Duke Energy Corporation (NYSE:DUK) Q3 2023 Results Conference Call November 2, 2023 10:00 AM ET
Company Participants
Abby Motsinger - VP, IR
Lynn Good - Chair, President and CEO
Brian Savoy - EVP and CFO
Conference Call Participants
Shahriar Pourreza - Guggenheim
Julien Dumoulin-Smith - Bank of America
Steve Fleishman - Wolfe Research
Nick Campanella - Barclays
Durgesh Chopra - Evercore
John Miller - Goldman Sachs
Operator
Good morning. Thank you for attending the Duke Energy's Third Quarter Earnings Review and Business Update. My name is Matt, and I'll be your moderator for today's call. All lines being muted during the presentation portion of the call upon opportunity for questions and answers at the end. [Operator Instructions]
I would now like to turn the call over to our host, Abby Motsinger, Vice President of Investor Relations. Abby, please go ahead.
Abby Motsinger
Thank you, Matt, and good morning, everyone. Welcome to Duke Energy's third quarter 2023 earnings review and business update. Leading our call today is Lynn Good, Chair, President and CEO; along with Brian Savoy, Executive Vice President and CFO.
Today's discussion will include the use of non-GAAP financial measures and forward-looking information. Actual results may differ from forward-looking statements due to factors disclosed in today's materials and in Duke Energy's SEC filings. The appendix of today's presentation includes supplemental information, along with the reconciliation of non-GAAP financial measures.
With that, let me turn the call over to Lynn.
Lynn Good
Abby, thank you, and good morning, everyone. Today, we announced strong results for the third quarter, adjusted earnings per share of $1.94 compared to $1.78 for last year. During the quarter, we also made great progress on regulatory outcomes and simplification of the business. This momentum is underpinned by our strong fundamentals. We have a track record of operational excellence and serve growing jurisdictions with a long runway of investment opportunities. This positions us well for the future and gives us confidence in reaffirming our long-term earnings growth rate of 5% to 7%.
For 2023, we continue to work on cost structure to offset mild weather and weaker industrial volumes. Brian will talk more about load and cost agility efforts, but I want to take a moment to recognize the incredible work across the organization to mitigate pressures in 2023. Across the Company, agility measures, savings opportunities and efficiency improvements are well underway, while never compromising on our commitment to safety and customers. We expect to finish the year within our guidance range trending to the lower half of the range.