Dominion Energy Stock Earnings Reports

Dominion reported Q3 2025 operating earnings of $1.06/share (GAAP $1.16), driven by regulated investment growth, higher sales and a DESC rate case settlement, partially offset by worse-than-normal weather, higher DD&A and financing costs. Management narrowed full-year 2025 operating guidance to $3.33–$3.48/share (midpoint preserved at $3.40) and reaffirmed all other guidance. The Coastal Virginia Offshore Wind (CVOW) project is roughly two-thirds complete, with monopiles and much substructure work substantially advanced; first turbine installation is expected late next month and first power in late Q1 2026. Total CVOW project cost is updated to $11.2 billion (including $206M unused contingency), and Dominion recorded a modest after-tax charge (~$50M) for costs not recoverable under existing customer/partner cost-sharing arrangements. The Jones Act vessel Charybdis completed trials but returned a punch list of quality/documentation items; management expects it cleared to install turbines in November and says modest slip of a few turbines into early 2027 would not materially affect first power timing or finances. Data center demand remains robust (≈47 GW in various stages of contracting, ~9.8 GW under ESAs), supporting higher sales and future capital deployment. Dominion plans a comprehensive capital forecast through 2030 on the Q4 call and emphasizes balance-sheet conservatism (tracking to ~15% FFO/debt target) while derisking future ATM equity. Regulatory and transmission development activity is ongoing (PJM open window, IRP filings, Chesterfield hearing), and the company continues to stress customer affordability, safety improvements, and on-time delivery of its growth program.