Duke Energy Corp.
DUK - Insider Information
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Earnings Call Q2 2026
August 4, 2026 - AI Summary
2026 earnings momentum + full-year outlook reaffirmed
- Duke reported Q2 2026 adjusted EPS of $1.43 (reported $1.38), vs $1.25 in the prior year quarter for both reported and adjusted EPS.
- Management attributes strength mainly to Electric Utilities growth (customer growth + infrastructure investments), partially offset by higher depreciation and higher interest expense.
- Full-year 2026 guidance reiterated: EPS $6.55 to $6.80 (top-half target emphasized).
- Long-term outlook reaffirmed: 5%–7% EPS growth through 2030, with confidence to deliver the top half starting in 2028 as secured large-load/esas ramp.
Large-load growth engine is real, but contract timing is the key gating factor
- Duke continues pushing customer Electric Service Agreements (ESAs) for data centers/large load:
- Secured 7.8 GW of ESAs with data center customers (management framed as “now secured”).
- Remains targeting conversion of the broader 15.4 GW pipeline to ESAs by 1H 2027.
- Management stated they are on track to land the 15 GW in late stages by 1H 2027 (important to hitting 2028 ramp expectations).
- Forecast upgrade impact: newly signed ESAs increased the Carolinas load forecast to the “high load” case → management says it confirms near-term resources are needed.
Capital intensity is very high (opportunity + execution risk)
- Duke is deploying > $1 billion per month of regulated capital to meet demand and reliability needs.
- Construction/generation build target: on track to add ~15 GW of capacity by 2031 (including additions from latest 10-year site plan in Florida).
- Gas build execution: building/advancing dispatchable capacity; gas turbines availability increased under a GE Vernova framework to 26 turbines (first turbine delivered July, second later this year).
- Opportunity: management sees “$5B–$10B” of additional capital upside tied to large-load contracting beyond current plans (especially Indiana and Florida), expected to fall within the current 5-year plan upon ESA-triggered modeling.
- Risk/challenge acknowledged indirectly: ESA negotiations can take longer due to complexity; management did not flag doubt on the targets, but repeatedly indicated timing is dynamic.
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$70.58
45.6% downside
Current Fair Value
45.6% downsideOvervalued by 45.6% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $99.33 Billion |
|---|---|
| Enterprise Value | $190.86 Billion |
| Annual dividend | $4.28 |
| Dividend yield | 3.36% |
| Earnings per Share | $6.31 |
| Beta | 0.35 |
| Outstanding Shares | 779,000,000 |
Return
| Return on Equity | 9.58% |
|---|---|
| Return on Assets | 2.61% |
| Return on Invested Capital | 5.43% |
Valuation & Multiples
| P/E Ratio | 19.13 |
|---|---|
| PEG | 174.27 |
| Price to Sales | 3.09 |
| Price to Book Ratio | 1.8 |
| Enterprise Value to Revenue | 5.74 |
| Enterprise Value to EBIT | 19.39 |
| Enterprise Value to Net Income | 36 |
| Total Debt to Enterprise | 0.48 |
| Debt to Equity | 1.68 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 4, 2026
EPS Estimate
$1.30
Consensus analyst estimateRevenue Estimate
$7.66 B
Consensus analyst estimateNext Earnings Call
Expected Date
November 5, 2026
EPS Estimate
$1.86
Consensus analyst estimateRevenue Estimate
$8.91 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 65.02% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.41%▼ 67.70% |
|---|---|
| Total Invested | $3.03B▼ 95.68% |
| Investors Holding | 1,023▼ 1524.00% |
About Duke Energy Corp.
2,018 employees
CEO: Lynn Good
Duke Energy, a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated ut...