Duke Energy narrowed its 2026 adjusted earnings range after third-quarter earnings per share increased, giving the utility a firmer full-year target as it pursues a large generation expansion.
Third-quarter earnings were $1.99 per share on both reported and adjusted bases, compared with $1.81 in the year-earlier period. The updated adjusted range for 2026 is $6.70 to $6.80 per share. Duke furnished its earnings release as Exhibit 99.1 to a Form 8-K filed with the Securities and Exchange Commission on Nov. 5; the filing lists results of operations and financial condition among its disclosure items.
Duke said favorable weather and the recovery of spending on infrastructure in growing service areas helped lift results. The company said the effective tax rate, interest expense, higher depreciation and minority-interest investment effects partly offset the gains.
The Electric Utilities and Infrastructure segment reported income of $1.817 billion, compared with $1.658 billion a year earlier. Gas Utilities and Infrastructure recorded a $19 million loss, narrower than its $26 million loss in the same quarter last year. Both segments improved year over year on the reported measures, although the gas business remained in the red.
Duke said its year-to-date performance puts it in position to deliver 2026 results near the high end of the revised range. The company maintained its target for adjusted earnings per share to grow 5% to 7% annually through 2030, using $6.30—the midpoint of its 2025 guidance—as the baseline. Duke said it is confident it can earn in the top half of that growth range beginning in 2028.
The company is also working on a generation build intended to add 16 gigawatts of capacity by 2031. President and Chief Executive Officer Harry Sideris said Duke’s focus is on ensuring that growth benefits everyone, including existing customers and the communities it serves.
