Future

2024

Fortune

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<p class="has-drop-cap">Duke Energy (NYSE: DUK), a Charlotte, North Carolina-based Fortune 150 company, has reported its <a aria-label="fourth-quarter (opens in a new tab)" href="https://www.prnewswire.com/news-releases/duke-energy-reports-fourth-quarter-and-full-year-2023-financial-results-302057455.html" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">fourth-quarter</a> and full-year financial results for 2023, showcasing a year of strategic achievements and operational growth.</p>
<p>Duke Energy’s fourth-quarter 2023 results highlighted a significant rebound, with reported <a href="https://tokenist.com/investing/fundamental-analysis-stocks/" rel="noopener noreferrer nofollow" class="deco-link">EPS</a> at $1.27 compared to a reported loss per share of $0.86 for the same quarter in 2022. The adjusted EPS for the quarter stood at $1.51, an improvement from $1.11 in the fourth quarter of 2022. <br><br>This performance was primarily attributed to lower O&amp;M expenses, favorable rate case impacts, growth from riders and other retail margins, and lower tax expenses. Higher interest expenses and depreciation on a growing asset base partially offset these benefits. <br><br>The Electric Utilities and Infrastructure segment saw a notable increase in segment income, driven by similar factors, along with the impacts of the Duke Energy Carolinas rate case order, which was excluded from adjusted earnings.</p>
<h3 id="duke-energy-falls-short-of-expectations-in-q4">Duke Energy Falls Short of Expectations in Q4</h3>
<p>The company’s fourth-quarter performance fell short of the market expectations, which had projected an EPS of $1.55 and revenue of $7.24 billion. The reported adjusted EPS of $1.51 indicates a slight miss against expectations, suggesting areas where Duke Energy faced challenges, including higher interest expenses and depreciation costs. Despite these hurdles, the company achieved a commendable growth rate in its earnings, underscoring its resilience and strategic operational adjustments.</p>
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<h3 id="guidance-for-the-future">Guidance for the Future</h3>
<p>Looking forward, Duke Energy has set a positive tone with its guidance for the upcoming periods. The company has introduced an adjusted EPS guidance of $5.85 to $6.10 for 2024 and reaffirmed its long-term adjusted EPS growth rate of 5% to 7% through 2028. Constructive rate case outcomes and a clear strategy for portfolio simplification support this outlook. The company’s five-year capital plan has been increased to $73 billion, reflecting its commitment to supporting unprecedented growth in the communities it serves. These projections indicate Duke Energy’s confidence in its business model and strategic initiatives to foster sustainable growth.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/duke-energy-duk-misses-market-expectations-with-1-51-eps-in-q4/">Duke Energy (DUK) Misses Market Expectations with $1.51 EPS in Q4</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Duke Energy (DUK) Misses Market Expectations with $1.51 EPS in Q4

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