawatts at the Davie-Davidson site.
- Potential LNG Storage FlexibilityDuke continues to evaluate a liquefied natural gas storage facility at the Davie-Davidson site, which management said would provide greater supply flexibility and diversity while reducing exposure to price volatility and supporting reliable and affordable service.
- Strong 2027 Load Growth OutlookDuke expects 3% to 4% load growth, supported by continued customer growth and the ramp-up of economic development projects. Third-quarter demand increased 2%, the strongest quarterly growth since 2022, while residential customer growth was nearly 2% and advanced manufacturing loads were beginning to come online.
- Large Load Pipeline ConversionDuke remains confident in converting the full 15.4 gigawatt late-stage pipeline into electric service agreements by the first half of 2027. Multiple projects executed preliminary agreements and provided deposits for initial transmission system work, with $5 billion to $10 billion of potential capital tied to final contract execution.
- Data Center Projects on ScheduleThe 5.2 gigawatts of data centers currently under construction remain on schedule to begin taking energy in the second half of 2027 and into 2028.
- Capital Deployment IncreasingDuke is investing about $1.5 billion per month currently and expects that pace to increase to about $2 billion per month beginning in 2027. Management cited the generation build, including natural gas, batteries and solar, as underpinning the higher capital deployment.
- Balance Sheet and Financing ProgressDuke remains on track to achieve its 14.5% FFO-to-debt target for 2026. The company is supporting its growth capital plan with $10 billion of equity and has already addressed one-third of its expected needs, including $825 million priced through its ATM program year-to-date and $2 billion of mandatory convertible equity units issued in August.
- Brookfield Investment AccelerationBrookfield plans to accelerate $1 billion of its investment from 2028 to December, with the remaining $2 billion funded in 2027. Management said the acceleration is net-net accretive, helps delever the holding company and reduces the need to access the holding-company market in 2027.
- Nuclear Fleet InvestmentDuke plans to add 300 megawatts to its existing nuclear units over the next five years and extend the lives of its current plants to 80 years. Two life extensions are approved and the company is filing the third while continuing to evaluate future new-nuclear opportunities.
- Florida Large-Load Development ContinuesAlthough Florida provided feedback on Duke's filed tariff, the company said it is adjusting and refiling the tariff while continuing customer discussions and advancing the required generation and transmission plans with no slowdown in the Florida process.
CH:D2MN Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 11, 2027 | 2026 (Q4) | 1.21- | 1.23 | ― | ― |
| Nov 05, 2026 | 2026 (Q3) | 1.521.63 | 1.48 | 9.94% (+0.15) | |
| Aug 04, 2026 | 2026 (Q2) | 1.071.17 | 1.02 | 14.40% (+0.15) | |
| May 05, 2026 | 2026 (Q1) | 1.531.58 | 1.44 | 9.66% (+0.14) | |
| Feb 10, 2026 | 2025 (Q4) | 1.211.23 | 1.36 | -9.64% (-0.13) | |
| Nov 04, 2025 | 2025 (Q3) | 1.441.48 | 1.32 | 11.73% (+0.16) | |
| Aug 05, 2025 | 2025 (Q2) | 0.961.02 | 0.96 | 5.93% (+0.06) | |
| May 06, 2025 | 2025 (Q1) | 1.301.44 | 1.18 | 22.22% (+0.26) | |
| Feb 13, 2025 | 2024 (Q4) | 1.351.36 | 1.23 | 9.93% (+0.12) | |
| Nov 07, 2024 | 2024 (Q3) | 1.391.32 | 1.59 | -16.49% (-0.26) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
