Dominion Energy Reports Mixed Q3 Results and Narrowed Full-Year Outlook

Dominion Energy (NYSE:D) shares rose around 2% intra-day today after the company reported third-quarter earnings that beat analyst estimates but missed revenue expectations. The utility posted adjusted earnings per share of $0.98, above the projected $0.93, while revenue reached $3.94 billion, falling short of the $4.18 billion consensus.

The company tightened its full-year 2024 operating earnings guidance to a range of $2.68 to $2.83 per share, aligning closely with the analyst consensus of $2.77. CEO Robert M. Blue highlighted Dominion’s commitment to its regulated investment strategy, aimed at fulfilling customer needs and bolstering operational stability.

Dominion Energy Virginia, its largest segment, reported a notable increase in operating earnings to $662 million, up from $535 million the previous year, thanks to rider equity returns and nuclear production tax credits. The company also reaffirmed its 2025 earnings guidance of $3.25 to $3.54 per share.