Higher Sales Volumes And Improved Rates Drive Growth

Duke Energy Reports Strong Second Quarter

Higher Sales Volumes and Improved Rates Drive Growth

Duke Energy Corporation (DUK) reported a profit in its second quarter as higher sales volumes and an increase in rates drove growth.

The company's adjusted earnings per share came in at $1.18, exceeding analysts' expectations of $1.15. Revenue also surpassed forecasts, totaling $7.17 billion for the period.

Duke Energy attributed the strong results to increased demand for electricity, as well as the impact of rate increases implemented in recent months. The company also benefited from improved performance in its natural gas and renewable energy businesses.

"We are pleased with our strong second-quarter results, which reflect the hard work and dedication of our employees," said Lynn Good, Duke Energy's chairman, president, and CEO. "Our continued focus on operational excellence and customer satisfaction is driving our success."

For the full year, Duke Energy expects to earn between $5.25 and $5.50 per share, excluding certain items. This range is slightly above the company's previous guidance of $5.15 to $5.45 per share.

Duke Energy's positive results underscore the resilience of the electric utility sector, even amid economic uncertainties. The company's focus on providing reliable and affordable energy, combined with its ongoing investments in infrastructure and clean energy, positions it well for continued growth in the years ahead.