Duke Energy Q3 EPS Falls Short On Higher Costs And Storm Impacts, Reaffirms FY24 Outlook

Duke Energy Corporation (NYSE:DUK) reported third-quarter adjusted EPS of $1.62, down from $1.94 a year ago and missing the consensus of $1.70. 

Revenues of $8.154 billion exceeded the consensus of $8.058 billion.

Electric Utilities and Infrastructure’s adjusted segment income declined to $1.464 billion from $1.531 billion a year ago. 

Quarterly results declined primarily due to increased O&M expenses, including storm-related costs, higher depreciation from an expanding asset base, rising interest expenses, and the impact of milder weather.

On the other hand, the Gas Utilities and Infrastructure segment reported an an adjusted loss of $22 million compared to an adjusted segment income ...