- Full year 2024 GAAP net income of $2.44 per share; operating
earnings (non-GAAP) of $2.77 per share
- Fourth-quarter 2024 GAAP net income of $0.15 per share;
operating earnings (non-GAAP) of $0.58 per share
- Company narrows 2025 operating EPS range to $3.28 to $3.52 per
share; preserves original midpoint of $3.40 per share
- Company reaffirms its existing guidance for long-term operating
EPS growth rate, credit & dividend
Dominion Energy, Inc. (NYSE: D), today announced unaudited net
income determined in accordance with Generally Accepted Accounting
Principles (GAAP, or reported earnings) for the three months ended
Dec. 31, 2024, of $145 million ($0.15 per share) compared with net
income of $331 million ($0.37 per share) for the same period in
2023, with net income of $2.1 billion ($2.44 per share) for the 12
months ended Dec. 31, 2024, compared with net income of $2.0
billion ($2.33 per share) for the same period in 2023.
“We delivered 2024 operating earnings per share in the top half
of our guidance range despite worse-than-normal weather in our
regulated service areas. In addition, we continued to successfully
provide the reliable, affordable, and increasingly clean energy
that powers our customers every day while achieving near-record
employee safety performance,” said Bob Blue, chair, president and
chief executive officer of Dominion Energy.
Operating earnings (non-GAAP) for the three months ended Dec.
31, 2024, were $504 million ($0.58 per share), compared to
operating earnings of $260 million ($0.29 per share) for the same
period in 2023. Operating earnings for the 12 months ended Dec. 31,
2024, were $2.4 billion ($2.77 per share) compared with operating
earnings of $1.7 billion ($1.95 per share) for the same period in
2023.
Differences between GAAP and operating earnings for the period
include gains and losses on nuclear decommissioning trust funds,
mark-to-market impact of economic hedging activities, a net benefit
from discontinued operations primarily associated with the sale of
gas distribution operations, and other adjustments. Details of
operating earnings as compared to prior periods, business segment
results and detailed descriptions of items included in reported
earnings but excluded from operating earnings can be found on
Schedules 1, 2, 3 and 4 of this release.
Guidance
The company narrowed its existing 2025 operating earnings
guidance range to $3.28 to $3.52 per share, inclusive of estimated
RNG 45Z income, preserving the original midpoint of $3.40 per
share. The company reaffirmed its long-term operating earnings per
share growth guidance of 5% to 7% through 2029 off 2025 operating
earnings per share midpoint excluding RNG 45Z ($3.30 per share).
The company also reaffirmed its existing credit and dividend
guidance.
Webcast today
The company will host its fourth-quarter 2024 earnings call at
10 a.m. ET today, Feb. 12, 2025. Management will discuss matters of
interest to financial and other stakeholders including recent
financial results.
A live webcast of the conference call, including accompanying
slides and other financial information, will be available on the
investor information pages at investors.dominionenergy.com.
For individuals who prefer to join via telephone, domestic
callers should dial 1-800-445-7795 and international callers should
dial 1-785-424-1699. The conference ID for the telephonic earnings
call is DOMINION. Participants should dial in 10 to 15 minutes
prior to the scheduled start time.
A replay of the webcast will be available on the investor
information pages by the end of the day Feb. 12. A telephonic
replay of the earnings call will be available beginning at about 1
p.m. ET on Feb. 12. Domestic callers may access the recording by
dialing 1-800-283-4783. International callers should dial
1-402-220-0859. The passcode for the replay is 17292.
Important note to investors regarding operating, reported
earnings
Dominion Energy uses operating earnings (non-GAAP) as the
primary performance measurement of its results for public
communications with analysts and investors. Operating earnings are
defined as reported earnings adjusted for certain items. Dominion
Energy also uses operating earnings internally for budgeting, for
reporting to the Board of Directors, for the company’s incentive
compensation plans, and for its targeted dividend payouts and other
purposes. Dominion Energy management believes operating earnings
provide a more meaningful representation of the company’s
fundamental earnings power. In providing its operating earnings
guidance, the company notes that there could be differences between
expected reported earnings and estimated operating earnings for
matters such as, but not limited to, the mark-to-market impact of
economic hedging activities, gains and losses on nuclear
decommissioning trust funds, market-related impacts on pension and
other postretirement benefit plans, acquisitions, divestitures, or
extreme weather events and other natural disasters. At this time,
Dominion Energy management is not able to estimate the aggregate
impact of these items on future period reported earnings.
Accordingly, Dominion Energy is not able to provide a corresponding
GAAP equivalent for its operating earnings guidance.
About Dominion Energy
Dominion Energy (NYSE: D), headquartered in Richmond, Va.,
provides regulated electricity service to 3.6 million homes and
businesses in Virginia, North Carolina, and South Carolina, and
regulated natural gas service to 500,000 customers in South
Carolina. The company is one of the nation's leading developers and
operators of regulated offshore wind and solar power and the
largest producer of carbon-free electricity in New England. The
company's mission is to provide the reliable, affordable, and
increasingly clean energy that powers its customers every day.
Please visit DominionEnergy.com to learn more.
This release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to various risks and uncertainties. Factors that
could cause actual results to differ include, but are not limited
to: unusual weather conditions and their effect on energy sales to
customers and energy commodity prices; extreme weather events and
other natural disasters; extraordinary external events, such as the
pandemic health event resulting from COVID-19; federal, state and
local legislative and regulatory developments; changes in or
interpretations of federal and state tax laws and regulations;
changes to regulated rates collected by Dominion Energy; risks
associated with entities in which Dominion Energy shares ownership
with third parties, such as a 50% noncontrolling interest in the
Coastal Virginia Offshore Wind (CVOW) commercial project, including
risks that result from lack of sole decision making authority,
disputes that may arise between Dominion Energy and third-party
participants and difficulties in exiting these arrangements; timing
and receipt of regulatory approvals necessary for planned
construction or expansion projects and compliance with conditions
associated with such regulatory approvals; the inability to
complete planned construction projects within time frames initially
anticipated; risks and uncertainties that may impact the ability to
construct the CVOW commercial project within the currently proposed
timeline, or at all, and consistent with current cost estimates
along with the ability to recover such costs from customers; risks
and uncertainties associated with the timely receipt of future
capital contributions, including optional capital contributions, if
any, from the noncontrolling financing partner associated with the
construction of the CVOW commercial project; changes to federal,
state and local environmental laws and regulations, including those
related to climate change; cost of environmental strategy and
compliance, including cost related to climate change; changes in
implementation and enforcement practices of regulators relating to
environmental standards and litigation exposure for remedial
activities; changes in operating, maintenance and construction
costs; the availability of nuclear fuel, natural gas, purchased
power or other materials utilized by Dominion Energy to provide
electric generation, transmission and distribution and/or gas
distribution services; additional competition in Dominion Energy’s
industries; changes in demand for Dominion Energy’s services; risks
and uncertainties associated with increased energy demand or
significant accelerated growth in demand due to new data centers,
including the concentration of data centers primarily in Loudoun
County, Virginia and the ability to obtain regulatory approvals,
environmental and other permits to construct new facilities in a
timely manner; the technological and economic feasibility of
large-scale battery storage, carbon capture and storage, small
modular reactors, hydrogen, and/or other clean energy technologies;
receipt of approvals for, and timing of, closing dates for
acquisitions and divestitures; impacts of acquisitions,
divestitures, transfers of assets by Dominion Energy to joint
ventures, and retirements of assets based on asset portfolio
reviews; adverse outcomes in litigation matters or regulatory
proceedings; fluctuations in interest rates; changes in rating
agency requirements or credit ratings and their effect on
availability and cost of capital; and capital market conditions,
including the availability of credit and the ability to obtain
financing on reasonable terms. Other risk factors are detailed from
time to time in Dominion Energy’s quarterly reports on Form 10-Q
and most recent annual report on Form 10-K filed with the U.S.
Securities and Exchange Commission.
Consolidated Statements of Income (GAAP)
Dominion Energy, Inc.
Consolidated Statements of
Income *
Unaudited (GAAP Based)
Three Months Ended
Twelve Months Ended
December 31,
December 31,
(millions, except per share amounts)
2024
2023
2024
2023
Operating Revenue
$
3,400
$
3,534
$
14,459
$
14,393
Operating Expenses
Electric fuel and other energy-related
purchases
827
925
3,614
3,935
Purchased electric capacity
17
12
74
55
Purchased gas
62
73
260
285
Other operations and maintenance(1)
1,374
961
4,188
3,440
Depreciation and amortization
554
684
2,345
2,580
Other taxes
175
167
731
684
Total operating expenses
3,009
2,822
11,212
10,979
Income (loss) from operations
391
712
3,247
3,414
Other income (expense)
122
371
822
984
Interest and related charges
441
608
1,887
1,674
Income (loss) from continuing operations
including noncontrolling interests before income tax expense
(benefit)
72
475
2,182
2,724
Income tax expense (benefit)
(23
)
111
308
568
Net Income (loss) from continuing
operations including noncontrolling interests
95
364
1,874
2,156
Net Income (loss) from discontinued
operations including noncontrolling interests
(3
)
(33
)
197
(125
)
Net Income (loss) including noncontrolling
interests
92
331
2,071
2,031
Noncontrolling interests
(53
)
-
(53
)
-
Net Income (loss) attributable to
Dominion Energy
$
145
$
331
$
2,124
$
2,031
Reported Income (loss) per common share
from continuing operations - diluted
$
0.15
$
0.41
$
2.20
$
2.48
Reported Income (loss) per common share
from discontinued operations - diluted
-
(0.04
)
0.24
(0.15
)
Reported Income (loss) per common share
- diluted
$
0.15
$
0.37
$
2.44
$
2.33
Average shares outstanding, diluted
842.2
837.3
839.4
836.5
(1)
Includes impairment of assets and other
charges (benefits) and losses (gains) on sales of assets.
*The notes contained in Dominion Energy's most recent
quarterly report on Form 10-Q or annual report on Form 10-K are an
integral part of the Consolidated Financial Statements.
Schedule 1 - Segment Reported and Operating Earnings
Unaudited
Three Months Ended December
31,
Twelve Months Ended December
31,
(millions, except per share amounts)
2024
2023
Change
2024
2023
Change
REPORTED EARNINGS(1)
$
145
$
331
$
(186
)
$
2,124
$
2,031
$
93
Pre-tax loss (income)(2)
478
(83
)
561
410
(1,797
)
2,207
Income tax(2)
(119
)
12
(131
)
(142
)
1,481
(1,623
)
Adjustments to reported earnings
359
(71
)
430
268
(316
)
584
OPERATING EARNINGS (non-GAAP)
$
504
$
260
$
244
$
2,392
$
1,715
$
677
By segment:
Dominion Energy Virginia
440
369
71
2,011
1,684
327
Dominion Energy South Carolina
102
75
27
398
377
21
Contracted Energy
54
(19
)
73
359
99
260
Corporate and Other
(92
)
(165
)
73
(376
)
(445
)
69
$
504
$
260
$
244
$
2,392
$
1,715
$
677
Earnings Per Share (EPS)(3):
REPORTED EARNINGS(1)
$
0.15
$
0.37
$
(0.22
)
$
2.44
$
2.33
$
0.11
Adjustments to reported earnings
(after-tax)
0.43
(0.08
)
0.51
0.33
(0.38
)
0.71
OPERATING EARNINGS (non-GAAP)
$
0.58
$
0.29
$
0.29
$
2.77
$
1.95
$
0.82
By segment:
Dominion Energy Virginia
0.52
0.44
0.08
2.40
2.01
0.39
Dominion Energy South Carolina
0.12
0.09
0.03
0.47
0.45
0.02
Contracted Energy
0.07
(0.02
)
0.09
0.43
0.12
0.31
Corporate and Other
(0.13
)
(0.22
)
0.09
(0.53
)
(0.63
)
0.10
$
0.58
$
0.29
$
0.29
$
2.77
$
1.95
$
0.82
Common Shares Outstanding (average,
diluted)
842.2
837.3
839.4
836.5
(1)
Determined in accordance with Generally
Accepted Accounting Principles (GAAP).
(2)
Adjustments to reported earnings are
included in Corporate and Other segment reported GAAP
earnings. Refer to Schedules 2 and 3 for details or find
"GAAP Reconciliation" in the Earnings Release Kit on Dominion
Energy's website at investors.dominionenergy.com.
(3)
The calculation of reported and operating
earnings per share on a consolidated basis utilizes shares
outstanding on a diluted basis with all dilutive impacts, primarily
consisting of potential shares which had not yet been issued,
reflected in the Corporate and Other segment. The calculation of
operating earnings per share for the three and twelve months ended
December 31, 2024 excludes a deemed dividend of $1 million and $10
million, respectively, associated with the Company's repurchase of
certain Series B preferred stock. Reported and operating earnings
per share for the three and twelve months ended December 31, 2024
includes the impact of preferred dividends associated with Series B
preferred stock of $3 million and $24 million, respectively. During
each quarter of 2023, the calculation of reported and operating
earnings per share includes the impact of preferred dividends
associated with Series B preferred stock of $9 million. During each
quarter of 2024 and 2023, the calculation of reported and operating
earnings per share includes the impact of preferred dividends
associated with Series C preferred stock of $11 million. See Forms
10-Q and 10-K for additional information.
Schedule 2 - Reconciliation of 2024 Reported Earnings to
Operating Earnings
2024 Earnings (Twelve Months Ended December 31, 2024)
The $410 million pre-tax net loss of the adjustments included in
2024 reported earnings, but excluded from operating earnings, is
primarily related to the following items:
- $5 million net market loss primarily associated with $372
million on pension and other postretirement benefit (OPEB) plans
and $198 million in economic hedging activities offset by $565
million from nuclear decommissioning trusts (NDT).
- $228 million of net benefit from discontinued operations
primarily related to a $247 million benefit associated with gas
distribution operations (inclusive of a $130 million net loss on
sales related to the East Ohio, Questar Gas and PSNC
Transactions).
- $276 million of regulated asset retirements and other charges
primarily associated with a $103 million charge for Virginia
Power’s share of costs not expected to be recovered from customers
on the Coastal Virginia Offshore Wind (CVOW) Commercial project, a
$58 million charge from the South Carolina electric rate case, $40
million in demolition and decommissioning costs at Virginia Power
and a $30 million write off of certain early stage development
costs for potential electric generation projects in Virginia no
longer under consideration.
- $229 million of nonregulated asset impairments and other
charges related to a $122 million ARO revision at Millstone nuclear
power station, $60 million of impairment charges associated with
certain nonregulated renewable natural gas facilities and a $47
million charge in connection with the settlement of an
agreement.
(millions, except per share amounts)
1Q24
2Q24
3Q24
4Q24
YTD 2024(5)
Reported earnings
$
441
$
580
$
958
$
145
$
2,124
Adjustments to reported earnings(1):
Pre-tax loss (income)
49
34
(151
)
478
410
Income tax (benefit)
(5
)
(47
)
29
(119
)
(142
)
44
(13
)
(122
)
359
268
Operating earnings (non-GAAP)
$
485
$
567
$
836
$
504
$
2,392
Common shares outstanding (average,
diluted)
837.6
838.3
839.3
842.2
839.4
Reported earnings per share(2)
$
0.50
$
0.66
$
1.12
$
0.15
$
2.44
Adjustments to reported earnings per
share(2)
0.05
(0.01
)
(0.14
)
0.43
$
0.33
Operating earnings (non-GAAP) per
share(2)
$
0.55
$
0.65
$
0.98
$
0.58
$
2.77
(1) Adjustments to reported earnings
are reflected in the following table:
1Q24
2Q24
3Q24
4Q24
YTD 2024
Pre-tax loss
(income):
Net loss (gain) on NDT funds
$
(266
)
$
(84
)
$
(168
)
$
(47
)
$
(565
)
Mark-to-market impact of economic hedging
activities
108
104
(137
)
123
198
Mark-to-market of pension and OPEB
plans
320
16
(6
)
42
372
Discontinued operations
(172
)
(83
)
24
3
(228
)
Business review costs
29
15
7
54
105
Net loss (gain) on real estate
dispositions
-
17
1
5
23
Regulated asset retirements and other
charges
(17
)
16
101
176
276
Nonregulated asset impairments and other
charges
47
33
27
122
229
$
49
$
34
$
(151
)
$
478
$
410
Income tax expense
(benefit):
Tax effect of above adjustments to
reported earnings(3)
504
(71
)
379
(119
)
693
Deferred taxes associated with sale of gas
distribution operations(4)
(509
)
24
(350
)
-
(835
)
$
(5
)
$
(47
)
$
29
$
(119
)
$
(142
)
(2)
The calculation of reported and operating
earnings per share on a consolidated basis utilizes shares
outstanding on a diluted basis with all dilutive impacts, primarily
consisting of potential shares which had not yet been issued,
reflected in the Corporate and Other segment. The calculation of
operating earnings per share for the three months ended June 30,
2024 and for the three and twelve months ended December 31, 2024
excludes a deemed dividend of $9 million, $1 million and $10
million, respectively, associated with the Company's repurchase of
certain Series B preferred stock. During each quarter of 2024, the
calculation of reported and operating earnings per share includes
the impact of preferred dividends associated with Series B
preferred stock of $9 million, $8 million, $4 million and $3
million, respectively. During each quarter of 2024, the calculation
of reported and operating earnings per share includes the impact of
preferred dividends associated with Series C preferred stock of $11
million. See Forms 10-Q and 10-K for additional information.
(3)
Excludes a $578 million tax benefit on
non-deductible goodwill associated with the sale of gas
distribution operations. Income taxes for individual pre-tax items
include current and deferred taxes using a transactional effective
tax rate. For interim reporting purposes, calculation of such
amounts may be adjusted in connection with the calculation of the
Company’s year-to-date income tax provision based on its estimated
annual effective tax rate.
(4)
Represents the reversal of previously
established deferred taxes related to the basis in the stock of the
gas distribution operations.
(5)
YTD EPS may not equal sum of quarters due
to share count differences.
Schedule 3 - Reconciliation of 2023 Reported Earnings to
Operating Earnings
2023 Earnings (Twelve months ended December 31, 2023)
The $1.8 billion pre-tax net income of the adjustments included
in 2023 reported earnings, but excluded from operating earnings, is
primarily related to the following items:
- $1.2 billion of net benefit from discontinued operations,
primarily related to a $722 million benefit associated with the
sale of the remaining non-controlling interest in Cove Point
(including $626 million net gain on sale) and a $544 million
benefit associated with the gas distribution operations expected to
be sold to Enbridge (inclusive of a $286 million impairment charge
associated with the East Ohio and Questar Gas Transactions).
- $1.2 billion net market benefit primarily associated with $411
million from nuclear decommissioning trusts (NDT), $758 million in
economic hedging activities and $36 million on pension and other
postretirement benefit (OPEB) plans.
- $370 million of regulated asset retirements and other charges
primarily associated with the settlement of Virginia Power’s 2021
triennial review.
- $118 million of nonregulated asset impairments and other
charges primarily related to an ARO revision at Millstone nuclear
power station in connection with the expected approval of an
operating license extension.
(millions, except per share amounts)
1Q23
2Q23
3Q23
4Q23
YTD 2023(5)
Reported earnings
$
972
$
575
$
153
$
331
$
2,031
Adjustments to reported earnings(1):
Pre-tax loss (income)
(590
)
(346
)
(778
)
(83
)
(1,797
)
Income tax (benefit)
124
73
1,272
12
1,481
(466
)
(273
)
494
(71
)
(316
)
Operating earnings (non-GAAP)
$
506
$
302
$
647
$
260
$
1,715
Common shares outstanding (average,
diluted)
835.5
836.2
836.8
837.3
836.5
Reported earnings per share(2)
$
1.14
$
0.66
$
0.16
$
0.37
$
2.33
Adjustments to reported earnings per
share(2)
(0.56
)
(0.32
)
0.59
(0.08
)
(0.38
)
Operating earnings (non-GAAP) per
share(2)
$
0.58
$
0.34
$
0.75
$
0.29
$
1.95
(1) Adjustments to reported earnings
are reflected in the following table:
1Q23
2Q23
3Q23
4Q23
YTD 2023
Pre-tax loss
(income):
Discontinued operations
$
(337
)
$
(206
)
$
(683
)
$
48
$
(1,178
)
Net loss (gain) on NDT funds
(123
)
(158
)
98
(228
)
(411
)
Mark-to-market impact of economic hedging
activities
(272
)
(58
)
(287
)
(141
)
(758
)
Mark-to-market of pension and OPEB
plans
-
-
-
(36
)
(36
)
Regulated asset retirements and other
charges
61
97
61
151
370
Nonregulated asset impairments and other
charges
-
-
-
118
118
Net loss (gain) on real estate
dispositions
81
(21
)
16
(5
)
71
Storm damage and restoration costs
(income)
-
-
12
(2
)
10
Business review costs
-
-
5
12
17
$
(590
)
$
(346
)
$
(778
)
$
(83
)
$
(1,797
)
Income tax expense
(benefit):
Tax effect of above adjustments to
reported earnings(3)
124
73
333
116
646
Deferred taxes associated with sale of gas
distribution operations(4)
-
-
939
(104
)
835
$
124
$
73
$
1,272
$
12
$
1,481
(2)
The calculation of reported and operating
earnings per share on a consolidated basis utilizes shares
outstanding on a diluted basis with all dilutive impacts, primarily
consisting of potential shares which had not yet been issued,
reflected in the Corporate and Other segment. During each quarter
of 2023, the calculation of reported and operating earnings per
share includes the impact of preferred dividends associated with
preferred stock of $9 million (Series B) and $11 million (Series
C). See Forms 10-Q and 10-K for additional information.
(3)
Income taxes for individual pre-tax items
include current and deferred taxes using a transactional effective
tax rate. For interim reporting purposes, calculation of such
amounts may be adjusted in connection with the calculation of the
Company’s year-to-date income tax provision based on its estimated
annual effective tax rate.
(4)
Represents deferred taxes related to the
basis in the stock of the gas distribution operations expected to
be sold to Enbridge that will reverse upon the completion of each
sale.
(5)
YTD EPS may not equal sum of quarters due
to share count difference.
Schedule 4 - Reconciliation of 4Q24 Earnings to 4Q23
Preliminary, Unaudited
Three Months Ended
Twelve Months Ended
December 31,
December 31,
2024 vs. 2023
2024 vs. 2023
(millions, except per share amounts)
Increase / (Decrease)
Increase / (Decrease)
Reconciling Items
Amount
EPS
Amount
EPS
Change in reported earnings
(GAAP)
$
(186
)
$
(0.22
)
$
93
$
0.11
Change in Pre-tax loss (income)(1)
561
0.67
2,207
2.64
Change in Income tax(1)
(131
)
(0.16
)
(1,623
)
(1.93
)
Adjustments to reported
earnings
$
430
$
0.51
$
584
$
0.71
Change in consolidated operating
earnings (non-GAAP)
$
244
$
0.29
$
677
$
0.82
Dominion Energy Virginia
Weather
$
11
$
0.01
$
92
$
0.11
Customer usage and other factors
(19
)
(0.02
)
(6
)
(0.01
)
Customer-elected rate impacts
18
0.02
63
0.08
Rider equity return
112
0.13
349
0.42
Impact of 2023 Virginia legislation
-
-
(142
)
(0.17
)
Storm damage and service restoration
(4
)
-
(12
)
(0.01
)
Planned outage costs
(14
)
(0.02
)
(24
)
(0.03
)
Nuclear production tax credit
36
0.04
89
0.11
Depreciation and amortization
(1
)
-
(2
)
-
Electric capacity
(2
)
-
(19
)
(0.02
)
Interest expense, net
(1
)
-
39
0.05
Sale of noncontrolling interest
(50
)
(0.06
)
(50
)
(0.06
)
Other
(15
)
(0.02
)
(50
)
(0.07
)
Share dilution
-
-
-
(0.01
)
Change in contribution to operating
earnings
$
71
$
0.08
$
327
$
0.39
Dominion Energy South Carolina
Weather
$
5
$
0.01
$
37
$
0.04
Customer usage and other factors
13
0.02
27
0.03
Customer-elected rate impacts
4
-
4
-
Base & RSA rate case impacts
35
0.04
41
0.05
Depreciation and amortization
(2
)
-
(12
)
(0.01
)
Interest expense, net
(7
)
(0.01
)
(21
)
(0.03
)
Other
(21
)
(0.03
)
(55
)
(0.06
)
Share dilution
-
-
-
-
Change in contribution to operating
earnings
$
27
$
0.03
$
21
$
0.02
Contracted Energy
Margin
$
34
$
0.04
$
103
$
0.12
Planned Millstone outages(2)(3)
36
0.04
119
0.14
Unplanned Millstone outages(2)
8
0.01
16
0.02
Depreciation and amortization
4
0.01
22
0.03
Interest expense, net
4
0.01
14
0.02
Other
(13
)
(0.02
)
(14
)
(0.02
)
Share dilution
-
-
-
-
Change in contribution to operating
earnings
$
73
$
0.09
$
260
$
0.31
Corporate and Other
Interest expense, net
$
69
$
0.08
$
27
$
0.03
Equity method investments
(4
)
-
(11
)
(0.01
)
Pension and other postretirement benefit
plans
12
0.01
45
0.05
Corporate service company costs
23
0.03
47
0.06
Other
(27
)
(0.03
)
(39
)
(0.05
)
Share dilution
-
-
-
0.02
Change in contribution to operating
earnings
$
73
$
0.09
$
69
$
0.10
Change in consolidated operating
earnings (non-GAAP)
$
244
$
0.29
$
677
$
0.82
Change in adjustments included in reported
earnings(1)
$
(430
)
$
(0.51
)
$
(584
)
$
(0.71
)
Change in consolidated reported
earnings
$
(186
)
$
(0.22
)
$
93
$
0.11
(1)
Adjustments to reported earnings are
included in Corporate and Other segment reported GAAP earnings.
Refer to Schedules 2 and 3 for details, or find "GAAP
Reconciliation" in the Earnings Release Kit on Dominion Energy's
website at investors.dominionenergy.com.
(2)
Includes earnings impact from outage costs
and lower energy margins.
(3)
Includes the effect of a planned refueling
outage in the second and fourth quarter of 2023 with no such outage
in the second quarter of 2024.
NOTE: Figures may not sum due to rounding.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250211111291/en/
For further information: Media: Ryan Frazier, (804) 836-2083 or
C.Ryan.Frazier@dominionenergy.com; Investor Relations: David
McFarland, (804) 819-2438 or
David.M.McFarland@dominionenergy.com
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