Duke Energy

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

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F500-2021-126-Duke-Energy

Headquartered in Charlotte, N.C., the electric power and natural gas distributor provides electricity to 7.8 million customers in six U.S. states.

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This year's Fortune 500 marks the 66th running of the list.

F500-2020-123-Duke-Energy

The Charlotte, N.C.-based electric power and gas distributor provides energy to 7.7 million electric retail customers located in six states, while more than 1.6 million customers in five states receive natural gas distribution services through Duke.

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Here are the World's Most Admired Companies for 2018 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 64th running of the list.

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This year's Fortune 500 marks the 63rd running of the list.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

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Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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<p>A utilities giant, Duke Energy’s electric businesses service nearly 9 million customers in the South and Midwest. The natural gas business counts almost 2 million more customers in the Carolinas, Tennessee, Ohio, and Kentucky. Charlotte-based Duke’s power generation runs the gamut, including hydro, coal, nuclear, natural gas, solar, and battery storage power. Duke is currently focused on building more gas-fired generation, renewable energy, and transmission lines to help power the anticipated domestic spike in power demand, including data centers.</p>

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Duke Energy (DUK): Company Profile, Stock Price, News, Rankings

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duke energy

A utilities giant, Duke Energy’s electric businesses service nearly 9 million customers in the South and Midwest. The natural gas business counts almost 2 million more customers in the Carolinas, Tennessee, Ohio, and Kentucky. Charlotte-based Duke’s power generation runs the gamut, including hydro, coal, nuclear, natural gas, solar, and battery storage power. Duke is currently focused on building more gas-fired generation, renewable energy, and transmission lines to help power the anticipated domestic spike in power demand, including data centers.

Duke Energy (DUK): Company Profile, Stock Price, News, Rankings | Fortune

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Duke Energy promises over $1 billion in savings over a decade from merger of North, South Carolina utilities

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Lynn Good, CEO of Duke Energy, examines how to change and strengthen a major organization.

 Leadership insights from the CEO who powers the country

Leadership

There are parts of this as I reflect on it where it feels like only yesterday, I took the job, but then there are parts of it who feel like, oh my goodness, this is been forever. So it's a challenging job. There are ups and downs. I think the most challenging part is that we operate an industry that is a very long dated industry. So I'm building assets for this decade, next decade and beyond yet, the cycle time of change, whether it's regulations, whether it's technologies, whether it's, you know, the ability to secure talent, those cycle times occur very rapidly. And so you're always trying to do your best work to figure out how to navigate the short term while you're also making important decisions. For the long term. I'm looking for capability. I'm looking for energy. I'm looking for someone who is interested in innovation and change. I'm looking for someone who has a point of view about how they want to pursue, not only their career, but you know, something in the industry or the future. So there's a level of enthusiasm, there's a level of optimism, there's a level of resilience that I would be looking for with any candidate. I think the business issues are different um in our industry, the whole discussion around carbon reduction has just escalated over the 10 years. But when I think about some of the fundamentals, having a strong team around you, bringing a degree of resilience and optimism to your work. Always being aware of the external environment and trying to make long term strategic decisions. Some of those fundamentals haven't changed since the circumstances and the events and the current events have changed around you. I think it's hard work. I think it's making sure you have a pipeline of people, diverse people that are ready to assume increasing goals. So it's like any business objective, you have to put a plan together, you have to execute the plan, you have to have a long term view of how you're going to accomplish it. And in every instance, it just requires attention to move and change an organization.

CEO Lynn Good believes renewable energy is key to her company's future and remains committed to reducing carbon emissions.

Duke Energy's CEO ignores the political noise around climate change

Duke Energy CEO ignores politics around climate change

So why don't we start with the, you know, you've been CEO for a decade now. What's the biggest difference in the energy sector now? Versus when you started? I think the conversation around climate change and carbon reduction has just escalated over my tenure. And the good news about that is I feel like there's a lot of alignment about the future strategy on how we're gonna get there and a lot of work toward a common goal in the industry. But that single issue is so uh significant to our company and to the industry that it's the entire business strategy is focused around how to achieve carbon reduction, all the capital planning, all the talent management uh considerations are focused on that. Probably the single biggest change. Let's talk a little bit about uh politics because, you know, unfortunately everything gets politicized in the US. From your point of view, does the politicization of of everything including energy, does that bring on more renewable energy harder or is it just, you know, blah, blah, blah from politicians and and behind the scenes, companies and utilities and people are on board with it. Well, in my world, I'm running a company that and making investment decisions that I want to be proud of. Not only this year, but 10 years from now, 20 years from now, 30 years from now. So we have developed a clear eyed view that we want to reduce carbon emissions and we want to reduce it in an affordable way and a reliable way so our customers can count on it. And so the political wins will change. There will be different points of view, there will be different voices at the state level, at the federal level, the US does not have a comprehensive energy policy. So you're working to find compromise bipartisan solutions when you can and working to navigate the politics in a way that still works for your policy makers, but also remains on track for what you believe is the long term sustainable solution for the company. Uh I don't think there will ever be a moment when energy isn't part of the conversation because it affects all of us, our lives, our industries, our livelihood, our economy. And so we can't plan for a day when we all agree, we just have to keep a clear idea on where we're going and take advantage of the opportunities that are in front of us. Can you hit your um your, your carbon emission goals without government subsidies or, or is that all part of the, you know, when you talk about building plants and places that will replace coal facilities, for example, I mean, can you uh can you get these goals without the help of the government? I think the combination of goals with reliability and affordability is the way I think about it and where the tax incentives, Inflation Reduction Act are helpful, is it works on that affordability. So for duke energy, every dollar of tax incentives that we receive goes directly to lower cost of electricity to customers. Is it essential? I don't know if it's essential. It's certainly helpful, particularly in this inflationary environment, high interest rates, high commodity prices, it creates an incredibly valuable tool for us in lowering price to customers. But that transition always has to find balance between those three things. Our aspirations around the environment, reliability for what our customers count on and then affordability not only for vulnerable customers but our industrials as well. So what do you make of the pushback on E S G? I mean, there's a lot of again, you know, this goes back to the political discussion but a lot of people say E S G is a lot of hot air and virtue signaling, et cetera. So do you think this is for real or you know, what do you think of the pushback against or is it, you know, you've made these commitments? And it's an interesting conversation because I think a topic like E S G, we can all agree we ought to take care of the environment. We need to take care of customers and employees and we want to have outstanding governance so that our investors know they can count on Duke Energy and their board. But sometimes those conversations get pulled politically really far left, really far, right. And some of it gets distorted over time, you know, in my world, we continue to look for ways we can run, manage and deliver a Duke energy in a sustainable way. And I think that means taking care of the environment. I think that means having a diverse and inclusive workforce caring for our customers, being responsible in our communities, using our foundation in ways that can help and we will always hold ourselves to a very high standard around governance. And so uh that's the way I think about it. Um Again, running Duke energy for the future, when, when, when there's a power outage, what's your first reaction? Oh my. You think for yourself like how my phones charge or you like? Oh damn. It's a work uh It's a work emergency, you know, uh if I'm ever anywhere that we serve and there's a power outage, outage, there's immediate, you know, what's going on, how do we get it back? Um Because you have a conviction around the importance of your product to customers. I mean, there's no question. I mean, we are safety, we are warmth, uh we are entertainment, uh all of those things and so understanding quickly why and how are we going to get it back is always top of mind.

 SUSIE GHARIB: Some CEOs have told us at Fortune that the return to business is not a restart, it's a reset. It seems like the question that CEOs are asking is, what do we want to be when we come out of this crisis? And what sort of conversations have you been having along the same lines? TIGER TYAGARAJAN: I think the word reset is a great word. And restart versus reset, I think most CEOs are thinking about reset. What does reset mean would be different to different businesses. So for example, is there going to be a different ratio between online and physical when it comes to retail? Experiences, are all experiences meant to be physical altogether? Sports, I still am going to miss arena sports for some time, but am I going to change the amount that I'm going to spend in a sports arena versus in Esports? Are supply chains going to need to rapidly change? Where you buy services and products from, does that have to be more diverse in order to actually leverage talent pools and diversify risk much more? OK, and something as stupid as we think, for example, laptops are going to replace desktops significantly in offices. LYNN GOOD: When you're in the midst of something like this, a crisis, the priorities become very clear very quickly. And those priorities are, take care of your customers and take care of your employees. And then make sure that you're doing the essential services that go with that, and thinking about the scenarios and the outcomes that you might think about over the longer term. Things like financial results. Things like policy changes, whether it involves our employees or our customers. But we are in the early part of this event, and I think keeping that clear priority on essential service and safety of employees is where all of our focus is. And then we will run our business and run our business while responding to longer term economic impacts as we go forward, because we understand the importance of delivering certainty to our investors, as well. MARGARET KEANE: People are spending. I think the real test is going to be what happens-- and I am not an economist, but I would say I think the biggest test is going to be how long are the people out of work? So do we see a bounce back? And what worries me, if I think of what I lose sleep at night on a little bit is, we have an enormous amount of small businesses out there that are shut. And I do think we have to start opening some of those businesses up to get people back working. And I think for us the factor is really going to be how quickly can people get a paycheck and get back to work? JIM HACKETT: Our mindset going into this was that we were going to look at a V-shaped kind of curve. Now, that is up for intellectual debate. So I purposely tried to protect as many jobs as we could. At the top of the company we've all taken pay reductions, but the idea is to get everyone back to work. And as soon as we can consider this safe target, I suspect that you'll have a stepped approach to everyone getting back to work. Let me give you a quick example. One of our factories has 7,000 people in it. So they can't all show up at the door one day and be productive. So we have to turn it on in waves, so to speak. In addition to the consciousness of the safety and the stepping up, we need the economy to respond, from a demand perspective. So we're talking to various people in government that work on this and say, if you can create some sort of incentives at the end of this, that would be helpful to the whole industry. ED BASTIAN: Business is really bouncing along the bottom right now. There's not too much lower we can go, that's the good news. But we've got a lot to start to rebuild and hopefully regain confidence in the traveling public that it's safe to travel again. We're implementing all the social distancing standards that you could take. We've changed the entire boarding process. Typically the boarding process is the people is first class board first and they get a nice room and the luggage space, and the people gradually move to the back. Well, we thought about and said, well, that's not safe for the people sitting up front, to have people parading past them when you're supposed to be socially distant, right? So actually one of our employees sent me an email that said, shouldn't we be doing this the other way? And I thought about it and said, she's absolutely right. So we're now even boarding from the back of the plane to get people settled in the back moving. We've capped load factors so that we will not board a plane with more than 60% full in the main cabin or 50% full in first class. We're sanitizing, we're providing as much fogging and cleanliness. Our cleaning scores are through the ceiling. We take the opportunity to rethink about what the business is going to look like in the future. We're not going to be building back what we had necessarily. So we're building up a lot of cash to get through what will be a difficult winter, no question about it. Maybe it's going to be two years of difficulty. SUSIE GHARIB: Right. ED BASTIAN: We're going we're going to see it through by preserving our financial flexibility and building up a pretty big nest egg. 

Fortune 500 CEOs discuss coming back to work after the coronavirus pandemic.

How to Reopen: CEOs weigh in

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CEOs discuss coming back to work after the pandemic.

CEOs discuss coming back to work after the coronavirus pandemic.

[ SOUND ] Lynne, thank you so much for joining us. As you know, everybody is talking now about when is the right time in the right way to reopen the economy so that people can go back to work, leave their homes and have those in person meetings. What are your plans ?>> Your Suzy, you're exactly right. As we see the virus reaching a peak, that conversation is occurring all over the areas that we serve. And so what we have done is we've set up a task force, a group of business leaders to really evaluate the conditions that we need to see in order to move forward. We are presently working under a remote work plan until May 15th and then we'll began bringing the people back. And I would say the guiding principle here are of course safety of our employees and gradual staggered deliberate thoughtful approach to bringing people back. We wanna make sure that the conditions are safe that we can practice the social distancing. We've got the personal protective equipment. And so I see scenarios where were staggering hours were staggering days different states are coming back at different times. And all along the way we'll be monitoring what's happening in our communities and what's happened at Duke Energy. Because I think all of us are concerned that there could be a spike or a reoccurrence of more virus infections and we want to make sure that we are transitioning in a way that keeps people safe. Let me pick up on the part you said different states because. Duke operates in seven states and so each state has its own conditions for allowing businesses to reopen. So, how does this work for your company in terms of your operations and business continuity? Yeah, Susie it's going to be one of the key things that we look at in the task force that we've put together is going to be looking at requirements on each from each state, the federal requirements, CDC guidelines, best practices. And actually as an industry we have spent a lot of time with our European Colleagues, European utilities to learn what they have learned as they begin to transition workforce back. So all of that information will go into the calendar that we develop. And I would say it will be multi month as we begin piloting, starting with a few employees, checking, adjusting. See how it's going And then more deliberately begin bringing people back over several months. Besides the timing of all this people are really on edge about going back to work. They're concerned about safety issues, health issues. What are you telling your employees to reassure them. You Susie, I would point to a couple of things, certainly reinforcing with employees that the guidelines that we're following and safety. Protocols are consistent with what we're hearing from the CDC from our states and the federal government. And communication has been extraordinarily important. Not only videos and podcasts and open forums for employees have an opportunity to ask questions, but also the portal where we have put All kinds of information for employees. we've communicated with families by sending fliers to their homes outlining the safety precautions that are underway because we found the family members are also concerned. So there's been an opportunity Here to really test a variety of methods to communicate with employees also take employee survey results and get some feedback that way. So it's been a number of things Susie and I think that'll be an effort that Continues. What are your thoughts about virus testing? Temperature checks? Is this something that would reassure your workforce and if so, could this then become. A normal regular way of life in the workplace. We have used both testing and temperature checks Susie, I think about the work underway at our power plants, where we bring in contractors and other employees from outside of Duke Energy We have employed temperature checks really as a way to reinforce to people coming into our site that if you're not feeling well, we want you to go home and get better. And then come back when you're not suffering from those symptoms. And we use testing voluntarily. To give employees an extra level of assurance that they're well. And if they believe they've been exposed, the testing can give them some confidence. If they're infected, they can get help, and if not, they can come back to work with confidence. So whether or not this is a long term issue, Susie, I think that remains to be seen, but certainly It's an extra layer of protection that we think is appropriate at this point. So Lynn, once you get beyond this opening up phase so to speak up what's the outlook produce business? We provide an essential service Suzy and I think that has been underscored during this virus almost more so than at any point. You think about the number of people who are working at home, who have their children at home who have refrigerators full of food and are doing so many things in that confined area. Electricity is what makes it possible for us to do all of those things and so we continue to serve our customers serve them well and believe that energy and providing energy in a clean, safe and reliable way Is an extraordinarily important industry and one that represents a growth opportunity as we go forward. You know, so many companies, big or small, have shut down. So we're talking about from restaurants, shopping malls, corporate offices, sports arenas, all of them that use electricity. And not to mention that Duke has been very generous and And not collecting payments from some of your customers who just can't afford to pay their bills. What is the financial impact of all of this ?. Susie, I would say to you that, during the last two months our focus has been on two things. One is. Providing reliable service to our customers, making sure there's essential services there, every hour of every day. And then secondly, keeping our employees safe. And we've talked about that. And so as we thought about how do we do our work during this period, our customers are struggling as you indicated, many of them. So setting aside Disconnects, no anxiety necessary for customers around disconnect around fi so that they can work on the things that they need to work on during this pandemic. We are seeing a reduction in load. I think that's something that's been reported throughout the US. We are also watching closely the economic forecast on, is there a bounce back in the third quarter, fourth quarter? Is it longer term? We will make adjustments around the longer term impact of the economy over time. But right now our focus is providing that essential service. Taking care of our customers, taking care of our communities with donations from our foundation. And then of course focused on the safety of our employees. Well, as everybody is talking about that. We're going to get into this normal but nobody really knows. It's there's so many unknowns of what that really means whether you're talking about for the other Economy for businesses for a millions of people who are out of jobs and we don't know how long this is going to go along. So as the CEO of Duke, how are you navigating through all of this given the unknowns so that you can maintain and also grow Duke Energy Susie, when you're in the midst of something like this a crisis, the priorities become very clear very quickly. And those priorities are take care of your customers and take care of your employees and then Make sure that you're doing the essential services that go with that and thinking about the scenarios and the outcomes that you might think about over the longer term. Things like financial results, things like Policy changes whether it involves our employees or our customers. But we are in the early part of this event, and I think keeping that clear priority on essential service and safety of employees is where all of our focus is And then we will run our business or run our business well responding to longer term economic impacts as we go forward, because we understand the importance of delivering certainty to our investors as well. And so we will have good discussions with investors first quarter and second quarter on what we see in our business. And we have a demonstrated track record at Duke of responding to extraordinary events in a way that finds that right balance between customers investors and that's our commitment in this event as well. [ BLANK_AUDIO ]

Lynn Good says Duke is focused on maintaining their "essential service" for customers relying on power in their homes.

Duke Energy CEO: Financial concerns secondary to employees, customers during pandemic

CEO Lynn Good reflects on crisis recovery timeline.

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