Duke Energy Corporation (NYSE:DUK) reported third-quarter 2026 adjusted earnings of $1.99 per share on Thursday, exceeding analysts’ expectations of $1.88, while revenue increased 6.6% year over year to $9.1 billion, above the consensus estimate of $8.91 billion.
The utility company’s shares rose 1.09% in premarket trading following the announcement.
Duke Energy also narrowed its full-year adjusted earnings guidance to $6.70–$6.80 per share.
Infrastructure Investment Recovery Supports Earnings
Revenue increased from $8.54 billion in the corresponding quarter last year, supported by the recovery of infrastructure investment costs and favourable weather conditions.
These factors were partially offset by higher depreciation, interest expenses, minority interest investment impacts and a higher effective tax rate.
The Electric Utilities and Infrastructure segment reported quarterly income of $1.817 billion, compared with $1.658 billion a year earlier.
Meanwhile, the Gas Utilities and Infrastructure segment recorded a loss of $19 million, narrowing from a $26 million loss in the prior-year period.
“We delivered strong results through the first three quarters of the year, reflecting disciplined execution as we continue investing in the reliable service our customers depend on while keeping costs as low as possible,” said President and CEO Harry Sideris.
Full-Year Earnings Outlook Narrowed
Duke Energy updated its 2026 adjusted earnings guidance to a range of $6.70–$6.80 per share.
The midpoint of $6.75 exceeds analysts’ consensus estimate of $6.72.
The company also reaffirmed its long-term adjusted earnings per share growth target of 5% to 7% through 2030.
Management expects earnings growth to reach the upper half of that range beginning in 2028.
The revised guidance follows higher third-quarter revenue and segment earnings, while Duke Energy continues investing in infrastructure across its operating regions.