Fourth Quarter 2023 Earnings Review and Business Update
2023 Financial results
REPORTED AND ADJUSTED
EARNINGS PER SHARE
$3.54
$3.17
$5.56
$5.27
Reported (¹)
Adjusted
(2)
2023
2022
MITIGATED RECORD MILD WEATHER
AND MACRO HEADWINDS BY
DELIVERING ON COST AND
AGILITY EFFORTS
YEAR-OVER-YEAR DRIVERS
Electric Utilities and Infrastructure (+$0.10
adjusted EPS)
Rate increases (NC, FL, SC, KY), riders and cost
mitigation, partially offset by weather, volumes
and higher interest expense
Gas Utilities and Infrastructure (+$0.07
adjusted EPS)
Riders and cost mitigation, partially offset by
higher interest expense
Other (+$0.12 adjusted EPS)
Higher returns on investments and lower effective
tax rate, partially offset by higher interest expense
(1) Reported results include Commercial Renewables operating results and impairment of ($1.57) in 2022 and ($1.81) in 2023
(2) 2022 and 2023 adjusted EPS exclude Commercial Renewables, which is classified as discontinued operations
DUKE
ENERGY.
FOURTH QUARTER 2023 EARNINGS REVIEW AND BUSINESS UPDATE
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