Oct 30, 2026, 7:31 AM ETUtilities

Dominion Energy — Third Quarter 2026 Earnings Summary

DDOMINION ENERGY INC

Financial Performance

GAAP net income for the three months ended September 30, 2026, was $1.2 billion ($1.30 per share), compared to $1.0 billion ($1.16 per share) in the same period in 2025.
Operating earnings (non-GAAP) for the three months ended September 30, 2026, were $1.1 billion ($1.28 per share), compared to $921 million ($1.06 per share) in the same period in 2025.
Consolidated operating revenue for the three months ended September 30, 2026, was $5.617 billion, up from $4.527 billion in the prior year period.
Year-to-date (nine months ended September 30, 2026) GAAP net income attributable to Dominion Energy was $2.121 billion ($2.37 per share), a decrease from $2.431 billion ($2.81 per share) in the prior year period.
Year-to-date operating earnings (non-GAAP) for the nine months ended September 30, 2026, were $2.698 billion ($3.02 per share), an increase of $325 million ($0.28 per share) from $2.373 billion ($2.74 per share) in the prior year period.
Total operating expenses for the three months ended September 30, 2026, were $3.775 billion, compared to $3.188 billion in the prior year period.
Adjustments to reported earnings for the three months ended September 30, 2026, totaled $21 million (after-tax), driven by a $37 million pre-tax loss on nuclear decommissioning trust funds and hedging activities, offset by other items.

The company expects to finish in the top half of its 2026 operating earnings guidance range of $3.45 to $3.69 per share.
Dominion Energy reaffirmed its existing operating earnings, credit, dividend, and long-term growth guidance.
Management noted that reported earnings may differ from operating earnings due to items such as mark-to-market impacts of economic hedging, nuclear decommissioning trust fund gains/losses, pension plan impacts, acquisitions, divestitures, and extreme weather events.
The company stated it cannot estimate the aggregate impact of these items on future reported earnings and therefore cannot provide a corresponding GAAP equivalent for its operating earnings guidance.

Dominion Energy Virginia: Operating earnings increased by $183 million ($0.19 per share) year-over-year for the quarter, driven by a $137 million benefit from the 2025 Biennial Review impacts and $112 million from the rider equity return.
Dominion Energy South Carolina: Operating earnings increased by $62 million ($0.06 per share) year-over-year for the quarter, supported by $46 million in base and RSA rate case impacts.
Contracted Energy: Operating earnings decreased by $31 million ($0.04 per share) year-over-year for the quarter, impacted by $43 million in renewable energy investment tax credits and $10 million in interest expense.
Corporate and Other: Operating earnings increased by $4 million ($0.01 per share) year-over-year for the quarter.
The company reported a $95 million charge in the nine-month period related to Virginia Power's share of costs not expected to be recovered from customers on the Coastal Virginia Offshore Wind (CVOW) Commercial project.
The company reported an $820 million charge in the nine-month period associated with nonregulated renewable natural gas facilities and a $79 million charge for certain nonregulated solar generation facilities.

Dominion Energy provides regulated electricity to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas to 500,000 customers in South Carolina.
The company is a leading developer and operator of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England.
The press release highlights risks regarding increased competition in the company's industries and changes in demand due to new data centers, particularly in Loudoun County, Va.

Significant risks include the proposed merger with NextEra Energy, including the ability to obtain regulatory approvals and potential disruptions to business operations, hiring, and relationships with regulators and customers.
Risks associated with the CVOW commercial project include construction timeline delays, cost overruns, and the ability to recover costs from customers.
The company faces risks related to unusual weather conditions, extreme weather events, and natural disasters affecting energy sales and commodity prices.
Regulatory and legislative risks include changes in federal, state, and local tax laws, environmental regulations, and rules for RTOs and ISOs.
Risks include the inability to complete planned construction projects within anticipated time frames, unplanned outages, and the technological and economic feasibility of clean energy technologies like battery storage and carbon capture.

Management reaffirmed confidence in the company's long-term growth and credit profile.
The press release emphasizes that operating earnings are the primary performance measurement used for public communications, internal budgeting, and incentive compensation plans.
Management believes operating earnings provide a more meaningful representation of the company's fundamental earnings power.

No specific analyst questions and answers are included in the provided text; the release only announces the date and time of the earnings call where management will discuss results.

The company will host a third-quarter 2026 earnings call on October 30, 2026, at 11 a.m. ET, with a live webcast and telephonic replay available.
The release contains forward-looking statements subject to risks and uncertainties, including those detailed in the company's Form 10-Q and Form 10-K filings.
The calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series C preferred stock of $11 million per quarter.
The company disclosed a $114 million noncontrolling interest in net income for the three months ended September 30, 2026, compared to $22 million in the prior year period.