CLAIM #21979 · DUK (DUK) · 2024Q3 earnings call · Nov 7, 2024 · due Dec 31, 2024
“As a result and based on what we know today, we are reaffirming our 2024 guidance range, trending to the lower half.”
Lynn Good · CEO
In context
“are of $1.62 for the third quarter compared to $1.94 last year. Brian will discuss the results in more detail, but I wanted to highlight a few things influencing this comparison. As you know, 2023 was impacted by historically weak weather early in the year and mitigation in the second half of the year. Significant mitigation efforts positively impacted third-quarter 2023 results. Third quarter of 2024 includes the full impact of Hurricane Debby and the mobilization of resources for Hurricane Helene. Helene and Milton will impact the fourth quarter. And for both storms, we're working with preliminary cost estimates which we will finalize by year-end. Hurricane costs are largely deferred or capitalized. However, there are a few exceptions and there's no recovery mechanism for lost revenues. As a result and based on what we know today, we are reaffirming our 2024 guidance range, trending to the lower half. We are actively pursuing mitigation measures, some of which will naturally occur because of the resources devoted to the storms and others we will trigger through controlled spending through the balance of the year. And we will look for every opportunity without compromising on our commitment to safety and to our customers. As we look ahead to 2025 and beyond, we have strong momentum driven by our track record of constructive regulatory outcomes, including our recent IRP approvals in the Carolinas, as well as our robust growth in our attractive jurisdictions. These tailwinds give us confidence in our long-term outlook and we are reaffirming our 5% to 7% EPS growth rate through 2028, up the midpoint of our 2024 range. And with that, I'll hand the call over to Harry. Harry Sideris: Thank yo”
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SEC filings for DUK ↗ · Claim quote is verbatim from the 2024Q3 earnings call.