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Duke Energy
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Latest analysis
Updated Aug 4, 2026
Duke Energy Q2 2026: 7.8 GW data center ESAs signed, $15 GW generation build on track, 5%-7% EPS CAGR reaffirmed through 2030.
Duke Energy delivered Q2 2026 adjusted EPS of $1.43, reaffirming full-year 2026 guidance of $6.55–$6.80 and long-term 5%–7% EPS growth through 2030 with confidence to earn the top half beginning in 2028. The company has now secured 7.8 gigawatts of electric service agreements with data center customers and is executing the industry's largest regulated capital plan, deploying over $1 billion per month. Generation additions are on track to reach 15 gigawatts by 2031, with 5 gigawatts of gas under construction and an additional 2.5 gigawatts advancing through development. Large load projects in Florida and Indiana represent $5 billion to $10 billion of potential capital upside within the current 5-year plan, contingent on ESA signings by the first half of 2027.
Tone: bullishRevenue
$31.7B
DUK 10-K · FY 2025
Employees
26,441
Revenue FY2024
$30.1B
Founded
2005
Profile
DUK 10-K Item 1 · Feb 26, 2026Duke Energy Corporation is a regulated electric and natural gas utility headquartered in Charlotte, North Carolina, serving approximately 8.7 million electric customers across the Southeast and Midwest U.S. through generation, transmission, distribution and sale of electricity, and approximately 1.8 million natural gas customers through its Gas Utilities and Infrastructure segment. The company operates two reportable business segments — Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I) — across six states covering roughly 90,000 square miles of electric service territory.
Read filing description ↓ Collapse description ↑
Duke Energy was incorporated on May 3, 2005, and is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Duke Energy's segment structure includes two reportable business segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). EU&I conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio. EU&I provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 8.7 million customers within the Southeast and Midwest regions of the U.S. The service territory is approximately 90,000 square miles across six states with a total estimated population of 27 million. GU&I conducts natural gas operations primarily through the regulated public utilities of Piedmont, Duke Energy Ohio and Duke Energy Kentucky. GU&I has approximately 1.8 million total customers, including 1 million customers in the Carolinas, 205,000 customers in Tennessee and 565,000 customers in southwestern Ohio and northern Kentucky. EU&I owns approximately 55,713 MW of generation capacity comprising nuclear, fossil, hydro and renewable resources. Duke Energy also holds a 17.5% equity interest in NMC, a petrochemicals joint venture with production facilities in Jubail, Saudi Arabia, reported outside the two primary segments. The company serves residential, commercial, industrial, and wholesale customers and is subject to rate regulation by state utility commissions in North Carolina, South Carolina, Florida, Ohio, Indiana and Kentucky, as well as by the FERC.
Primary products
- Retail electric service (generation, transmission, distribution and sale of electricity)
- Wholesale electric power sales
- Natural gas distribution
- Natural gas transmission and storage
- Renewable natural gas
Business segments
End markets
Geographies
Named customers
Named competitors
“EU&I's businesses operate as the sole supplier of electricity within their service territories, with the exception of Ohio, which has a competitive electricity supply market for generation service.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues increased from $30.357 billion in 2024 to $32.237 billion in 2025, driven by recovery of growing infrastructure investments, customer growth and higher electric utility revenues across segments.
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