Dominion Energy, Inc. has entered into an underwriting agreement for the sale of $825 million in 2025 Series A Junior Subordinated Notes and $700 million in 2025 Series B Junior Subordinated Notes, both due in 2056. These notes are registered under Rule 415 of the Securities Act of 1933 and were previously registered under a registration statement that became effective on February 21, 2023.
The Junior Subordinated Notes will be issued under the Nineteenth and Twentieth Supplemental Indentures to the Company’s existing subordinated indenture. Relevant documents, including the underwriting agreement and supplemental indentures, have been filed as exhibits to the Form 8-K. This issuance may impact the company's financial structure and liquidity position.
linkAug 06, 2025 09:42:41
Dominion Energy announced its preliminary unaudited earnings for the second quarter of 2025, reporting a GAAP net income of $760 million, or $0.88 per share, an increase from $563 million, or $0.64 per share, in the same quarter of 2024. The company also reported operating earnings of $649 million, or $0.75 per share, compared to $567 million, or $0.65 per share, in the prior year. The earnings reflect adjustments related to nuclear decommissioning trust funds and economic hedging activities.
The company reaffirmed its full-year 2025 operating earnings guidance, expecting a range between $3.28 and $3.52 per share, consistent with previous financial guidance provided in its fourth quarter 2024 earnings call. Dominion Energy serves 3.6 million electricity customers and 500,000 natural gas customers across Virginia, North Carolina, and South Carolina, and is a major developer of offshore wind and solar power, aiming to provide reliable and increasingly clean energy.
linkAug 01, 2025 07:31:29
Dominion Energy reported a GAAP net income of $2.44 per share for the full year 2024, an increase from $2.33 per share in 2023. The company's operating earnings also rose, reaching $2.77 per share, compared to $1.95 per share the previous year. The fourth quarter of 2024 saw a decline in GAAP net income to $0.15 per share from $0.37 per share in the same quarter of 2023, but operating earnings improved significantly to $0.58 per share from $0.29 per share. The company highlighted its ability to deliver reliable and clean energy despite facing adverse weather conditions and achieved nearly record employee safety performance during the year.
On the negative side, the fourth quarter's reported net income dropped sharply from the previous year, reflecting a decrease in overall profitability. Additionally, the company faced significant pre-tax losses in adjustments to reported earnings, totaling $410 million, primarily due to various operational challenges and economic conditions. Despite narrowing its guidance for 2025 operating earnings to a range of $3.28 to $3.52 per share, Dominion Energy is still navigating uncertainties related to market conditions and regulatory factors that could impact future earnings.
linkFeb 12, 2025 07:36:27
Dominion Energy reported that the Coastal Virginia Offshore Wind (CVOW) project is approximately 50% complete and remains on track for completion by the end of 2026. The project has achieved significant construction milestones, including the installation of the first 16 transition pieces, and is expected to create 2,000 jobs and generate $2 billion in economic activity. The average impact on residential customer bills is projected to be an increase of 43 cents per month, with cost-sharing mechanisms in place to protect customers and shareholders.
However, the estimated total project costs have risen from $9.8 billion to $10.7 billion, primarily due to higher network upgrade costs assigned by the regional electric grid operator, PJM. This marks a 9% increase, the first since the project's original budget submission in November 2021. Although costs for other project components have remained stable, Dominion Energy anticipates a $100 million charge in Q4 2024 as part of a financing agreement with Stonepeak, which will share in the increased costs that are not recoverable from customers.
linkFeb 03, 2025 16:29:24
Dominion Energy announced a notable increase in its third-quarter 2024 net income, reporting $954 million or $1.12 per share, compared to $157 million or $0.16 per share in the same quarter of 2023. The operating earnings for the same period also rose to $835 million or $0.98 per share, up from $651 million or $0.75 per share in the previous year. The company has narrowed its full-year 2024 operating earnings guidance to a range of $2.68 to $2.83 per share, maintaining the midpoint at $2.75 per share.
On the downside, while the overall financial performance improved, there were significant adjustments impacting the reported earnings, including losses from nuclear decommissioning trust funds and economic hedging activities. Additionally, the company faced a net loss from discontinued operations, further complicating the financial picture. Dominion Energy's operating expenses remained substantial, and the company continues to navigate regulatory and market challenges, which could affect future performance.
linkNov 01, 2024 07:32:47
Dominion Energy announced a second-quarter net income of $0.65 per share, slightly down from $0.67 in 2023. However, operating earnings improved significantly from $0.35 to $0.65 per share. The company reaffirmed its financial guidance for 2024 and 2025, indicating stability in earnings and dividends. Overall, the results suggest a positive outlook despite the slight dip in net income.
linkAug 01, 2024 07:32:18
Steven D. Ridge, Executive VP and CFO, signs the report as required by the Securities Exchange Act of 1934 on behalf of the registrant on June 3, 2024.
linkJun 03, 2024 16:15:31
Dominion Energy reported Q1 2024 net income of $0.78 per share, affirming financial guidance for 2024 and 2025. Operating earnings were $0.55 per share. The company uses operating earnings as a primary performance measure and aims for Net Zero emissions by 2050. Earnings call scheduled for May 2, 2024, with webcast details provided. Dominion Energy serves 6 million customers across 15 states with a focus on reliable and clean energy.
linkMay 02, 2024 07:33:52
Dominion Energy sells 50% interest in Coastal Virginia Offshore Wind project to Stonepeak, enhancing financial stability. Stonepeak to fund half of construction costs, reducing Dominion Energy's financial burden. Transaction expected to improve credit profile and benefit customers. Project on track to generate clean energy for 660,000 homes by late 2026.
linkFeb 22, 2024 07:55:55
Dominion Energy reports positive fourth-quarter and full-year earnings. The company affirms commitments and announces a partnership to sell a noncontrolling interest in an offshore wind project. Updates on the project's progress are shared, with key suppliers featured in a video. A business review investor meeting is scheduled to provide strategic and financial updates. The company's focus on operating earnings as a primary performance measurement is highlighted, aiming to offer a more accurate view of its fundamental earnings power.
linkFeb 22, 2024 07:37:30