Duke Energy Corporation (NYSE:DUK) Q2 2019 Earnings Conference Call - Final Transcript
Aug 06, 2019 • 10:00 am ET
Good day and welcome to the Duke Energy Second Quarter Earnings Call. Today's conference is being recorded.
And at this time, I would like to turn the conference over to Mr. Mike Callahan, Vice President of Investor Relations. Please go ahead, sir.
Thank you, Derek. Good morning everyone, and thank you for joining Duke Energy's second quarter 2019 earnings review and business update. Leading our call today is Lynn Good Chairman, President and CEO; along with Steve Young, Executive Vice President and Chief Financial Officer.
Today's discussion will include forward-looking information and the use of non-GAAP financial measures. Slide 2 presents the safe harbor statement, which accompanies our presentation materials. A reconciliation of non-GAAP financial measures can be found on duke-energy.com and in today's materials. Please note, the appendix for today's presentation includes supplemental information and additional disclosures.
As summarized on Slide 3, during today's call, Lynn will provide an update on the quarter and progress on our strategic initiatives. She will also discuss legislative and regulatory activity in North Carolina. Steve will then provide an overview of our second quarter financial results and insight about economic and load growth trends. He will also provide an update on our regulatory and financing activities this year, before closing with key investor considerations.
With that, let me turn the call over to Lynn.
Lynn J. Good
Mike, thank you, and good morning, everyone. Today we announced strong results for the quarter with reported and adjusted earnings per share of $1.12, compared to $0.93 in the prior year. Our results today represent 6% growth over the last year and give us confidence as we reaffirm our 2019 adjusted EPS guidance range of $4.80 to $5.20. We also reaffirmed our long-term earnings growth target of 4% to 6% through 2023.
With solid growth across all three operating segments, we are executing our long-term strategy to transform the customer experience and deliver value for our shareholders. Our investments in the energy grid, cleaner generation and natural gas infrastructure in short Duke Energy is well positioned to build a smarter, low carbon energy future. In addition, we remain committed to the dividends and for the 13th consecutive year, we increased our quarterly dividend to shareholders.
Shifting to operations, let me highlight several noteworthy accomplishments on Slide 4. First, Piedmont Natural Gas was recognized as one of America's most trusted brands among utilities, continuing to prove the franchises value, as well as his unwavering dedication to safety an impressive customer service. And we also remain steadfast in our focus on operational excellence, and I'm very proud of our employees' commitment to providing reliable, affordable and increasingly clean energy to our customers every day. This was exemplified by the strong performance of our system during the recent sustained heat wave. Our teams demonstrated exceptional preparation and collaboration across the company, and the fleet performed well, while serving near record load in the Carolinas, the Midwest and Florida.
Turning to Slide 5. Let me provide an update on how we are advancing our