Categories Analysis, Energy

Earnings Summary: Highlights of Duke Energy’s (DUK) Q1 2024 results

Energy holding company Duke Energy (NYSE: DUK) Tuesday announced results for the first quarter of 2024, reporting an increase in operating revenues and adjusted earnings.

  • Total operating revenues increased to $7.67 billion in the first quarter from $7.28 billion in the same period last year
  • On an unadjusted basis, first-quarter earnings advanced to $1.44 per share from $1.01 per share a year earlier
  • Adjusted earnings came in at $1.44 per share in the March quarter, compared to $1.20 per share in Q1 2023
  • Net income available to shareholders increased to $1.1 billion in Q1 from $765 million last year
  • Electric Utilities and Infrastructure recognized segment income was $1.02 billion in the first quarter
  • Gas Utilities and Infrastructure recognized first-quarter 2024 segment income wa $284 million
  • The company reaffirmed its guidance of full-year 2024 adjusted earnings per share in the range of $5.85 to $6.10
  • It continues to expect the long-term adjusted EPS growth rate to be between 5% to 7% through 2028, off the 2024 midpoint of $5.98

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