The Charlotte, N.C.-based utility reported net income of $1.56 billion, or $1.99 a share, compared with $1.42 billion, or $1.81 a share, a year earlier. Adjusted earnings were also $1.99 a share, above the average Wall Street estimate of $1.86, according to FactSet. Revenue rose 6.6% to $9.1 billion, topping analysts’ average forecast of $8.91 billion, FactSet data showed.

Duke now expects 2026 adjusted earnings of $6.70 to $6.80 a share, lifting the bottom of its previous range of $6.55 to $6.80. The company maintained its long-term adjusted earnings growth projection of 5% to 7% a year through 2030, based on a 2025 baseline of $6.30 a share. Duke said it is confident it can reach the upper half of that growth range starting in 2028. The company operates electricity and natural gas utilities in several states.