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Dominion Energy(D) - 2023 Q2 - Earnings Call Transcript
2023-08-04 16:32
Dominion Energy, Inc. (NYSE:D) Q2 2023 Earnings Conference Call August 4, 2023 10:00 AM ET Company Participants David McFarland - Vice President, Investor Relations Bob Blue - President, Chairman, and Chief Executive Officer Steven Ridge - Senior Vice President, Chief Financial Officer Conference Call Participants Shar Pourreza - Guggenheim Partners Jeremy Tonet - JPMorgan Chase and Company Carly Davenport - Goldman Sachs & Co. Operator Welcome to the Dominion Energy Second Quarter Earnings Conference Call. ...
Dominion Energy(D) - 2023 Q2 - Earnings Call Presentation
2023-08-04 14:10
Q2 2023 earnings call August 4, 2023 The information in this presentation was prepared as of August 4, 2023. Dominion Energy undertakes no obligation to update any forward-looking information statement to reflect developments after the statement is made. Projections or forecasts shown in this document are based on the assumptions listed in this document and are subject to change at any time. Employee safety Dominion Energy Committed to current credit profile and dividend Credit metrics that meet and exceed ...
Dominion Energy(D) - 2023 Q2 - Quarterly Report
2023-08-03 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | FORM 10-Q | | | | --- | --- | --- | | (Mark one) | | | | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | For the quarterly period ended June 30, 2023 | | | | or | | | | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | For the transition period from | to | | | Commission File Exact name of registrants as specified in their charters, addr ...
Dominion Energy(D) - 2023 Q1 - Earnings Call Transcript
2023-05-05 17:09
Dominion Energy, Inc. (NYSE:D) Q1 2023 Earnings Conference Call May 5, 2023 10:00 AM ET Company Participants David McFarland - Vice President of Investor Relations Robert Blue - Chairman, President & Chief Executive Officer Steven Ridge - Senior Vice President & Chief Financial Officer Conference Call Participants Shahriar Pourreza - Guggenheim Partners Steve Fleishman - Wolfe Research Jeremy Tonet - JPMorgan Operator Welcome to the Dominion Energy First Quarter Earnings Conference Call. [Operator Instructi ...
Dominion Energy(D) - 2023 Q1 - Quarterly Report
2023-05-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q | (Mark one) | | --- | | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | For the quarterly period ended March 31, 2023 | | or | | ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | For the transition period from to | | Commission File Exact name of registrants as specified in their charters, address of I.R.S. Employer | | Number principal ...
Dominion Energy(D) - 2022 Q4 - Annual Report
2023-02-20 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | FORM | | | | 10-K | | --- | --- | --- | --- | --- | | (Mark One) | | | | | | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | ☒ | | For the fiscal year ended December 31, 2022 | | | | | | OR | | | | | | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | | ☐ | | For the transition period from to | | | | | | I.R.S. Employer | | | | | | Commission Fil ...
Dominion Energy(D) - 2022 Q4 - Earnings Call Transcript
2023-02-08 17:44
Dominion Energy, Inc. (NYSE:D) Q4 2022 Results Conference Call February 8, 2023 10:00 AM ET Company Participants David McFarland - VP, IR Bob Blue - Chair, President and CEO Steven Ridge - SVP and CFO Diane Leopold - EVP and COO Conference Call Participants Shahriar Pourreza - Guggenheim Partners Steve Fleishman - Wolfe Research Jeremy Tonet - JPMorgan Durgesh Chopra - Evercore ISI Ross Fowler - UBS Operator Good day, everyone, and welcome to the Dominion Energy Fourth Quarter 2022 Earnings Conference Call. ...
Dominion Energy(D) - 2022 Q3 - Earnings Call Presentation
2022-11-04 19:50
Q3 2022 earnings call November 4, 2022 Regulated Decarbonization Important note for investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the business and operations of Dominion Energy. We have used the words "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "outl ...
Dominion Energy(D) - 2022 Q3 - Earnings Call Transcript
2022-11-04 16:15
Dominion Energy, Inc. (NYSE:D) Q3 2022 Earnings Conference Call November 4, 2022 10:00 AM ET Company Participants David McFarland - Vice President, Investor Relations Bob Blue - Chairman, President & Chief Executive Officer Jim Chapman - Executive Vice President & Chief Financial Officer Diane Leopold - Executive Vice President & Chief Operating Officer. Conference Call Participants Shar Pourreza - Guggenheim Partners Ross Fowler - UBS Steve Fleishman - Wolfe Research Jeremy Tonet - JPMorgan Operator Welcom ...
Dominion Energy(D) - 2022 Q3 - Quarterly Report
2022-11-03 16:00
Financial Performance - Duke Energy reported a net income of $1.2 billion for the last quarter, representing a 15% increase year-over-year[14]. - The company achieved an earnings per share (EPS) of $1.50, up from $1.30 in the same quarter last year, reflecting a 15% growth[14]. - Net income attributable to Dominion Energy for the three months ended September 30, 2022, was $778 million, compared to $666 million for the same period in 2021, reflecting a 16.8% increase[23]. - The company reported net income from continuing operations of $781 million for the three months ended September 30, 2022, compared to $601 million for the same period in 2021, a 30% increase[20]. - For the three months ended September 30, 2022, net income attributable to Dominion Energy from continuing operations was $761 million, compared to $573 million for the same period in 2021, representing a 32.8% increase[100]. - For the nine months ended September 30, 2022, net income attributable to Dominion Energy from continuing operations was $1,021 million, compared to $1,828 million for the same period in 2021, indicating a decrease of 44.2%[100]. - Net income for the nine months ended September 30, 2022, was $975 million, down from $1,344 million for the same period in 2021, reflecting a decrease of 27.4%[66]. Revenue and Expenses - Operating revenue for the three months ended September 30, 2022, was $4,386 million, up from $3,176 million for the same period in 2021, representing a 38.1% increase[20]. - Total operating revenue for Dominion Energy for the three months ended September 30, 2022, was $4,386 million, an increase of 38.0% from $3,176 million in 2021[90]. - Total operating revenue for the nine months ended September 30, 2022, was $7,217 million, up 30% from $5,547 million in 2021[47]. - Total operating expenses for the nine months ended September 30, 2022, were $10,531 million, compared to $8,002 million for the same period in 2021, indicating a 31.5% increase[20]. - Total operating expenses for the nine months ended September 30, 2022, were $5,617 million, an increase of 54% from $3,651 million in 2021[47]. Customer and Market Growth - Duke Energy's customer base grew by 2% to 7.8 million customers across its service territories[15]. - Dominion Energy's regulated electric sales to residential customers increased to $1,609 million in Q3 2022, a 25.6% rise from $1,281 million in Q3 2021[90]. - Nonregulated electric sales for Dominion Energy rose to $345 million in Q3 2022, compared to $271 million in Q3 2021, reflecting a 27.3% increase[90]. Investments and Future Plans - The company plans to invest $25 billion over the next five years in renewable energy projects and grid modernization[16]. - Duke Energy aims to reduce greenhouse gas emissions by 50% by 2030 compared to 2005 levels[17]. - The company is expanding its solar capacity by adding 1,000 MW of new solar projects by 2025[16]. - Dominion Energy's investment in nonregulated solar projects includes acquisitions with costs of $138 million for Pumpkinseed and $225 million for Bookers, both located in Virginia[190]. - Virginia Power is pursuing renewable generation projects totaling approximately $1.4 billion, expected to be operational between 2022 and 2023[206]. Regulatory and Compliance - The company has initiated a new rate adjustment clause to recover costs related to renewable energy projects, which is projected to impact customer bills by approximately 5%[16]. - Virginia Power filed for a fuel factor increase to recover an estimated $2.3 billion in projected fuel expenses for the rate year starting July 1, 2022[205]. - The proposed fuel rate represents a revenue increase of $1.8 billion based on projected kilowatt-hour sales for the period[205]. - Virginia Power's regulatory assets increased to $5.654 billion as of September 30, 2022, up from $4.980 billion at December 31, 2021[199]. Debt and Liabilities - Total current liabilities increased to $12,172 million as of September 30, 2022, compared to $8,673 million at December 31, 2021, representing a 40.5% increase[31]. - Long-term debt rose to $38,162 million as of September 30, 2022, up from $37,426 million at December 31, 2021, indicating a 2% increase[31]. - Total liabilities reached $74,962 million as of September 30, 2022, compared to $70,672 million at December 31, 2021, reflecting a 6.4% increase[31]. - The company issued $2,338 million in long-term debt during the nine months ended September 30, 2022[66]. Cash Flow and Liquidity - The company reported net cash provided by operating activities for the nine months ended September 30, 2022, was $2,671 million, down 24.4% from $3,535 million in 2021[43]. - Cash provided by operating activities decreased to $1,394 million for the nine months ended September 30, 2022, compared to $2,240 million in 2021, a decline of 37.9%[66]. - Cash, restricted cash, and equivalents at the end of the period were $340 million, an increase from $267 million at the end of 2021[43]. Asset Management - Total assets as of September 30, 2022, were $103,535 million, an increase from $99,590 million as of December 31, 2021[26]. - The total assets of the company as of September 30, 2022, were $51,988 million, an increase from $47,932 million at the end of 2021[53]. - Dominion Energy's total decommissioning trust funds amounted to $5.590 billion, with total unrealized gains of $2.210 billion and total unrealized losses of $224 million[170]. Derivative and Fair Value Measurements - The company reported a gross liability of $660 million for over-the-counter commodity contracts as of September 30, 2022[141]. - Dominion Energy's total derivative assets amounted to $2,469 million as of September 30, 2022, with $596 million classified as current assets and $1,873 million as noncurrent assets[150]. - The fair value of derivatives not under hedge accounting was $1,873 million, while those under hedge accounting were valued at $596 million[150]. Miscellaneous - The company recognized a pre-tax gain of $8 million from the sale of Hope, which closed in August 2022, but recorded an after-tax loss of $89 million due to a write-off of goodwill[87]. - Dominion Energy recorded charges of $60 million ($45 million after-tax) for dismantling certain retired generating units for the nine months ended September 30, 2022[83]. - The company expects to incur additional losses from Atlantic Coast Pipeline as it completes wind-down activities, with a recorded liability of $119 million as of September 30, 2022[184].