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Duke Energy (NYSE: DUK) lifts Q2 2026 EPS and reaffirms growth guidance

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Duke Energy Corporation reported second-quarter 2026 earnings per share (EPS) of $1.38 on a GAAP basis and $1.43 on an adjusted basis, compared with $1.25 reported and adjusted EPS in the second quarter of 2025. The $0.05 difference between reported and adjusted EPS in 2026 reflects $39 million of regulatory settlement charges at the Electric Utilities and Infrastructure segment.

Electric Utilities and Infrastructure delivered second-quarter 2026 segment income of $1,271 million reported and $1,310 million adjusted, up from $1,194 million a year earlier, driven mainly by recovery of infrastructure investments, partially offset by higher depreciation and interest expense. Gas Utilities and Infrastructure segment income was $10 million versus $6 million in 2025, while Other posted a segment loss of $204 million versus a loss of $228 million.

Consolidated operating revenues for the quarter were $7,592 million compared with $7,508 million in 2025. Net income available to common stockholders was $1,077 million versus $971 million. The consolidated reported effective tax rate rose to 12.3% from 10.6%, primarily due to lower amortization of excess deferred taxes. For the first six months of 2026, net cash provided by operating activities was $4,272 million compared with $5,040 million in 2025. Management reaffirmed 2026 adjusted EPS guidance of $6.55–$6.80 and a long-term adjusted EPS growth rate of 5%–7% through 2030 off the 2025 midpoint of $6.30.

Positive

  • Adjusted EPS grew to $1.43 in Q2 2026 from $1.25 a year earlier, and the company reaffirmed 2026 adjusted EPS guidance of $6.55–$6.80 with a long-term adjusted EPS growth rate of 5%–7% through 2030.

Negative

  • None.

Filing Explained

Duke Energy’s August 4 Form 8-K furnished second-quarter results and reported its financial condition as of June 30, 2026.

This Form 8-K furnishes Duke Energy’s second-quarter results and updates its reported financial condition as of June 30, 2026.

Form 8-K Item 2.02 covers results of operations and financial condition, and the filing states that Exhibit 99.1 was furnished rather than treated as filed for Section 18 purposes.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 reported EPS $1.38 Earnings per share available to common stockholders for the quarter ended June 30, 2026
Q2 2026 adjusted EPS $1.43 Adjusted earnings per share for the quarter, versus $1.25 in Q2 2025
Regulatory settlement adjustment $39 million / $0.05 EPS After-tax special item reducing Q2 2026 reported EPS to derive adjusted EPS
Q2 2026 operating revenues $7,592 million Total operating revenues for the quarter, compared with $7,508 million in Q2 2025
Net income to common, Q2 2026 $1,077 million Net income available to Duke Energy Corporation common stockholders for Q2 2026
2026 adjusted EPS guidance $6.55–$6.80 Full-year 2026 adjusted earnings per share guidance range reaffirmed by management
Long-term EPS growth target 5%–7% Long-term adjusted EPS growth rate through 2030 off the 2025 midpoint of $6.30
Total assets $201,091 million Consolidated total assets as of June 30, 2026
adjusted EPS financial
"reported EPS of $1.38, prepared in accordance with GAAP, and adjusted EPS of $1.43"
Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.
regulatory settlements regulatory
"difference between second-quarter 2026 reported and adjusted EPS includes charges related to regulatory settlements"
effective tax rate financial
"consolidated reported effective tax rate for the second quarter of 2026 was 12.3% compared to 10.6%"
The effective tax rate is the percentage of a company's profits that it pays in taxes. It shows how much of its earnings go to taxes after all deductions and credits are considered. For investors, it indicates how much of the company's income is taken by taxes, impacting overall profitability and financial health.
allowance for funds used during construction financial
"Includes an equity component of allowance for funds used during construction of $44 million"
Allowance for funds used during construction (AFUDC) is the accounting practice of adding the cost of borrowing money and using company funds while building long-term assets to the value of that asset instead of treating it as an immediate expense. For investors, AFUDC matters because it boosts reported profits and increases the company’s asset base today while deferring financing costs to future periods, similar to adding construction loan interest to the price of a house under renovation.
noncontrolling interests financial
"Less: Net Income Attributable to NCI 53"
The portion of a subsidiary’s equity and profits that belongs to outside owners rather than the parent company; when a parent reports consolidated results it includes the whole subsidiary but shows the noncontrolling slice separately. Think of a company’s subsidiary as a pie where the parent owns most slices but some are held by other investors — noncontrolling interests tell you how much of the pie and its future earnings don’t belong to the parent, which affects how much profit and net assets are truly attributable to the parent’s shareholders.
margin decoupling mechanism regulatory
"Piedmont has a margin decoupling mechanism in North Carolina, weather normalization mechanisms"
Reported EPS Q2 2026 $1.38 compared with $1.25 in Q2 2025
Adjusted EPS Q2 2026 $1.43 compared with $1.25 in Q2 2025
Operating revenues Q2 2026 $7,592 million compared with $7,508 million in Q2 2025
Net income to common Q2 2026 $1,077 million compared with $971 million in Q2 2025
Guidance

Management reaffirmed 2026 adjusted EPS guidance of $6.55–$6.80 and a long-term adjusted EPS growth rate of 5%–7% through 2030 off the 2025 midpoint of $6.30.

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FAQ

What were Duke Energy (DUKB) reported and adjusted EPS for Q2 2026?
Duke Energy reported Q2 2026 EPS of $1.38 under GAAP and adjusted EPS of $1.43, compared with reported and adjusted EPS of $1.25 in Q2 2025. The adjustment reflects regulatory settlement charges.

How did Duke Energy (DUKB) segment earnings perform in Q2 2026?
Electric Utilities and Infrastructure generated $1,271 million of reported segment income and $1,310 million adjusted, up from $1,194 million in Q2 2025. Gas Utilities and Infrastructure earned $10 million versus $6 million, while Other posted a loss of $204 million versus $228 million.

What guidance did Duke Energy (DUKB) provide for 2026 and beyond?
Management reaffirmed 2026 adjusted EPS guidance of $6.55–$6.80 and a long-term adjusted EPS growth rate of 5%–7% through 2030, based on a 2025 adjusted EPS midpoint of $6.30, and stated confidence in earning in the top half of the range beginning in 2028.

What were Duke Energy (DUKB) Q2 2026 revenues and net income?
Second-quarter 2026 total operating revenues were $7,592 million, compared with $7,508 million a year earlier. Net income available to Duke Energy Corporation common stockholders was $1,077 million, up from $971 million in the second quarter of 2025.

How did Duke Energy (DUKB) cash flow from operations change in the first half of 2026?
For the six months ended June 30, 2026, net cash provided by operating activities was $4,272 million, compared with $5,040 million in the same period of 2025. This reflects the company’s cash generation after adjusting for noncash items and working capital changes.

What drove the difference between Duke Energy (DUKB) reported and adjusted EPS in Q2 2026?
The $0.05 gap between reported EPS of $1.38 and adjusted EPS of $1.43 in Q2 2026 was due to $39 million of charges related to regulatory settlements at Duke Energy Carolinas’ North Carolina rate case, which management classifies as special items.

How did Duke Energy’s (DUKB) effective tax rate change in Q2 2026?
The consolidated reported effective tax rate was 12.3% in Q2 2026 versus 10.6% in Q2 2025. On an adjusted basis, the effective tax rate was 12.6% versus 10.6%, primarily reflecting lower amortization of excess deferred taxes.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2026
Commission File NumberExact Name of Registrant as Specified in its Charter, State or other Jurisdiction of Incorporation,
Address of Principal Executive Offices, Zip Code, and Registrant's Telephone Number, Including Area Code		IRS Employer Identification No.
dukeenergylogo4ca57.jpg
1-32853
DUKE ENERGY CORPORATION
20-2777218
(a Delaware corporation)
525 South Tryon Street
Charlotte, North Carolina 28202
800-488-3853

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
RegistrantTitle of each classTrading Symbol(s)Name of each exchange on which registered
Duke EnergyCommon Stock, $0.001 par valueDUKNew York Stock Exchange LLC
Duke Energy5.625% Junior Subordinated DebenturesDUKBNew York Stock Exchange LLC
due September 15, 2078
Duke EnergyDepositary SharesDUK PR ANew York Stock Exchange LLC
each representing a 1/1,000th interest in a share of 5.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share
Duke Energy3.10% Senior Notes due 2028DUK 28ANew York Stock Exchange LLC
Duke Energy3.85% Senior Notes due 2034DUK 34New York Stock Exchange LLC
Duke Energy3.75% Senior Notes due 2031DUK 31ANew York Stock Exchange LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 2.02  Results of Operations and Financial Conditions.

    On August 4, 2026, Duke Energy Corporation (the "Corporation") will issue and post a news release to its website (duke-energy.com/investors) announcing its financial results for the second quarter ended June 30, 2026. A copy of this news release is attached hereto as Exhibit 99.1. The information in Exhibit 99.1 is being furnished pursuant to this Item 2.02. In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.


Item 9.01  Financial Statements and Exhibits.

(d) Exhibits

    99.1 News Release to be issued by Duke Energy Corporation on August 4, 2026 (furnished pursuant to Item 2.02).

    104 Cover Page Interactive Data File (embedded within the Inline XBRL document).





SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

DUKE ENERGY CORPORATION
/s/ ABIGAIL L. MOTSINGER
Abigail L. Motsinger
Senior Vice President, Chief Accounting Officer and Controller
Dated:August 4, 2026





News Release
          dukeenergylogo4ca54.jpg
    
Media Contact: Gillian Moore
24-Hour: 800.559.3853
Analyst Contact: Mike Switzer
Office: 704.382.6473
August 4, 2026
Duke Energy reports second-quarter 2026 financial results
▪Second-quarter 2026 reported EPS of $1.38 and adjusted EPS of $1.43; strong first half positions company to deliver full-year results within guidance range
▪Constructive regulatory outcomes support critical investments to maintain reliability and deliver customer value
▪Generation build supports growth in jurisdictions, fuels vibrant economies
CHARLOTTE, N.C. – Duke Energy (NYSE: DUK) today announced second-quarter 2026 reported EPS of $1.38, prepared in accordance with Generally Accepted Accounting Principles (GAAP), and adjusted EPS of $1.43. This is compared to reported and adjusted EPS of $1.25 for the second quarter of 2025.
Adjusted EPS excludes the impact of certain items that are included in reported EPS. The difference between second-quarter 2026 reported and adjusted EPS includes charges related to regulatory settlements.
Higher second-quarter 2026 adjusted results were driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions. These items were partially offset by higher depreciation on a growing asset base and interest expense.
The company is reaffirming its 2026 adjusted EPS guidance of $6.55 to $6.80 and long-term adjusted EPS growth rate of 5% to 7% through 2030 off the 2025 midpoint of $6.30, with confidence to earn in the top half of the range beginning in 2028. Management does not forecast reported GAAP EPS and related long-term growth rates.
“We had a strong first half of the year, achieving constructive regulatory outcomes, advancing strategic priorities and maintaining excellence in our operational and financial performance,” said Harry Sideris, Duke Energy president and chief executive officer. “Looking ahead, we are well-positioned to deliver on our commitments in 2026 and seize the growth opportunities in some of the most economically attractive states in the country. As we build the critical infrastructure our customers and communities need, we’re ensuring our investments support economic growth and create long-term value while providing reliable energy at the lowest possible cost.”
1

Duke Energy News Release    2

Business segment results
In addition to the following summary of second-quarter 2026 business segment performance, comprehensive tables with detailed EPS drivers for the second quarter compared to prior year are provided at the end of this news release.
The discussion below of second-quarter results includes both GAAP segment income and adjusted segment income, which is a non-GAAP financial measure. The tables at the end of this news release present a full reconciliation of GAAP reported results to adjusted results.
Electric Utilities and Infrastructure
On a reported basis, Electric Utilities and Infrastructure recognized second-quarter 2026 segment income of $1,271 million, compared to segment income of $1,194 million in the second quarter of 2025. In addition to the drivers outlined below, second-quarter 2026 results include the impact of charges related to regulatory settlements, which were treated as special items and excluded from adjusted earnings.
On an adjusted basis, Electric Utilities and Infrastructure recognized second-quarter 2026 segment income of $1,310 million, compared to segment income of $1,194 million in the second quarter of 2025. This represents an increase of $0.15 per share. Higher quarterly results were primarily driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions, partially offset by higher depreciation on a growing asset base and interest expense.
Gas Utilities and Infrastructure
On a reported and adjusted basis, Gas Utilities and Infrastructure recognized second-quarter 2026 segment income of $10 million, compared to segment income of $6 million in the second quarter of 2025. Flat quarterly results were primarily driven by recovery of infrastructure investments to reliably serve customers in our growing jurisdictions, offset by lower earnings from the sale of Piedmont's Tennessee business.
Other
Other primarily includes interest expense on holding company debt, other unallocated corporate costs and results from Duke Energy’s captive insurance company.
On a reported and adjusted basis, Other recognized a second-quarter 2026 segment loss of $204 million, compared to segment loss of $228 million in the second quarter of 2025. This represents an increase of $0.03 per share. Higher quarterly results were primarily driven by higher returns on investments and lower interest expense.
2

Duke Energy News Release    3

Effective tax rate
Duke Energy's consolidated reported effective tax rate for the second quarter of 2026 was 12.3% compared to 10.6% in the second quarter of 2025. The increase in the reported effective tax rate was primarily due to a decrease in the amortization of excess deferred taxes.
Duke Energy's consolidated adjusted effective tax rate was 12.6% for the second quarter of 2026 compared to 10.6% in the second quarter of 2025. The increase in the adjusted effective tax rate was primarily due to a decrease in the amortization of excess deferred taxes.
The tables at the end of this news release present a reconciliation of the reported effective tax rate to the adjusted effective tax rate.
Earnings conference call for analysts
An earnings conference call for analysts is scheduled at 10 a.m. ET today to discuss second-quarter 2026 financial results and other business and financial updates. The conference call will be hosted by Harry Sideris, president and chief executive officer, and Brian Savoy, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy’s website or by dialing 585.542.9983 in the U.S. or 833.461.5787 outside the U.S. The confirmation code is 485914666. Please call in 10 to 15 minutes prior to the scheduled start time.
Special Items and Non-GAAP Reconciliation
The following table presents a reconciliation of GAAP reported EPS to adjusted EPS for second-quarter 2026 and 2025 financial results:
(In millions, except per share amounts)After-Tax Amount
2Q 2026 EPS
2Q 2025 EPS
EPS, as reported$1.38 $1.25 
Adjustments to reported EPS:
Second quarter 2026
Regulatory Settlements$39 $0.05 
Total adjustments(a)
$0.05 $— 
EPS, adjusted$1.43 $1.25 
(a)    Total EPS adjustments may not foot due to rounding.

3

Duke Energy News Release    4

Non-GAAP financial measures
Management evaluates financial performance in part based on non-GAAP financial measures, including adjusted earnings, adjusted EPS and adjusted effective tax rate. Adjusted earnings and adjusted EPS represent income (loss) from continuing operations available to Duke Energy Corporation common stockholders in dollar and basic per share amounts, adjusted for the dollar and per share impact of special items. The adjusted effective tax rate is calculated using pretax earnings and income tax expense, both adjusted to include the impact of noncontrolling interests and preferred dividends and to exclude the impact of special items. Special items represent certain charges and credits, which management believes are not indicative of Duke Energy's ongoing performance.
Special items included within the financial statement periods presented, which management does not believe are reflective of ongoing costs, are described below:
•Regulatory Settlements represent the impact of charges related to the Duke Energy Carolinas' North Carolina rate case settlements.
Management uses these non-GAAP financial measures for planning, forecasting, and to report financial results to the Board of Directors, employees, and stockholders, as well as analysts and investors. The most directly comparable GAAP measures for adjusted earnings, adjusted EPS and the adjusted effective tax rate are Net Income (Loss) Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss)), Basic earnings (loss) per share Available to Duke Energy Corporation common stockholders (GAAP reported earnings (loss) per share), and the reported effective tax rate, respectively.
Due to the forward-looking nature of forecasted adjusted EPS and related growth rates, the information to reconcile those amounts to the most directly comparable GAAP financial measure is not available, as management is unable to project special items, such as legal settlements, impacts of regulatory orders or asset impairments, for future periods.
Management evaluates segment performance based on segment income and other net loss. Segment income and other net loss are defined as income (loss) from continuing operations net of income attributable to noncontrolling interests and preferred stock dividends. Segment income and other net loss include intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. Management also uses adjusted segment income and adjusted other net loss as measures of historical and anticipated future segment performance. Adjusted segment income and adjusted other net loss are non-GAAP financial measures, as they represent segment income and other net loss adjusted for special items, as discussed above. Management believes the presentation of adjusted segment income and adjusted other net loss provide useful information to investors, as they provide additional relevant comparison of a segment’s or Other's performance across periods. The most directly comparable GAAP measures for adjusted segment income and adjusted other net loss are segment income and other net loss.
4

Duke Energy News Release    5

Due to the forward-looking nature of forecasted adjusted segment income and forecasted adjusted other net loss and related growth rates, the information to reconcile these amounts to the most directly comparable GAAP financial measures are not available, as management is unable to project special items, as discussed above.
Duke Energy’s adjusted earnings, adjusted EPS, adjusted effective tax rate, adjusted segment income, and adjusted other net loss may not be comparable to similarly titled measures of another company because other companies may not calculate the measures in the same manner.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.
Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.
More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions and can often be identified by terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook” or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to:
◦The ability to implement our business strategy, including meeting forecasted load growth demand, grid and fleet modernization objectives, and reducing carbon emissions, while balancing customer reliability and keeping costs as low as possible for our customers;
◦State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements and/or uncertainty of applicability or changes to such legislative and regulatory initiatives, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices;
◦The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate;
◦The ability to timely recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significant weather events, particularly in periods of heightened customer affordability concerns, bill volatility or public and political scrutiny, and to earn an adequate return on investment through rate case proceedings and the regulatory process;
5

Duke Energy News Release    6

◦The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;
◦The impact of extraordinary external events, such as a global pandemic, trade wars or military conflict, and their collateral consequences, including the disruption of global supply chains or the economic activity in our service territories;
◦Costs and effects of legal and administrative proceedings, settlements, investigations and claims;
◦Industrial, commercial and residential decline in service territories or customer bases resulting from sustained downturns of the economy, storm damage, reduced customer usage due to cost pressures from inflation, tariffs, or fuel costs, worsening economic health of our service territories, reductions in customer usage patterns, or lower than anticipated load growth, particularly if usage of electricity by data centers is less than currently projected, energy efficiency efforts, natural gas building and appliance electrification, and use of alternative energy sources, such as self-generation and distributed generation technologies;
◦Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures, natural gas electrification, and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in a reduced number of customers, excess generation resources as well as stranded costs;
◦Advancements in technology, including artificial intelligence;
◦Additional competition in electric and natural gas markets, municipalization and continued industry consolidation;
◦The influence of weather and other natural phenomena on operations, financial position, and cash flows, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change;
◦Changing or conflicting investor, customer and other stakeholder expectations and demands, particularly regarding environmental, social and governance matters and costs related thereto;
◦The ability to successfully operate electric generating facilities and deliver electricity to customers, including direct or indirect effects to the Company resulting from an incident that affects the United States electric grid or generating resources;
◦Operational interruptions to our natural gas distribution and transmission activities;
◦The availability of adequate interstate pipeline transportation capacity and natural gas supply;
◦The impact on facilities and business from a terrorist or other attack, war, vandalism, cybersecurity threats, data security breaches, operational events, information technology failures or other catastrophic events, such as severe storms, fires, explosions, pandemic health events or other similar occurrences;
◦The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers;
◦The timing and extent of changes in commodity prices, including any impact from increased tariffs, export controls and interest rates, and the ability to timely recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets;
◦The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions, an individual utility’s generation portfolio, and general market and economic conditions;
◦Credit ratings of the Duke Energy Registrants may be different from what is expected;
◦Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds;
◦Construction and development risks associated with the completion of the Duke Energy Registrants’ capital investment projects, including risks related to financing, timing and receipt of necessary regulatory approvals, obtaining and complying with terms of permits, meeting construction budgets and schedules, obtaining sufficient skilled labor and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all;
6

Duke Energy News Release    7

◦Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants;
◦The ability to control operation and maintenance costs;
◦The level of creditworthiness of counterparties to transactions;
◦The ability to obtain adequate insurance at acceptable costs and recover on claims made;
◦Employee workforce factors, including the potential inability to attract and retain key personnel;
◦The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);
◦The performance of projects undertaken by our businesses and the success of efforts to invest in and develop new opportunities;
◦The effect of accounting and reporting pronouncements issued periodically by accounting standard-setting bodies and the SEC;
◦The impact of United States tax legislation to our financial condition, results of operations or cash flows and our credit ratings;
◦The impacts from potential impairments of goodwill or investment carrying values;
◦Asset or business acquisitions and dispositions may not be consummated or yield the anticipated benefits, which could adversely affect our financial condition, credit metrics or ability to execute strategic and capital plans;
◦The (i) failure to realize the anticipated benefits, synergies and value creation expected from the utility combination by which Duke Energy Progress will merge into Duke Energy Carolinas (the Combination), including as a result of difficulties or delays in integrating the contributed assets and operations and/or the incurring of significant costs in connection with the Combination; and (ii) the risk that the combined entity may not perform as expected following the consummation of the Combination due to unforeseen liabilities, its level of indebtedness, integration challenges, market conditions, ratings downgrades or other factors beyond the control of the parties; and
◦The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock.
Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
7

DUKE ENERGY CORPORATION
REPORTED TO ADJUSTED EARNINGS RECONCILIATION
Three Months Ended June 30, 2026
(Dollars in millions, except per share amounts)
Special Item
Reported EarningsRegulatory SettlementsTotal AdjustmentsAdjusted Earnings
SEGMENT INCOME (LOSS)
Electric Utilities and Infrastructure$1,271 $39 A$39 $1,310 
Gas Utilities and Infrastructure10 — — 10 
Total Reportable Segment Income1,281 39 39 1,320 
Other(204)— — (204)
Net Income Available to Duke Energy Corporation Common Stockholders
$1,077 $39 $39 $1,116 
EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS
$1.38 $0.05 $0.05 $1.43 
Note: Total EPS adjustments may not cross-foot due to rounding.
A – Duke Energy Carolinas and Duke Energy Progress recorded a total of $51 million pretax within Impairment of assets and other charges on the Condensed Consolidated Statements of Operations as a result of the Duke Energy Carolinas' North Carolina rate case settlements. Segment income for this matter is net of a $12 million tax benefit.
Weighted Average Shares, basic (reported and adjusted) – 779 million
8

DUKE ENERGY CORPORATION
REPORTED TO ADJUSTED EARNINGS RECONCILIATION
Six Months Ended June 30, 2026
(Dollars in millions, except per share amounts)
Special Items
Reported Earnings
Legal and Regulatory Settlements

Asset Sales
Discontinued OperationsTotal AdjustmentsAdjusted Earnings
SEGMENT INCOME (LOSS)
Electric Utilities and Infrastructure$2,525 $189 
A
$— $— $189 $2,714 
Gas Utilities and Infrastructure542 — (171)
B
— (171)371 
Total Reportable Segment Income3,067 189 (171)— 18 3,085 
Other(467)— — — (467)
Discontinued Operations13 — — (13)
C
(13)— 
Net Income Available to Duke Energy Corporation Common Stockholders$2,613 $189 $(171)$(13)$5 $2,618 
EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS$3.35 $0.24 $(0.22)$(0.02)$0.01 $3.36 
Note: Total EPS adjustments may not cross-foot due to rounding.
A – Duke Energy Carolinas and Duke Energy Progress recorded a total of $248 million pretax within Operations, maintenance and other, Impairment of assets and other charges, and Operating Revenues on the Condensed Consolidated Statements of Operations due to certain legal settlements, as well as regulatory settlements related to the Duke Energy Carolinas' North Carolina rate case and establishment of a regulatory liability associated with an energy efficiency program. Segment income amount for these matters is net of a $59 million tax benefit.
B – Net of $196 million tax expense, which includes the impact of nondeductible goodwill related to the sale of Piedmont's Tennessee business.
•$368 million recorded within Gains on Sales of Other Assets and Other, net, and $7 million recorded within Property and other taxes on the Condensed Consolidated Statements of Operations related to the sale of Piedmont's Tennessee business.
•$6 million recorded within Gains on Sales of Other Assets and Other, net on the Condensed Consolidated Statements of Operations related to the sale of certain renewable natural gas investments.
C – Recorded in Income (Loss) from Discontinued Operations, net of tax, on the Condensed Consolidated Statements of Operations.
Weighted Average Shares, basic (reported and adjusted) – 779 million
9

DUKE ENERGY CORPORATION
REPORTED TO ADJUSTED EARNINGS RECONCILIATION
Three Months Ended June 30, 2025
(Dollars in millions, except per share amounts)
​
Reported EarningsDiscontinued OperationsTotal AdjustmentsAdjusted Earnings
SEGMENT INCOME (LOSS)
Electric Utilities and Infrastructure$1,194 $— $— $1,194 
Gas Utilities and Infrastructure6 — — 6 
Total Reportable Segment Income1,200 — — 1,200 
Other(228)— — (228)
Discontinued Operations(1)1 A1 — 
Net Income Available to Duke Energy Corporation Common Stockholders$971 $1 $1 $972 
EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS
$1.25 $— $— $1.25 
Note: Total EPS adjustments may not cross-foot due to rounding.
A – Recorded in Income (Loss) from Discontinued Operations, net of tax, on the Condensed Consolidated Statements of Operations.
Weighted Average Shares, basic (reported and adjusted) – 777 million
10

DUKE ENERGY CORPORATION
REPORTED TO ADJUSTED EARNINGS RECONCILIATION
Six Months Ended June 30, 2025
(Dollars in millions, except per share amounts)

​
Reported EarningsDiscontinued OperationsTotal AdjustmentsAdjusted Earnings
SEGMENT INCOME (LOSS)
Electric Utilities and Infrastructure$2,470 $— $— $2,470 
Gas Utilities and Infrastructure355 — — 355 
Total Reportable Segment Income2,825 — — 2,825 
Other(488)— — (488)
Discontinued Operations(1)1 A1 — 
Net Income Available to Duke Energy Corporation Common Stockholders$2,336 $1 $1 $2,337 
EPS AVAILABLE TO DUKE ENERGY CORPORATION COMMON STOCKHOLDERS$3.00 $— $— $3.00 
Note: Total EPS adjustments may not cross-foot due to rounding.
A – Recorded in Income (Loss) from Discontinued Operations, net of tax, on the Condensed Consolidated Statements of Operations.
Weighted Average Shares, basic (reported and adjusted) – 777 million
11

DUKE ENERGY CORPORATION
EFFECTIVE TAX RECONCILIATION
June 2026
(Dollars in millions)
Three Months Ended 

June 30, 2026		Six Months Ended 

June 30, 2026
BalanceEffective Tax RateBalanceEffective Tax Rate
Reported Income From Continuing Operations Before Income Taxes$1,305 $3,202 
Legal and Regulatory Settlements
51 248 
Asset Sales
— (367)
Noncontrolling Interests(64)(96)
Preferred Dividends
(15)(29)
Adjusted Pretax Income
$1,277 $2,958 
Reported Income Tax Expense From Continuing Operations$160 12.3 %$493 15.4 %
Legal and Regulatory Settlements
12 59 
Asset Sales
— (196)
Noncontrolling Interest Portion of Income Taxes(a)
(11)(16)
Adjusted Tax Expense
$161 12.6 %$340 11.5 %

Three Months Ended 

June 30, 2025		Six Months Ended 

June 30, 2025
BalanceEffective Tax RateBalanceEffective Tax Rate
Reported Income From Continuing Operations Before Income Taxes$1,127 $2,724 
Noncontrolling Interests(27)(55)
Preferred Dividends(13)(27)
Adjusted Pretax Income
$1,087 $2,642 
Reported Income Tax Expense From Continuing Operations$119 10.6 %$312 11.5 %
Noncontrolling Interest Portion of Income Taxes(a)
(4)(7)
Adjusted Tax Expense
$115 10.6 %$305 11.5 %
(a)    Income tax related to non-pass-through entities for tax purposes.
12

DUKE ENERGY CORPORATION
EARNINGS VARIANCES
June 2026 QTD vs. Prior Year
(Dollars per share)Electric Utilities and InfrastructureGas
Utilities and Infrastructure		OtherConsolidated
2025 QTD Reported and Adjusted Earnings Per Share
$1.54 $0.01 $(0.30)$1.25 
Weather(0.02)— — (0.02)
Volume(a)
0.08 — — 0.08 
Riders and Other Retail Margin(b)
0.09 (0.01)— 0.08 
Rate case impacts, net(c)
0.10 — — 0.10 
Wholesale0.04 — — 0.04 
Interest Expense(d)
(0.05)— 0.01 (0.04)
AFUDC Equity0.02 — — 0.02 
Depreciation and amortization(d)
(0.09)— — (0.09)
Other(0.02)0.01 0.02 0.01 
Total variance$0.15 $— $0.03 $0.18 
2026 QTD Adjusted Earnings Per Share
$1.69 $0.01 $(0.27)$1.43 
Regulatory Settlements(0.05)— — (0.05)
2026 QTD Reported Earnings Per Share
$1.64 $0.01 $(0.27)$1.38 
Note: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all drivers. Basic weighted average shares outstanding increased from 777 million to 779 million. Totals may not foot or cross-foot due to rounding.
(a)    Includes block and seasonal pricing.
(b)    Electric Utilities and Infrastructure includes higher grid modernization riders and North Carolina Power Bill Reduction Act (SB266) impacts.
(c)    Electric Utilities and Infrastructure includes impacts from DEI Step 2 rates, effective March 2026 (+$0.03), DEC North Carolina Year 3 rates, effective January 2026, and DEC South Carolina rates, effective March 2026 (+$0.02), DEF Year 2 rates, effective January 2026 (+$0.02), DEP North Carolina Year 3 rates, effective October 2025, and DEP South Carolina rates, effective February 2026 (+$0.02) and DEK rates, effective July 2025 (+$0.01).
(d)    Electric Utilities and Infrastructure excludes rate case impacts.

13

DUKE ENERGY CORPORATION
EARNINGS VARIANCES
June 2026 YTD vs. Prior Year
(Dollars per share)Electric Utilities and InfrastructureGas
Utilities and Infrastructure		OtherDiscontinued OperationsConsolidated
2025 YTD Reported and Adjusted Earnings Per Share
$3.18 $0.45 $(0.63)$— $3.00 
Weather0.02 — — — 0.02 
Volume(a)
0.11 — — — 0.11 
Riders and Other Retail Margin(b)
0.20 0.02 — — 0.22 
Rate case impacts, net(c)
0.23 0.01 — — 0.24 
Wholesale
0.05 — — — 0.05 
Operations and maintenance, net of recoverables(d)
(0.08)(0.01)— — (0.09)
Interest Expense(e)
(0.07)— (0.02)— (0.09)
AFUDC Equity0.04 — — — 0.04 
Depreciation and amortization(e)
(0.16)(0.01)— — (0.17)
Other(f)
(0.03)0.01 0.05 — 0.03 
Total variance$0.31 $0.02 $0.03 $— $0.36 
2026 YTD Adjusted Earnings Per Share
$3.49 $0.47 $(0.60)$— $3.36 
Legal and Regulatory Settlements
(0.24)— — — (0.24)
Asset Sales
— 0.22 — — 0.22 
Discontinued Operations— — — 0.02 0.02 
2026 YTD Reported Earnings Per Share
$3.25 $0.69 $(0.60)$0.02 $3.35 
Note: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all drivers. Basic weighted average shares outstanding increased from 777 million to 779 million. Totals may not foot or cross-foot due to rounding.
(a)    Includes block and seasonal pricing.
(b)    Electric Utilities and Infrastructure includes higher grid modernization riders, SB266 impacts and higher transmission revenues. Gas Utilities and Infrastructure includes higher capital riders and customer growth in North Carolina and South Carolina.
(c)    Electric Utilities and Infrastructure includes impacts from DEI Step 2 rates, effective March 2026 (+$0.06), DEC North Carolina Year 3 rates, effective January 2026, and DEC South Carolina rates, effective March 2026 (+$0.05), DEF Year 2 rates, effective January 2026 (+$0.05), DEP North Carolina Year 3 rates, effective October 2025, and DEP South Carolina rates, effective February 2026 (+$0.05) and DEK rates, effective July 2025 (+$0.02). Gas Utilities and Infrastructure includes impacts from DEK rates, effective January 2026.
(d)    Electric Utilities and Infrastructure includes higher storm costs (-$0.03) and increased bad debt expense (-$0.02) in the current year.
(e)    Electric Utilities and Infrastructure excludes rate case impacts.
(f)    Other includes lower contributions to the Duke Energy Foundation and higher market returns in the current year.
14

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In millions, except per share amounts)
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Operating Revenues
Regulated electric$7,103 $6,968 $14,906 $14,032 
Regulated natural gas418 462 1,715 1,567 
Nonregulated electric and other71 78 149 158 
Total operating revenues7,592 7,508 16,770 15,757 
Operating Expenses
Fuel used in electric generation and purchased power1,915 1,878 4,334 3,977 
Cost of natural gas130 158 655 532 
Operation, maintenance and other1,385 1,655 3,137 3,154 
Depreciation and amortization1,700 1,583 3,389 3,095 
Property and other taxes374 415 826 843 
Impairment of assets and other charges49 3 49 3 
Total operating expenses5,553 5,692 12,390 11,604 
Gains (Losses) on Sales of Other Assets and Other, net10 14 394 20 
Operating Income2,049 1,830 4,774 4,173 
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates10 11 17 22 
Other income and expenses, net203 183 336 315 
Total other income and expenses213 194 353 337 
Interest Expense957 897 1,925 1,786 
Income From Continuing Operations Before Income Taxes1,305 1,127 3,202 2,724 
Income Tax Expense From Continuing Operations160 119 493 312 
Income From Continuing Operations1,145 1,008 2,709 2,412 
Income (Loss) From Discontinued Operations, net of tax— (1)13 (1)
Net Income
1,145 1,007 2,722 2,411 
Less: Net Income Attributable to NCI53 23 80 48 
Net Income Attributable to Duke Energy Corporation
1,092 984 2,642 2,363 
Less: Preferred Dividends15 13 29 27 
Net Income Available to Duke Energy Corporation Common Stockholders
$1,077 $971 $2,613 $2,336 
Earnings Per Share – Basic and Diluted
Income from continuing operations available to Duke Energy Corporation common stockholders
Basic and Diluted$1.38 $1.25 $3.33 $3.00 
Income (loss) from discontinued operations attributable to Duke Energy Corporation common stockholders
Basic and Diluted$— $— $0.02 $— 
Net income available to Duke Energy Corporation common stockholders
Basic and Diluted$1.38 $1.25 $3.35 $3.00 
Weighted average shares outstanding
Basic and Diluted779 777 779 777 

15

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In millions)June 30, 2026December 31, 2025
ASSETS
Current Assets
Cash and cash equivalents$673 $245 
Receivables (net of allowance for doubtful accounts of $214 at 2026 and $194 at 2025)4,482 4,230 
Inventory (includes $1,013 at 2026 and $669 at 2025 related to VIEs)4,665 4,569 
Regulatory assets (includes $205 at 2026 and $204 at 2025 related to VIEs)2,645 1,934 
Assets held for sale— 109 
Other (includes $145 at 2026 and $88 at 2025 related to VIEs)684 526 
Total current assets13,149 11,613 
Property, Plant and Equipment
Cost (includes $3,610 at 2026 and $2,913 at 2025 related to VIEs)197,562 190,409 
Accumulated depreciation and amortization (includes ($138) at 2026 and ($89) at 2025 related to VIEs)(62,326)(60,450)
Net property, plant and equipment135,236 129,959 
Other Noncurrent Assets
Goodwill19,010 19,010 
Regulatory assets (includes $3,027 at 2026 and $3,108 at 2025 related to VIEs)14,411 14,379 
Nuclear decommissioning trust funds13,590 12,889 
Operating lease right-of-use assets, net1,166 1,241 
Investments in equity method unconsolidated affiliates332 330 
Assets held for sale— $2,148 
Other4,197 4,167 
Total other noncurrent assets52,706 54,164 
Total Assets$201,091 $195,736 
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (includes $452 at 2026 and $296 at 2025 related to VIEs)$4,940 $5,223 
Notes payable and commercial paper2,330 2,624 
Taxes accrued1,035 975 
Interest accrued899 922 
Current maturities of long-term debt (includes $147 at 2026 and $118 at 2025 related to VIEs)6,666 7,104 
Asset retirement obligations570 579 
Regulatory liabilities1,422 1,271 
Liabilities associated with assets held for sale— 84 
Other 2,026 2,265 
Total current liabilities19,888 21,047 
Long-Term Debt (includes $3,221 at 2026 and $3,308 at 2025 related to VIEs)82,242 80,108 
Other Noncurrent Liabilities
Deferred income taxes13,344 12,377 
Asset retirement obligations9,202 9,046 
Regulatory liabilities15,359 15,682 
Operating lease liabilities968 1,033 
Accrued pension and other post-retirement benefit costs348 396 
Investment tax credits976 969 
Liabilities associated with assets held for sale— $170 
Other1,901 1,889 
Total other noncurrent liabilities42,098 41,562 
Commitments and Contingencies
Equity
Preferred stock, Series A, $0.001 par value, 40 million depositary shares authorized and outstanding at 2026 and 2025
973 973 
Common stock, $0.001 par value, 2 billion shares authorized; 780 million and 778 million shares outstanding at 2026 and 20251 1 
Additional paid-in capital47,563 45,614 
Retained earnings6,005 5,056 
Accumulated other comprehensive income (loss)209 198 
Total Duke Energy Corporation stockholders' equity54,751 51,842 
Noncontrolling Interests2,112 1,177 
Total equity56,863 53,019 
Total Liabilities and Equity$201,091 $195,736 
16

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
Six Months Ended June 30,
20262025
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income$2,722 $2,411 
Adjustments to reconcile net income to net cash provided by operating activities
1,550 2,629 
Net cash provided by operating activities4,272 5,040 
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash used in investing activities(6,209)(6,264)
CASH FLOWS FROM FINANCING ACTIVITIES
Net cash provided by financing activities2,424 1,245 
Net increase (decrease) in cash, cash equivalents and restricted cash487 21 
Cash, cash equivalents and restricted cash at beginning of period363 421 
Cash, cash equivalents and restricted cash at end of period$850 $442 

17

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended June 30, 2026
(In millions)Electric
Utilities and Infrastructure		Gas
Utilities and Infrastructure		OtherEliminations/AdjustmentsDuke Energy
Operating Revenues
Regulated electric$7,118 $— $— $(15)$7,103 
Regulated natural gas— 438 — (20)418 
Nonregulated electric and other57 11 40 (37)71 
Total operating revenues7,175 449 40 (72)7,592 
Operating Expenses
Fuel used in electric generation and purchased power1,933 — — (18)1,915 
Cost of natural gas— 130 — — 130 
Operation, maintenance and other1,339 127 (29)(52)1,385 
Depreciation and amortization1,514 110 83 (7)1,700 
Property and other taxes343 28 3 — 374 
Impairment of assets and other charges49 — — — 49 
Total operating expenses5,178 395 57 (77)5,553 
Gains (Losses) on Sales of Other Assets and Other, net2 — 7 1 10 
Operating Income (Loss)1,999 54 (10)6 2,049 
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates— 4 6 — 10 
Other income and expenses, net156 16 56 (25)203 
Total Other Income and Expenses156 20 62 (25)213 
Interest Expense602 61 313 (19)957 
Income (Loss) from Continuing Operations before Income Taxes1,553 13 (261)— 1,305 
Income Tax Expense (Benefit) from Continuing Operations229 3 (72)— 160 
Income (Loss) from Continuing Operations1,324 10 (189)— 1,145 
Less: Net Income Attributable to Noncontrolling Interest53 — — — 53 
Net Income (Loss) Attributable to Duke Energy Corporation1,271 10 (189)— 1,092 
Less: Preferred Dividends— — 15 — 15 
Segment Income/Other Net Loss
$1,271 $10 $(204)$— $1,077 
Discontinued Operations— 
Net Income Available to Duke Energy Corporation Common Stockholders
$1,077 
Segment Income/Other Net Loss$1,271 $10 $(204)$— $1,077 
Special Items39 — — — 39 
Adjusted Earnings(a)
$1,310 $10 $(204)$— $1,116 
(a)    See Reported to Adjusted Earnings Reconciliation for a detailed reconciliation of Segment Income/Other Net Loss to Adjusted Earnings.
18

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Unaudited)
Six Months Ended June 30, 2026
(In millions)Electric
Utilities and Infrastructure		Gas
Utilities and Infrastructure		OtherEliminations/AdjustmentsDuke Energy
Operating Revenues
Regulated electric$14,935 $— $— $(29)$14,906 
Regulated natural gas— 1,759 — (44)1,715 
Nonregulated electric and other118 23 82 (74)149 
Total operating revenues15,053 1,782 82 (147)16,770 
Operating Expenses
Fuel used in electric generation and purchased power4,373 — — (39)4,334 
Cost of natural gas— 655 — — 655 
Operation, maintenance and other3,048 262 (70)(103)3,137 
Depreciation and amortization3,012 225 166 (14)3,389 
Property and other taxes736 85 5 — 826 
Impairment of assets and other charges49 — — — 49 
Total operating expenses11,218 1,227 101 (156)12,390 
Gains (Losses) on Sales of Other Assets and Other, net7 374 12 1 394 
Operating Income (Loss)3,842 929 (7)10 4,774 
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates— 10 7 — 17 
Other income and expenses, net292 28 64 (48)336 
Total Other Income and Expenses292 38 71 (48)353 
Interest Expense1,173 128 662 (38)1,925 
Income (Loss) from Continuing Operations before Income Taxes2,961 839 (598)— 3,202 
Income Tax Expense (Benefit) from Continuing Operations356 297 (160)— 493 
Income (Loss) from Continuing Operations2,605 542 (438)— 2,709 
Less: Net Income Attributable to Noncontrolling Interest80 — — — 80 
Net Income (Loss) Attributable to Duke Energy Corporation2,525 542 (438)— 2,629 
Less: Preferred Dividends— — 29 — 29 
Segment Income/Other Net Loss$2,525 $542 $(467)$— $2,600 
Discontinued Operations13 
Net Income Available to Duke Energy Corporation Common Stockholders$2,613 
Segment Income/Other Net Loss
$2,525 $542 $(467)$— $2,600 
Special Items189 (171)— — 18 
Adjusted Earnings(a)
$2,714 $371 $(467)$— $2,618 
(a)    See Reported to Adjusted Earnings Reconciliation for a detailed reconciliation of Segment Income/Other Net Loss to Adjusted Earnings.
19

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Unaudited)
Three Months Ended June 30, 2025
(In millions)Electric
Utilities and Infrastructure		Gas
Utilities and Infrastructure		OtherEliminations/AdjustmentsDuke Energy
Operating Revenues
Regulated electric$6,982 $— $— $(14)$6,968 
Regulated natural gas— 483 — (21)462 
Nonregulated electric and other63 10 40 (35)78 
Total operating revenues7,045 493 40 (70)7,508 
Operating Expenses
Fuel used in electric generation and purchased power1,898 — — (20)1,878 
Cost of natural gas— 158 — — 158 
Operation, maintenance and other1,594 129 (23)(45)1,655 
Depreciation and amortization1,402 112 77 (8)1,583 
Property and other taxes371 41 3 — 415 
Impairment of assets and other charges(1)— 5 (1)3 
Total operating expenses5,264 440 62 (74)5,692 
Gains (Losses) on Sales of Other Assets and Other, net8 — 6 — 14 
Operating Income (Loss)1,789 53 (16)4 1,830 
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates— 1 9 1 11 
Other income and expenses, net163 13 33 (26)183 
Total Other Income and Expenses163 14 42 (25)194 
Interest Expense535 65 318 (21)897 
Income (Loss) from Continuing Operations before Income Taxes1,417 2 (292)— 1,127 
Income Tax Expense (Benefit) from Continuing Operations200 (4)(77)— 119 
Income (Loss) from Continuing Operations1,217 6 (215)— 1,008 
Less: Net Income Attributable to Noncontrolling Interest
23 — — — 23 
Net Income (Loss) Attributable to Duke Energy Corporation1,194 6 (215)— 985 
Less: Preferred Dividends— — 13 — 13 
Segment Income/Other Net Loss
$1,194 $6 $(228)$— $972 
Discontinued Operations(1)
Net Income Available to Duke Energy Corporation Common Stockholders
$971 
20

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS
(Unaudited)
Six Months Ended June 30, 2025
(In millions)Electric
Utilities and Infrastructure		Gas
Utilities and Infrastructure		OtherEliminations/AdjustmentsDuke Energy
Operating Revenues
Regulated electric$14,061 $— $— $(29)$14,032 
Regulated natural gas— 1,612 — (45)1,567 
Nonregulated electric and other124 21 82 (69)158 
Total operating revenues14,185 1,633 82 (143)15,757 
Operating Expenses
Fuel used in electric generation and purchased power4,017 — — (40)3,977 
Cost of natural gas— 532 — — 532 
Operation, maintenance and other3,018 254 (21)(97)3,154 
Depreciation and amortization2,736 219 154 (14)3,095 
Property and other taxes749 88 6 — 843 
Impairment of assets and other charges(1)— 5 (1)3 
Total operating expenses10,519 1,093 144 (152)11,604 
Gains (Losses) on Sales of Other Assets and Other, net9 — 11 — 20 
Operating Income (Loss)
3,675 540 (51)9 4,173 
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates— 6 15 1 22 
Other income and expenses, net297 26 47 (55)315 
Total Other Income and Expenses297 32 62 (54)337 
Interest Expense1,065 130 636 (45)1,786 
Income (Loss) From Continuing Operations Before Income Taxes2,907 442 (625)— 2,724 
Income Tax Expense (Benefit) from Continuing Operations389 87 (164)— 312 
Income (Loss) from Continuing Operations2,518 355 (461)— 2,412 
Less: Net Income Attributable to Noncontrolling Interest48 — — — 48 
Net Income (Loss) Attributable to Duke Energy Corporation2,470 355 (461)— 2,364 
Less: Preferred Dividends— — 27 — 27 
Segment Income/Other Net Loss$2,470 $355 $(488)$— $2,337 
Discontinued Operations(1)
Net Income Available to Duke Energy Corporation Common Stockholders$2,336 
21

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS
(Unaudited)

June 30, 2026
(In millions)Electric Utilities and InfrastructureGas
Utilities and Infrastructure
Other
Eliminations/
Adjustments		Duke Energy
Current Assets
Cash and cash equivalents$331 $8 $333 $1 $673 
Receivables, net4,260 208 14 — 4,482 
Receivables from affiliated companies207 103 1,117 (1,427)— 
Notes receivable from affiliated companies486 26 214 (726)— 
Inventory4,551 78 36 — 4,665 
Regulatory assets2,398 162 85 — 2,645 
Other435 32 288 (71)684 
Total current assets12,668 617 2,087 (2,223)13,149 
Property, Plant and Equipment
Cost178,175 17,024 2,433 (70)197,562 
Accumulated depreciation and amortization(57,834)(3,536)(956)— (62,326)
Net property, plant and equipment120,341 13,488 1,477 (70)135,236 
Other Noncurrent Assets
Goodwill17,380 1,630 — — 19,010 
Regulatory assets13,275 675 461 — 14,411 
Nuclear decommissioning trust funds13,590 — — — 13,590 
Operating lease right-of-use assets, net670 2 494 — 1,166 
Investments in equity method unconsolidated affiliates1 180 151 — 332 
Investment in consolidated subsidiaries582 6 81,435 (82,023)— 
Other2,577 333 1,912 (625)4,197 
Total other noncurrent assets48,075 2,826 84,453 (82,648)52,706 
Total Assets181,084 16,931 88,017 (84,941)201,091 
Segment reclassifications, intercompany balances and other(1,413)(138)(83,390)84,941 — 
Segment Assets$179,671 $16,793 $4,627 $— $201,091 

22

DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY
(Unaudited)

June 30, 2026
(In millions)Electric Utilities and InfrastructureGas
Utilities and Infrastructure
Other
Eliminations/
Adjustments		Duke Energy
Current Liabilities
Accounts payable$3,665 $293 $982 $— $4,940 
Accounts payable to affiliated companies653 60 555 (1,268)— 
Notes payable to affiliated companies187 301 238 (726)— 
Notes payable and commercial paper— — 2,330 — 2,330 
Taxes accrued1,022 121 (108)— 1,035 
Interest accrued574 49 276 — 899 
Current maturities of long-term debt4,104 57 2,514 (9)6,666 
Asset retirement obligations570 — — — 570 
Regulatory liabilities1,343 80 — (1)1,422 
Other1,554 70 636 (234)2,026 
Total current liabilities13,672 1,031 7,423 (2,238)19,888 
Long-Term Debt52,744 4,715 24,845 (62)82,242 
Long-Term Debt Payable to Affiliated Companies618 7 — (625)— 
Other Noncurrent Liabilities
Deferred income taxes13,203 1,405 (1,273)9 13,344 
Asset retirement obligations9,108 94 — — 9,202 
Regulatory liabilities14,312 1,019 28 — 15,359 
Operating lease liabilities608 1 359 — 968 
Accrued pension and other post-retirement benefit costs(58)29 377 — 348 
Investment tax credits975 1 — — 976 
Other1,406 117 568 (190)1,901 
Total other noncurrent liabilities39,554 2,666 59 (181)42,098 
Equity
Total Duke Energy Corporation stockholders' equity72,386 8,509 55,690 (81,834)54,751 
Noncontrolling interests2,110 3 — (1)2,112 
Total equity74,496 8,512 55,690 (81,835)56,863 
Total Liabilities and Equity181,084 16,931 88,017 (84,941)201,091 
Segment reclassifications, intercompany balances and other(1,413)(138)(83,390)84,941 — 
Segment Liabilities and Equity$179,671 $16,793 $4,627 $— $201,091 

23

ELECTRIC UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING SEGMENT INCOME
(Unaudited)

Three Months Ended June 30, 2026
(In millions)Duke
Energy
Carolinas		Duke
Energy
Progress		Duke
Energy
Florida
Duke
Energy
Ohio(a)
Duke
Energy
Indiana		Eliminations/
Other		Electric Utilities and Infrastructure
Operating Revenues$2,416 $1,800 $1,666 $508 $861 $(76)$7,175 
Operating Expenses
Fuel used in electric generation and purchased power632 547 447 145 250 (88)1,933 
Operation, maintenance and other451 356 231 96 187 18 1,339 
Depreciation and amortization531 396 306 74 202 5 1,514 
Property and other taxes91 22 127 83 19 1 343 
Impairment of assets and other charges27 22 — — — — 49 
Total operating expenses1,732 1,343 1,111 398 658 (64)5,178 
Gains (Losses) on Sales of Other Assets and Other, net— — 1 — — 1 2 
Operating Income684 457 556 110 203 (11)1,999 
Other Income and Expenses, net(b)
72 54 18 4 13 (5)156 
Interest Expense233 144 127 33 75 (10)602 
Income Before Income Taxes523 367 447 81 141 (6)1,553 
Income Tax Expense36 54 91 15 20 13 229 
Less: Net Income Attributable to Noncontrolling Interest(c)
— — — — — 53 53 
Segment Income$487 $313 $356 $66 $121 $(72)$1,271 
(a)    Includes results of the wholly owned subsidiary, Duke Energy Kentucky.
(b)    Includes an equity component of allowance for funds used during construction of $44 million for Duke Energy Carolinas, $30 million for Duke Energy Progress, $3 million for Duke Energy Florida, $4 million for Duke Energy Ohio and $7 million for Duke Energy Indiana.
(c)    Includes a noncontrolling interest in Duke Energy Indiana and Florida Progress.
24

ELECTRIC UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING SEGMENT INCOME
(Unaudited)

Six Months Ended June 30, 2026
(In millions)Duke
Energy
Carolinas		Duke
Energy
Progress		Duke
Energy
Florida
Duke
Energy
Ohio(a)
Duke
Energy
Indiana		Eliminations/
Other		Electric Utilities and Infrastructure
Operating Revenues$5,182 $4,101 $3,287 $1,070 $1,827 $(414)$15,053 
Operating Expenses
Fuel used in electric generation and purchased power1,563 1,410 895 318 620 (433)4,373 
Operation, maintenance and other1,052 857 550 193 374 22 3,048 
Depreciation and amortization1,057 782 602 156 407 8 3,012 
Property and other taxes197 81 250 170 38 — 736 
Impairment of assets and other charges27 22 — — — — 49 
Total operating expenses3,896 3,152 2,297 837 1,439 (403)11,218 
Gains (Losses) on Sales of Other Assets and Other, net2 1 3 — — 1 7 
Operating Income1,288 950 993 233 388 (10)3,842 
Other Income and Expenses, net(b)
135 97 33 8 24 (5)292 
Interest Expense450 279 254 67 139 (16)1,173 
Income Before Income Taxes973 768 772 174 273 1 2,961 
Income Tax Expense50 96 156 31 39 (16)356 
Less: Net Income Attributable to Noncontrolling Interest(c)
— — — — — 80 80 
Segment Income
$923 $672 $616 $143 $234 $(63)$2,525 
(a)    Includes results of the wholly owned subsidiary, Duke Energy Kentucky.
(b)    Includes an equity component of allowance for funds used during construction of $85 million for Duke Energy Carolinas, $58 million for Duke Energy Progress, $6 million for Duke Energy Florida, $7 million for Duke Energy Ohio and $16 million for Duke Energy Indiana.
(c)    Includes a noncontrolling interest in Duke Energy Indiana and Florida Progress.
25

ELECTRIC UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS
(Unaudited)

June 30, 2026
(In millions)Duke
Energy
Carolinas		Duke
Energy
Progress		Duke
Energy
Florida
Duke
Energy
Ohio(a)
Duke
Energy
Indiana
Eliminations/
Adjustments(b)
Electric Utilities and Infrastructure
Current Assets
Cash and cash equivalents$38 $244 $22 $11 $16 $— $331 
Receivables, net1,616 1,106 723 362 445 8 4,260 
Receivables from affiliated companies246 106 136 32 30 (343)207 
Notes receivable from affiliated companies1,122 — — 56 184 (876)486 
Inventory1,528 1,374 873 186 590 — 4,551 
Regulatory assets1,141 847 170 26 215 (1)2,398 
Other115 134 70 8 117 (9)435 
Total current assets5,806 3,811 1,994 681 1,597 (1,221)12,668 
Property, Plant and Equipment
Cost64,964 46,816 34,555 9,727 22,039 74 178,175 
Accumulated depreciation and amortization(21,125)(17,446)(8,936)(2,643)(7,739)55 (57,834)
Net property, plant and equipment43,839 29,370 25,619 7,084 14,300 129 120,341 
Other Noncurrent Assets
Goodwill— — — 596 — 16,784 17,380 
Regulatory assets4,765 4,246 2,132 379 975 778 13,275 
Nuclear decommissioning trust funds7,765 5,541 283 — — 1 13,590 
Operating lease right-of-use assets, net87 357 192 5 30 (1)670 
Investments in equity method unconsolidated affiliates— — 1 — — — 1 
Investment in consolidated subsidiaries56 11 4 510 1 — 582 
Other1,382 776 546 71 245 (443)2,577 
Total other noncurrent assets14,055 10,931 3,158 1,561 1,251 17,119 48,075 
Total Assets63,700 44,112 30,771 9,326 17,148 16,027 181,084 
Segment reclassifications, intercompany balances and other(1,448)(203)(160)(600)(222)1,220 (1,413)
Reportable Segment Assets$62,252 $43,909 $30,611 $8,726 $16,926 $17,247 $179,671 
(a)    Includes balances of the wholly owned subsidiary Duke Energy Kentucky.
(b)    Includes the elimination of intercompany balances, purchase accounting adjustments, and Duke Energy Indiana Holdco, LLC balances.

26

ELECTRIC UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY
(Unaudited)

June 30, 2026
(In millions)Duke
Energy
Carolinas		Duke
Energy
Progress		Duke
Energy
Florida
Duke
Energy
Ohio(a)
Duke
Energy
Indiana
Eliminations/
Adjustments(b)
Electric Utilities and Infrastructure
Current Liabilities
Accounts payable$1,382 $909 $683 $231 $458 $2 $3,665 
Accounts payable to affiliated companies292 316 239 15 75 (284)653 
Notes payable to affiliated companies— 823 196 44 — (876)187 
Taxes accrued247 105 253 332 99 (14)1,022 
Interest accrued227 146 87 42 71 1 574 
Current maturities of long-term debt1,650 1,094 1,357 (17)27 (7)4,104 
Asset retirement obligations239 179 1 6 144 1 570 
Regulatory liabilities611 374 64 69 226 (1)1,343 
Other615 372 346 77 125 19 1,554 
Total current liabilities5,263 4,318 3,226 799 1,225 (1,159)13,672 
Long-Term Debt20,235 12,909 10,195 3,492 5,523 390 52,744 
Long-Term Debt Payable to Affiliated Companies300 150 — 18 150 — 618 
Other Noncurrent Liabilities
Deferred income taxes4,602 2,923 3,181 899 1,546 52 13,203 
Asset retirement obligations3,585 4,121 170 62 973 197 9,108 
Regulatory liabilities7,914 4,293 772 218 1,141 (26)14,312 
Operating lease liabilities75 360 144 4 25 — 608 
Accrued pension and other post-retirement benefit costs10 131 82 64 78 (423)(58)
Investment tax credits347 195 248 5 180 — 975 
Other727 440 160 59 28 (8)1,406 
Total other noncurrent liabilities17,260 12,463 4,757 1,311 3,971 (208)39,554 
Equity
Total Duke Energy Corporation stockholders equity20,642 14,272 12,593 3,706 6,279 14,894 72,386 
Noncontrolling interests(c)
— — — — — 2,110 2,110 
Total equity20,642 14,272 12,593 3,706 6,279 17,004 74,496 
Total Liabilities and Equity63,700 44,112 30,771 9,326 17,148 16,027 181,084 
Segment reclassifications, intercompany balances and other(1,448)(203)(160)(600)(222)1,220 (1,413)
Reportable Segment Liabilities and Equity$62,252 $43,909 $30,611 $8,726 $16,926 $17,247 $179,671 
(a)    Includes balances of the wholly owned subsidiary Duke Energy Kentucky.
(b)    Includes the elimination of intercompany balances, purchase accounting adjustments and Duke Energy Indiana Holdco, LLC balances.
(c)    Includes a noncontrolling interest in Duke Energy Indiana and Florida Progress.

27

GAS UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING SEGMENT INCOME
(Unaudited)

Three Months Ended June 30, 2026
(In millions)
Duke
Energy
Ohio(a)
Piedmont Natural Gas LDC
Midstream Pipelines and Storage(b)
Eliminations/
Adjustments		Gas
Utilities and Infrastructure
Operating Revenues$157 $288 $4 $— $449 
Operating Expenses
Cost of natural gas33 97 — — 130 
Operation, maintenance and other36 87 3 1 127 
Depreciation and amortization40 69 1 — 110 
Property and other taxes25 4 — (1)28 
Total operating expenses134 257 4 — 395 
Operating Income (Loss)
23 31 — — 54 
Other Income and Expenses
Equity in earnings (losses) of unconsolidated affiliates— — 4 — 4 
Other income and expenses, net2 15 — (1)16 
Total other income and expenses2 15 4 (1)20 
Interest Expense19 41 1 — 61 
Income (Loss) Before Income Taxes
6 5 3 (1)13 
Income Tax Expense (Benefit)
2 1 1 (1)3 
Segment Income (Loss)
$4 $4 $2 $— $10 
(a)    Includes results of the wholly owned subsidiary Duke Energy Kentucky.
(b)    Primarily earnings from investments in Sabal Trail and Cardinal pipelines, as well as Hardy and Pine Needle storage facilities.
28

GAS UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING SEGMENT INCOME
(Unaudited)

Six Months Ended June 30, 2026
(In millions)
Duke
Energy
Ohio(a)
Piedmont Natural Gas LDC
Midstream Pipelines and Storage(b)
Eliminations/
Adjustments		Gas
Utilities and Infrastructure
Operating Revenues$474 $1,299 $9 $— $1,782 
Operating Expenses
Cost of natural gas154 501 — — 655 
Operation, maintenance and other76 180 6 — 262 
Depreciation and amortization79 143 3 — 225 
Property and other taxes55 30 — — 85 
Total operating expenses364 854 9 — 1,227 
Gains (Losses) on Sales of Other Assets and Other, net(c)
— 652 6 (284)374 
Operating Income (Loss)110 1,097 6 (284)929 
Other Income and Expenses, net
Equity in earnings (losses) of unconsolidated affiliates— — 10 — 10 
Other income and expenses, net3 25 — — 28 
Other Income and Expenses, net3 25 10 — 38 
Interest Expense37 89 2 — 128 
Income (Loss) Before Income Taxes76 1,033 14 (284)839 
Income Tax Expense (Benefit)17 259 21 — 297 
Segment Income (Loss)$59 $774 $(7)$(284)$542 
(a)    Includes results of the wholly owned subsidiary Duke Energy Kentucky.
(b)    Includes earnings from investments in Sabal Trail and Cardinal pipelines, as well as Hardy and Pine Needle storage facilities.
(c)    The gain on sale is $284 million lower at the Gas Utilities and Infrastructure segment level due to higher allocated goodwill related to the Piedmont Tennessee Disposal Group than at Piedmont Natural Gas LDC.
29

GAS UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING BALANCE SHEETS – ASSETS
(Unaudited)

June 30, 2026
(In millions)
Duke
Energy
Ohio(a)
Piedmont Natural Gas LDCMidstream Pipelines and Storage
Eliminations/
Adjustments(b)
Gas
Utilities and Infrastructure
Current Assets
Cash and cash equivalents$5 $— $4 $(1)$8 
Receivables, net59 149 — — 208 
Receivables from affiliated companies— 104 73 (74)103 
Notes receivable from affiliated companies32 — — (6)26 
Inventory44 35 — (1)78 
Regulatory assets78 84 — — 162 
Other— 25 4 3 32 
Total current assets218 397 81 (79)617 
Property, Plant and Equipment
Cost5,255 11,693 76 — 17,024 
Accumulated depreciation and amortization(1,303)(2,216)(17)— (3,536)
Net property, plant and equipment3,952 9,477 59 — 13,488 
Other Noncurrent Assets
Goodwill324 39 — 1,267 1,630 
Regulatory assets327 296 — 52 675 
Operating lease right-of-use assets, net— 1 — 1 2 
Investments in equity method unconsolidated affiliates— — 175 5 180 
Investment in consolidated subsidiaries— — — 6 6 
Other30 288 16 (1)333 
Total other noncurrent assets681 624 191 1,330 2,826 
Total Assets4,851 10,498 331 1,251 16,931 
Segment reclassifications, intercompany balances and other(32)(106)(103)103 (138)
Reportable Segment Assets$4,819 $10,392 $228 $1,354 $16,793 
(a)    Includes balances of the wholly owned subsidiary Duke Energy Kentucky.
(b)    Includes the elimination of intercompany balances and purchase accounting adjustments.
30

GAS UTILITIES AND INFRASTRUCTURE
CONDENSED CONSOLIDATING BALANCE SHEETS – LIABILITIES AND EQUITY
(Unaudited)

June 30, 2026
(In millions)
Duke
Energy
Ohio(a)
Piedmont Natural Gas LDCMidstream Pipelines and Storage
Eliminations/
Adjustments(b)
Gas
Utilities and Infrastructure
Current Liabilities
Accounts payable$61 $223 $9 $— $293 
Accounts payable to affiliated companies3 118 12 (73)60 
Notes payable to affiliated companies26 281 — (6)301 
Taxes accrued54 67 — — 121 
Interest accrued9 40 — — 49 
Current maturities of long-term debt17 40 — — 57 
Regulatory liabilities26 53 — 1 80 
Other3 66 1 — 70 
Total current liabilities199 888 22 (78)1,031 
Long-Term Debt860 3,762 53 40 4,715 
Long-Term Debt Payable to Affiliated Companies7 — — — 7 
Other Noncurrent Liabilities
Deferred income taxes473 878 53 1 1,405 
Asset retirement obligations68 26 — — 94 
Regulatory liabilities226 783 — 10 1,019 
Operating lease liabilities— 1 — — 1 
Accrued pension and other post-retirement benefit costs23 6 — — 29 
Investment tax credits— 1 — — 1 
Other35 80 — 2 117 
Total other noncurrent liabilities825 1,775 53 13 2,666 
Equity
Total Duke Energy Corporation stockholders' equity2,960 4,073 200 1,276 8,509 
Noncontrolling interests— — 3 — 3 
Total equity2,960 4,073 203 1,276 8,512 
Total Liabilities and Equity4,851 10,498 331 1,251 16,931 
Segment reclassifications, intercompany balances and other(32)(106)(103)103 (138)
Reportable Segment Liabilities and Equity$4,819 $10,392 $228 $1,354 $16,793 
(a)    Includes balances of the wholly owned subsidiary Duke Energy Kentucky.
(b)    Includes the elimination of intercompany balances and purchase accounting adjustments.

31

Electric Utilities and Infrastructure
Quarterly Highlights
June 2026
Three Months Ended June 30,Six Months Ended June 30,
20262025
%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
20262025%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
Gigawatt-hour (GWh) Sales(a)
Residential19,649 19,328 1.7%2.1%45,054 44,553 1.1%0.5%
Commercial
19,525 19,267 1.3%1.7%38,596 38,169 1.1%1.4%
Industrial11,434 11,751 (2.7%)(0.5%)22,172 22,715 (2.4%)(1.4%)
Other Energy Sales124 138 (10.1%)n/a254 254 —%n/a
Unbilled Sales2,697 2,811 (4.1%)n/a1,022 995 2.7%n/a
Total Retail Sales
53,429 53,295 0.3%1.3%107,098 106,686 0.4%0.4%
Wholesale and Other11,013 10,866 1.4%22,798 22,717 0.4%
Total Consolidated Electric Sales – Electric Utilities and Infrastructure
64,442 64,161 0.4%129,896 129,403 0.4%
Average Number of Customers (Electric)
Residential7,638,620 7,520,099 1.6%7,627,440 7,509,110 1.6%
Commercial
1,051,759 1,047,601 0.4%1,051,299 1,046,413 0.5%
Industrial14,801 15,125 (2.1%)14,798 15,215 (2.7%)
Other Energy Sales22,612 23,054 (1.9%)22,685 23,129 (1.9%)
Total Retail Customers
8,727,792 8,605,879 1.4%8,716,222 8,593,867 1.4%
Wholesale and Other57 52 9.6%56 52 7.7%
Total Average Number of Customers – Electric Utilities and Infrastructure
8,727,849 8,605,931 1.4%8,716,278 8,593,919 1.4%
Sources of Electric Energy (GWh)
Generated – Net Output(c)
Coal9,169 7,785 17.8%20,950 19,132 9.5%
Nuclear17,959 19,250 (6.7%)36,465 38,176 (4.5%)
Hydro84 452 (81.4%)374 898 (58.4%)
Natural Gas and Oil23,037 22,372 3.0%44,802 43,925 2.0%
Renewable Energy1,310 1,171 11.9%2,295 2,012 14.1%
Total Generation(d)
51,559 51,030 1.0%104,886 104,143 0.7%
Purchased Power and Net Interchange(e)
15,827 16,214 (2.4%)31,066 31,166 (0.3%)
Total Sources of Energy67,386 67,244 0.2%135,952 135,309 0.5%
Less: Line Loss and Other2,944 3,083 (4.5%)6,056 5,906 2.5%
Total GWh Sources64,442 64,161 0.4%129,896 129,403 0.4%
Owned Megawatt (MW) Capacity(c)(f)
Summer52,048 50,569 
Winter55,820 55,216 
Nuclear Capacity Factor (%)(g)
93 99 
(a)    Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.
(b)    Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).
(c)    Statistics reflect Duke Energy's ownership share of jointly owned stations.
(d)    Generation by source is reported net of auxiliary power.
(e)    Purchased power includes renewable energy purchases.
(f)    Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.
(g)    Statistics reflect 100% of jointly owned stations.

32

Duke Energy Carolinas
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
June 2026
Three Months Ended June 30,Six Months Ended June 30,
20262025
%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
20262025%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
GWh Sales(a)
Residential6,4006,165 3.8%15,48215,3031.2%
Commercial
7,4387,265 2.4%14,77214,6550.8%
Industrial4,8904,977 (1.7%)9,3969,531(1.4%)
Other Energy Sales6577 (15.6%)1341330.8%
Unbilled Sales9351,080 (13.4%)320350(8.6%)
Total Retail Sales
19,72819,564 0.8%1.6%40,10439,9720.3%0.4%
Wholesale and Other2,6802,604 2.9%5,8845,7542.3%
Total Consolidated Electric Sales – Duke Energy Carolinas
22,40822,168 1.1%45,98845,7260.6%
Average Number of Customers
Residential2,586,4962,536,1782.0%2,581,2232,530,3722.0%
Commercial
402,857402,816—%402,932402,3770.1%
Industrial5,7395,845(1.8%)5,7445,870(2.1%)
Other Energy Sales10,67210,803(1.2%)10,68610,819(1.2%)
Total Retail Customers
3,005,7642,955,6421.7%3,000,5852,949,4381.7%
Wholesale and Other302711.1%28267.7%
Total Average Number of Customers – Duke Energy Carolinas
3,005,7942,955,6691.7%3,000,6132,949,4641.7%
Sources of Electric Energy (GWh)
Generated – Net Output(c)
Coal2,613 1,538 69.9%5,5444,82314.9%
Nuclear10,474 11,363 (7.8%)21,88123,152(5.5%)
Hydro(55)216 (125.5%)71467(84.8%)
Natural Gas and Oil6,770 6,590 2.7%13,22112,4706.0%
Renewable Energy80 87 (8.0%)139144(3.5%)
Total Generation(d)
19,882 19,794 0.4%40,85641,056(0.5%)
Purchased Power and Net Interchange(e)
3,516 3,432 2.4%7,2706,6709.0%
Total Sources of Energy23,398 23,226 0.7%48,12647,7260.8%
Less: Line Loss and Other990 1,058 (6.4%)2,1382,0006.9%
Total GWh Sources22,408 22,168 1.1%45,98845,7260.6%
Owned MW Capacity(c)(f)
Summer19,84219,745
Winter20,93420,842
Nuclear Capacity Factor (%)(g)
93100
Heating and Cooling Degree Days
Actual
Heating Degree Days142 127 11.8%1,7391,770(1.8%)
Cooling Degree Days581 596 (2.5%)6276043.8%
Variance from Normal
Heating Degree Days(30.6%)(38.7%)(7.9%)(7.1%)
Cooling Degree Days14.5%18.5%21.6%18.2%
(a)    Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.
(b)    Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).
(c)    Statistics reflect Duke Energy's ownership share of jointly owned stations.
(d)    Generation by source is reported net of auxiliary power.
(e)    Purchased power includes renewable energy purchases.
(f)    Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.
(g)    Statistics reflect 100% of jointly owned stations.

33

Duke Energy Progress
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
June 2026
Three Months Ended June 30,Six Months Ended June 30,
20262025
%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
20262025%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
GWh Sales(a)
Residential3,989 3,886 2.7%9,9159,7661.5%
Commercial
3,719 3,695 0.6%7,5187,4351.1%
Industrial2,316 2,375 (2.5%)4,5084,832(6.7%)
Other Energy Sales21 21 —%4242—%
Unbilled Sales615 669 (8.1%)120(78)253.8%
Total Retail Sales
10,660 10,646 0.1%1.9%22,10321,9970.5%0.4%
Wholesale and Other6,780 6,412 5.7%13,62413,2462.9%
Total Consolidated Electric Sales – Duke Energy Progress
17,440 17,058 2.2%35,72735,2431.4%
Average Number of Customers
Residential1,551,0881,523,1291.8%1,548,1031,520,9111.8%
Commercial
249,885249,0010.4%249,687248,6670.4%
Industrial2,9403,043(3.4%)2,9563,057(3.3%)
Other Energy Sales2,3572,391(1.4%)2,3632,399(1.5%)
Total Retail Customers
1,806,270 1,777,564 1.6%1,803,1091,775,0341.6%
Wholesale and Other9 8 12.5%9812.5%
Total Average Number of Customers – Duke Energy Progress
1,806,279 1,777,572 1.6%1,803,1181,775,0421.6%
Sources of Electric Energy (GWh)
Generated – Net Output(c)
Coal1,803 1,773 1.7%3,8184,049(5.7%)
Nuclear7,485 7,887 (5.1%)14,58415,024(2.9%)
Hydro73 179 (59.2%)192317(39.4%)
Natural Gas and Oil5,377 4,996 7.6%12,31811,5157.0%
Renewable Energy102 68 50.0%16211837.3%
Total Generation(d)
14,840 14,903 (0.4%)31,07431,0230.2%
Purchased Power and Net Interchange(e)
3,257 2,761 18.0%5,5525,2535.7%
Total Sources of Energy18,097 17,664 2.5%36,62636,2761.0%
Less: Line Loss and Other657 606 8.4%8991,033(13.0%)
Total GWh Sources17,440 17,058 2.2%35,72735,2431.4%
Owned MW Capacity(c)(f)
Summer12,86512,585
Winter14,06713,880
Nuclear Capacity Factor (%)(g)
9396
Heating and Cooling Degree Days
Actual
Heating Degree Days122 83 47.0%1,6671,6063.8%
Cooling Degree Days678 754 (10.1%)731769(4.9%)
Variance from Normal
Heating Degree Days(28.2%)(51.7%)(3.2%)(7.5%)
Cooling Degree Days19.3%34.2%25.7%33.7%
(a)    Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.
(b)    Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).
(c)    Statistics reflect Duke Energy's ownership share of jointly owned stations.
(d)    Generation by source is reported net of auxiliary power.
(e)    Purchased power includes renewable energy purchases.
(f)    Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.
(g)    Statistics reflect 100% of jointly owned stations.

34

Duke Energy Florida
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
June 2026
Three Months Ended June 30,Six Months Ended June 30,
20262025
%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
20262025%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
GWh Sales(a)
Residential5,5685,622(1.0%)10,35710,2401.1%
Commercial
4,0353,9641.8%7,4687,3661.4%
Industrial744851(12.6%)1,5181,634(7.1%)
Other Energy Sales67(14.3%)1314(7.1%)
Unbilled Sales766640—%72651541.0%
Total Retail Sales
11,11911,0840.3%0.8%20,08219,7691.6%0.5%
Wholesale and Other623642(3.0%)9761,025(4.8%)
Total Electric Sales – Duke Energy Florida
11,74211,7260.1%21,05820,7941.3%
Average Number of Customers
Residential1,842,5361,815,6521.5%1,839,9881,813,6491.5%
Commercial
214,645212,6231.0%214,445212,2291.0%
Industrial1,5921,5800.8%1,5561,598(2.6%)
Other Energy Sales3,4743,538(1.8%)3,4863,550(1.8%)
Total Retail Customers
2,062,2472,033,3931.4%2,059,4752,031,0261.4%
Wholesale and Other13128.3%14137.7%
Total Average Number of Customers – Duke Energy Florida
2,062,2602,033,4051.4%2,059,4892,031,0391.4%
Sources of Electric Energy (GWh)
Generated – Net Output(c)
Coal1,0831,239(12.6%)2,5711,69351.9%
Natural Gas and Oil9,4909,621(1.4%)16,51917,625(6.3%)
Renewable Energy1,1161,00710.8%1,9761,73613.8%
Total Generation(d)
11,68911,867(1.5%)21,06621,0540.1%
Purchased Power and Net Interchange(e)
3493431.7%59445131.7%
Total Sources of Energy12,03812,210(1.4%)21,66021,5050.7%
Less: Line Loss and Other296484(38.8%)602711(15.3%)
Total GWh Sources11,74211,7260.1%21,05820,7941.3%
Owned MW Capacity(c)(f)
Summer11,92910,855
Winter12,84012,515
Heating and Cooling Degree Days
Actual
Heating Degree Days— — —%41635915.9%
Cooling Degree Days1,237 1,261 (1.9%)1,5041,4761.9%
Variance from Normal
Heating Degree Days(100.0%)(100.0%)9.6%(3.8%)
Cooling Degree Days16.5%17.8%18.9%15.2%
(a)    Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.
(b)    Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).
(c)    Statistics reflect Duke Energy's ownership share of jointly owned stations.
(d)    Generation by source is reported net of auxiliary power.
(e)    Purchased power includes renewable energy purchases.
(f)    Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.

35

Duke Energy Ohio
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
June 2026
Three Months Ended June 30,Six Months Ended June 30,
20262025
%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
20262025%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
GWh Sales(a)
Residential1,8371,8131.3%4,5504,4851.4%
Commercial
2,3522,3171.5%4,7524,6462.3%
Industrial1,0601,126(5.9%)2,1712,222(2.3%)
Other Energy Sales2021(4.8%)41402.5%
Unbilled Sales199259(23.2%)(1)138(100.7%)
Total Retail Sales
5,4685,536(1.2%)0.4%11,51311,531(0.2%)0.6%
Wholesale and Other362135168.1%628247154.3%
Total Electric Sales – Duke Energy Ohio
5,8305,6712.8%12,14111,7783.1%
Average Number of Customers
Residential842,056837,5940.5%842,449837,7350.6%
Commercial
76,72576,3910.4%76,67676,4530.3%
Industrial1,9442,051(5.2%)1,9582,076(5.7%)
Other Energy Sales2,5522,605(2.0%)2,5582,629(2.7%)
Total Retail Customers
923,277918,6410.5%923,641918,8930.5%
Wholesale and Other11—%11—%
Total Average Number of Customers – Duke Energy Ohio
923,278918,6420.5%923,642918,8940.5%
Sources of Electric Energy (GWh)
Generated – Net Output(c)
Coal74557629.3%1,6451,35521.4%
Natural Gas and Oil1429844.9%24513581.5%
Renewable Energy3——%4——%
Total Generation(d)
89067432.0%1,8941,49027.1%
Purchased Power and Net Interchange(e)
5,5255,602(1.4%)11,43211,648(1.9%)
Total Sources of Energy6,4156,2762.2%13,32613,1381.4%
Less: Line Loss and Other585605(3.3%)1,1851,360(12.9%)
Total GWh Sources5,8305,6712.8%12,14111,7783.1%
Owned MW Capacity(c)(f)
Summer1,0851,080
Winter1,1731,173
Heating and Cooling Degree Days
Actual
Heating Degree Days298408(27.0%)2,7602,971(7.1%)
Cooling Degree Days340344(1.2%)360 351 2.6%
Variance from Normal
Heating Degree Days(32.8%)(8.0%)(7.8%)(0.7%)
Cooling Degree Days0.6%1.8%5.7%3.1%
(a)    Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.
(b)    Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).
(c)    Statistics reflect Duke Energy's ownership share of jointly owned stations.
(d)    Generation by source is reported net of auxiliary power.
(e)    Purchased power includes renewable energy purchases.
(f)    Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.

36

Duke Energy Indiana
Quarterly Highlights
Supplemental Electric Utilities and Infrastructure Information
June 2026
Three Months Ended June 30,Six Months Ended June 30,
20262025
%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
20262025%
Inc. (Dec.)
% Inc. (Dec.)
Weather
Normal(b)
GWh Sales(a)
Residential1,8551,8420.7%4,7504,759(0.2%)
Commercial
1,9812,026(2.2%)4,0864,0670.5%
Industrial2,4242,4220.1%4,5794,4961.8%
Other Energy Sales1212—%2425(4.0%)
Unbilled Sales18216311.7%(143)70(304.3%)
Total Retail Sales
6,4546,465(0.2%)1.2%13,29613,417(0.9%)0.1%
Wholesale and Other5681,073(47.1%)1,6862,445(31.0%)
Total Electric Sales – Duke Energy Indiana
7,0227,538(6.8%)14,98215,862(5.5%)
Average Number of Customers
Residential816,444807,5461.1%815,677806,4431.1%
Commercial
107,647106,7700.8%107,559106,6870.8%
Industrial2,5862,606(0.8%)2,5842,614(1.1%)
Other Energy Sales3,5573,717(4.3%)3,5923,732(3.8%)
Total Retail Customers
930,234920,6391.0%929,412919,4761.1%
Wholesale and Other44—%44—%
Total Average Number of Customers – Duke Energy Indiana
930,238920,6431.0%929,416919,4801.1%
Sources of Electric Energy (GWh)
Generated – Net Output(c)
Coal2,9252,65910.0%7,3727,2122.2%
Hydro665715.8%111114(2.6%)
Natural Gas and Oil1,2581,06717.9%2,4992,18014.6%
Renewable Energy99—%1414—%
Total Generation(d)
4,2583,79212.3%9,9969,5205.0%
Purchased Power and Net Interchange(e)
3,1804,076(22.0%)6,2187,144(13.0%)
Total Sources of Energy7,4387,868(5.5%)16,21416,664(2.7%)
Less: Line Loss and Other41633026.1%1,23280253.6%
Total GWh Sources7,0227,538(6.8%)14,98215,862(5.5%)
Owned MW Capacity(c)(f)
Summer6,3276,304
Winter6,8066,806
Heating and Cooling Degree Days
Actual
Heating Degree Days348430(19.1%)2,9273,161(7.4%)
Cooling Degree Days343352(2.6%)3593541.4%
Variance from Normal
Heating Degree Days(29.5%)(12.3%)(10.2%)(2.2%)
Cooling Degree Days0.1%2.4%4.1%2.3%
(a)    Except as indicated in footnote (b), represents non-weather-normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes.
(b)    Represents weather-normal total retail calendar sales (i.e., billed and unbilled sales).
(c)    Statistics reflect Duke Energy's ownership share of jointly owned stations.
(d)    Generation by source is reported net of auxiliary power.
(e)    Purchased power includes renewable energy purchases.
(f)    Based on winter capacity for Fossil, Nuclear and Hydro generation stations, and nameplate capacity for Renewable generation stations.

37

Gas Utilities and Infrastructure
Quarterly Highlights
June 2026
Three Months Ended June 30,Six Months Ended June 30,
20262025%
Inc. (Dec.)		20262025%
Inc. (Dec.)
Total Sales
Piedmont Natural Gas Local Distribution Company (LDC) throughput (dekatherms)(a)
132,770,392 125,745,045 5.6%316,945,789 307,204,892 3.2%
Duke Energy Midwest LDC throughput (Mcf)(a)
12,023,233 13,882,749 (13.4%)48,925,823 54,338,433 (10.0%)
Average Number of Customers – Piedmont Natural Gas
Residential907,523 1,090,225 (16.8%)971,464 1,091,561 (11.0%)
Commercial91,772 109,004 (15.8%)98,435 109,426 (10.0%)
Industrial755 940 (19.7%)814 943 (13.7%)
Power Generation19 19 —%19 19 —%
Total Average Number of Gas Customers – Piedmont Natural Gas
1,000,069 1,200,188 (16.7%)1,070,732 1,201,949 (10.9%)
Average Number of Customers – Duke Energy Midwest
Residential525,236 523,704 0.3%526,881 525,151 0.3%
Commercial
34,503 34,119 1.1%35,136 34,702 1.3%
Industrial1,951 2,200 (11.3%)1,979 2,267 (12.7%)
Other 114 117 (2.6%)114 117 (2.6%)
Total Average Number of Gas Customers – Duke Energy Midwest
561,804 560,140 0.3%564,110 562,237 0.3%
(a)    Piedmont has a margin decoupling mechanism in North Carolina, weather normalization mechanisms in South Carolina and Tennessee and fixed-price contracts with most power generation customers that significantly eliminate the impact of throughput changes on earnings. Duke Energy Ohio's rate design also serves to offset this impact. On March 31, 2026, Piedmont closed on the sale of its Tennessee business.

38

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