Dominion Energy reported fourth‑quarter 2025 revenue of $4.09 billion, a 20% year‑over‑year increase, and operating earnings per share of $0.68, up from $0.58 in the same quarter a year earlier. The $0.68 figure beat the $0.64 consensus estimate but fell short of the $0.69 estimate that many analysts had cited, reflecting a modest miss in earnings expectations despite strong revenue growth.
Net income rose to $567 million from $134 million in Q4 2024, driven largely by higher rider‑equity returns and a surge in data‑center demand in Virginia. The data‑center boom has pushed the company’s regulated‑service mix toward higher‑margin contracts, while operational efficiencies in the Virginia segment helped offset the impact of increased interest expense and charges related to the Coastal Virginia Offshore Wind (CVOW) project.
For fiscal 2026, Dominion maintained its operating earnings‑per‑share guidance at $3.45 to $3.69, with a midpoint of $3.57. The guidance includes $0.07 per share of RNG 45Z credits and is anchored to a 5%–7% annual growth outlook through 2030, a range that management indicated it expects to bias toward the upper end in 2028‑2030. The guidance reflects confidence in continued data‑center demand and the expansion of the company’s offshore wind and solar portfolios.
Management highlighted the company’s resilience in regulated markets and the impact of data‑center demand. "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 CEO Bob Blue. The company’s focus on regulated growth and renewable energy projects is evident in the sustained earnings growth and the forward guidance that balances optimism with realistic expectations of headwinds such as CVOW unrecoverable costs and rising interest expense.
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