Dominion Energy Reports Mixed Q3 Results, Shares Drop Pre-Market

RICHMOND - Dominion Energy (NYSE:D) reported third-quarter earnings that exceeded expectations but fell short on revenue figures, tightening its year-end guidance range. The company’s shares fell by 1.24% following the announcement.

Dominion Energy announced adjusted earnings of $0.98 per share for the third quarter, surpassing analysts' expectations of $0.93. However, the reported revenue of $3.94 billion came in below the consensus estimate of $4.18 billion.

The company narrowed its operating income guidance range for 2024 to between $2.68 and $2.83 per share, which is comparable to the analysts' consensus estimate of $2.77 per share.

Robert M. Blue, Chairman, President, and CEO of Dominion Energy, stated, "We delivered solid third-quarter results in line with our expectations. We remain focused on implementing our regulated investment strategy to meet our customers' needs."

During the quarter, operating income for Dominion Energy Virginia, the company’s largest segment, rose to $662 million from $535 million in the same period last year. This increase was primarily driven by price increases in equity returns and nuclear production tax credits.

The company reaffirmed its operating income guidance range for 2025 to between $3.25 and $3.54 per share.