In This Story
Duke Energy Corporation (DUK-1.34%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total operating revenues of $8,154 million, compared to $7,994 million in the same quarter the previous year. The increase is attributed to higher regulated electric revenues.
Operating expenses for the quarter totaled $6,017 million, compared to $5,891 million in the previous year. The increase is primarily due to higher fuel costs and depreciation expenses.
The company reported an operating income of $2,144 million for the quarter, compared to $2,111 million in the previous year. This reflects the impact of increased revenues and expenses.
Net income attributable to Duke Energy Corporation was $1,281 million for the quarter, compared to $1,252 million in the previous year. After preferred dividends and redemption costs, net income available to common stockholders was $1,226 million, compared to $1,213 million in the previous year.
Duke Energy's cash provided by operating activities was $8,951 million for the nine months ended September 30, 2024, while cash used in investing and financing activities was $9,851 million and $990 million, respectively.
The company had a working capital of $12,142 million as of September 30, 2024. Duke Energy continues to focus on maintaining liquidity and managing its capital structure.
The filing also details various regulatory matters, including rate cases and storm recovery efforts, particularly related to hurricanes Helene, Debby, and Milton.
Duke Energy's report highlights ongoing investments in infrastructure, including the construction of new hydrogen-capable combustion turbines and combined-cycle facilities.
The company does not anticipate cash dividend payments to common stockholders in the near future due to ongoing capital expenditures and regulatory obligations.
Duke Energy identified a material weakness in its internal controls over financial reporting due to challenges in implementing a new customer system.
The company continues to focus on its carbon emission reduction goals and regulatory compliance, including the management of coal ash and nuclear decommissioning obligations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Duke Energy Corporation (Holding Company) quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.