Core Viewpoint - Dominion Energy is experiencing a bullish trend, supported by investments in infrastructure and a focus on renewable energy, alongside rising demand from its expanding customer base [1][10]. Group 1: Financial Performance - Dominion Energy's stock closed at $56.87 on February 24, with a one-year share gain of 19.4%, outperforming the S&P 500's growth of 19.1% and the Zacks Utilities sector's rise of 18.5% [5]. - The company expects earnings per share (EPS) of $3.28-$3.52 for 2025, with Zacks Consensus Estimates indicating increases of 0.6% and 0.3% for 2025 and 2026, respectively [13]. - The current annual dividend is $2.67, yielding 4.65%, which is better than the industry's yield of 3.2% [14]. Group 2: Strategic Initiatives - Dominion Energy plans to invest $50 billion from 2025 to 2029, with approximately 83% of this investment aimed at strengthening infrastructure and increasing clean energy production [10]. - The company is upgrading its electric infrastructure by installing smart meters and undergrounding 4,000 miles of distribution lines, enhancing service reliability and efficiency [12]. - The company has divested some non-core assets to focus on regulated infrastructure, which is expected to boost operational stability [9]. Group 3: Market Position and Competitiveness - Dominion Energy's trailing 12-month return on equity (ROE) is 9%, lower than the industry average of 10.87%, indicating less effective utilization of shareholders' funds [19]. - The stock is currently valued at a premium compared to its industry on a forward 12-month P/E basis [16]. - The company has connected 15 data centers in 2024 and expects to connect another 15 in 2025, driven by robust demand growth from economic expansion and electrification [11].

Core Insights - The article emphasizes the importance of utilizing Zacks Premium for investors to enhance their stock market strategies and confidence in investing [1][2] Zacks Style Scores - Zacks Style Scores are indicators designed to help investors select stocks with the highest potential to outperform the market within a 30-day timeframe [3] - Stocks are rated from A to F based on value, growth, and momentum characteristics, with A being the highest score [3] Value Score - The Value Style Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, and Price/Sales to find attractive investment opportunities [4] Growth Score - The Growth Style Score assesses a company's financial health and future growth potential by analyzing projected and historical earnings, sales, and cash flow [5] Momentum Score - The Momentum Style Score is based on price trends and earnings outlook, helping investors capitalize on upward or downward price movements [6] VGM Score - The VGM Score combines the Value, Growth, and Momentum Scores, providing a comprehensive indicator for stock selection alongside the Zacks Rank [7] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in building successful portfolios [8] - Stocks rated 1 (Strong Buy) have historically produced an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [9] Stock to Watch: Dominion Energy - Dominion Energy Inc., based in Richmond, VA, is a major energy company involved in regulated and non-regulated electricity distribution and generation [12] - The company currently holds a 3 (Hold) rating on the Zacks Rank, with a VGM Score of B and a Momentum Style Score of B, indicating potential for growth [13] - Over the past four weeks, Dominion Energy's shares have increased by 3%, and there has been a positive revision in earnings estimates for fiscal 2025 [13][14]

Core Insights - Dominion Energy reported a non-GAAP EPS of $0.58, exceeding expectations by $0.03, while sales decreased by 3.7% year-over-year to $3.4 billion [1] Financial Performance - The company provided specific guidance for 2025, targeting an operating EPS range of $3.28 to $3.52 per share [1]

Company Overview - Dominion Energy Inc., based in Richmond, VA, was founded in 1909 and is involved in the production and transportation of energy in the United States, including regulated and non-regulated electricity distribution, generation, and transmission [12] Zacks Rank and Style Scores - Dominion Energy holds a Zacks Rank of 3 (Hold) and has a VGM Score of B, indicating a solid position in the market [13] - The company has a Value Style Score of B, supported by attractive valuation metrics such as a forward P/E ratio of 16.52, which may appeal to value investors [13] Earnings Estimates - For fiscal 2025, one analyst has revised their earnings estimate upwards in the last 60 days, with the Zacks Consensus Estimate increasing by $0.01 to $3.39 per share [13] - Dominion Energy has an average earnings surprise of 4.2%, suggesting potential for positive performance [13] Investment Consideration - With a solid Zacks Rank and top-tier Value and VGM Style Scores, Dominion Energy is recommended for investors' consideration [14]

Financial Data and Key Metrics Changes - Full year 2024 operating earnings were $2.77 per share, in the top half of the guidance range despite adverse weather conditions [12] - Fourth quarter operating earnings were $0.58 per share, with GAAP earnings at $0.15 per share [13] - 2025 operating earnings per share guidance narrowed to $3.28 to $3.52, reaffirming annual operating earnings growth guidance of 5% to 7% through 2029 [14][15] - Updated 5-year capital forecast increased to $50 billion, a 16% rise from prior guidance [16] Business Line Data and Key Metrics Changes - Approximately 80% of the capital increase is attributed to Dominion Energy Virginia, driven by higher transmission, distribution, and nuclear spending [17] - 60% of the updated capital spend will be eligible for recovery under rider mechanisms, subject to regulatory approval [18] Market Data and Key Metrics Changes - Virginia hosts the largest data center concentration globally, with approximately 450 data centers connected, representing nearly 9 gigawatts of capacity [44] - Data center sales account for about 26% of total sales for Dominion Energy Virginia [44] - PJM forecasts a peak summer load growth of approximately 6.3% per year for the next 10 years, with projected peak load for 2034 increasing from 26.1 gigawatts to 41.5 gigawatts [48] Company Strategy and Development Direction - The company remains focused on strategic simplicity, long-term financial execution, balance sheet conservatism, dividend security, and exceptional customer experience [7] - The Coastal Virginia Offshore Wind (CVOW) project is 50% complete and on schedule for completion in 2026, supporting the growing energy needs of data centers [28] - The company is committed to maintaining affordability while ensuring reliable service [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the updated cost estimates for CVOW and the ability to deliver the project on time [41] - The company is focused on executing its plan and addressing regulatory challenges in South Carolina [59] - Management highlighted the importance of data center expansion for Virginia's economy and the company's growth strategy [95] Other Important Information - The CVOW project cost increased from $9.8 billion to $10.7 billion, with 80% of the increase expected to be recoverable [35][40] - The company achieved near-record safety performance in 2024, with a focus on maintaining low rates compared to national averages [26] Q&A Session Summary Question: Updates on CVOW project variability and supplier component deliveries - Management expressed confidence in the project estimates and noted that remaining spend outside the U.S. is about $2.5 billion, with most components considered finished products [69][70] Question: Clarification on data center gigawatts and timeline for integration - Management confirmed that the gigawatts in the substation engineering phase are not included in the PJM forecast and emphasized the significant demand for data centers in Virginia [81][83] Question: Insights on Millstone and potential large customer contracts - Management indicated that additionality is not essential for potential large users and will continue discussions with stakeholders in Connecticut [88] Question: Engagement with stakeholders regarding data center expansion - Management noted that policymakers in Virginia recognize the economic benefits of data centers and are focused on ensuring continued growth [94] Question: Assumptions for earned returns and regulatory lag - Management discussed the potential for under-earning in South Carolina and emphasized a focus on achieving allowed returns through stakeholder engagement [125][126]

Core Insights - Dominion Energy Inc. reported fourth-quarter 2024 operating earnings of 58 cents per share, exceeding the Zacks Consensus Estimate of 54 cents by 7.4% and marking a 100% increase from the previous year [1] - The company's total revenues for the fourth quarter were $3.4 billion, falling short of the Zacks Consensus Estimate of $3.51 billion by 3.2% and down 3.8% from $3.53 billion in the year-ago quarter [3] - Operating earnings for the full year 2024 were $2.77 per share, compared to $1.95 in 2023, aligning closely with the guidance range of $2.68-$2.83 per share [2] Revenue and Earnings Performance - Total revenues for 2024 reached $14.46 billion, reflecting a year-over-year increase of nearly 0.5% [3] - Operating expenses increased by 6.6% year over year to $3 billion, driven by higher operations and maintenance costs [4] - Operating earnings in the reported quarter amounted to $504 million, representing a 93.8% year-over-year increase [5] Segment Performance - Dominion Energy Virginia reported net income of $440 million, up 19.2% year over year [6] - Dominion Energy South Carolina's net income increased by 36% year over year to $102 million [6] - The Contracted Energy segment saw a net income of $54 million, a significant recovery from a loss of $19 million in the previous year [6] Financial Position - As of December 31, 2024, current assets were $6.61 billion, a decrease from $25.4 billion as of December 31, 2023 [7] - Total long-term debt rose to $37.5 billion from $32.3 billion year over year [7] - Cash from operating activities for 2024 was $4.85 billion, down from $6.57 billion in the prior year [7] Guidance and Future Outlook - Dominion Energy has narrowed its 2025 operating earnings guidance to a range of $3.28-$3.52 per share, slightly below the previous range [8] - The company maintains its annual operating earnings growth guidance of 5-7% through 2029 and plans to invest $50 billion from 2025 to 2029 [9]

Q4 2024 earnings call February 12, 2025 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 "path", "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "outlook", "predict", ...

Core Insights - Dominion Energy reported quarterly earnings of $0.58 per share, exceeding the Zacks Consensus Estimate of $0.54 per share, and showing an increase from $0.29 per share a year ago, representing an earnings surprise of 7.41% [1] - The company posted revenues of $3.4 billion for the quarter ended December 2024, which was 3.17% below the Zacks Consensus Estimate and a decrease from $3.53 billion year-over-year [2] - Dominion Energy has surpassed consensus EPS estimates three times over the last four quarters, while it has only topped revenue estimates once in the same period [2] Earnings Outlook - The immediate price movement of Dominion Energy's stock will largely depend on management's commentary during the earnings call and future earnings expectations [3] - The current consensus EPS estimate for the upcoming quarter is $0.81 on revenues of $3.93 billion, and for the current fiscal year, it is $3.39 on revenues of $16.04 billion [7] Industry Context - The Utility - Electric Power industry, to which Dominion Energy belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

Financial Performance - Dominion Energy reported a GAAP net income of $145 million ($0.15 per share) for Q4 2024, down from $331 million ($0.37 per share) in Q4 2023[2]. - For the full year 2024, Dominion Energy's GAAP net income was $2.1 billion ($2.44 per share), compared to $2.0 billion ($2.33 per share) in 2023, reflecting a 5% increase[2]. - Operating earnings (non-GAAP) for Q4 2024 were $504 million ($0.58 per share), significantly up from $260 million ($0.29 per share) in Q4 2023, marking a 93% increase[4]. - The full year 2024 operating earnings reached $2.4 billion ($2.77 per share), compared to $1.7 billion ($1.95 per share) in 2023, representing a 41% increase[4]. - Reported earnings for Q4 2024 were $145 million, down from $331 million in Q4 2023, a decrease of 56.0%[20]. - Earnings per share (EPS) for Q4 2024 was $0.15, a decline of 59.5% compared to $0.37 in Q4 2023[20]. - Operating earnings (non-GAAP) for the full year 2024 increased to $2,392 million, up 39.4% from $1,715 million in 2023[20]. Guidance and Projections - Dominion Energy narrowed its 2025 operating earnings guidance range to $3.28 to $3.52 per share, maintaining the original midpoint of $3.40 per share[6]. - The company reaffirmed its long-term operating earnings per share growth guidance of 5% to 7% through 2029, based on the 2025 operating earnings per share midpoint of $3.30[6]. Revenue and Expenses - Dominion Energy's operating revenue for Q4 2024 was $3.4 billion, slightly down from $3.534 billion in Q4 2023[18]. - Total operating expenses for Q4 2024 were $3.009 billion, compared to $2.822 billion in Q4 2023, indicating an increase of 6.6%[18]. Segment Performance - The Dominion Energy Virginia segment reported operating earnings of $440 million in Q4 2024, an increase of 19.2% from $369 million in Q4 2023[20]. Adjustments and Impacts - The company experienced a pre-tax loss of $478 million in Q4 2024, compared to a pre-tax income of $83 million in Q4 2023, representing a change of $561 million[20]. - Adjustments to reported earnings for 2024 totaled $359 million, significantly impacting the overall earnings[20]. - The average diluted common shares outstanding increased to 842.2 million in Q4 2024 from 837.3 million in Q4 2023[20]. Discontinued Operations and Charges - The company reported a net benefit of $228 million from discontinued operations, primarily related to gas distribution operations[27]. - Regulated asset retirements and other charges amounted to $276 million, including significant costs related to the Coastal Virginia Offshore Wind project[27]. - Nonregulated asset impairments and other charges totaled $229 million, reflecting various impairment charges across different facilities[27]. - $1.2 billion net benefit from discontinued operations, including a $722 million benefit from the sale of non-controlling interest in Cove Point[32]. - $1.2 billion net market benefit primarily from $411 million in nuclear decommissioning trusts and $758 million in economic hedging activities[32]. - $370 million of regulated asset retirements and other charges related to Virginia Power's 2021 triennial review settlement[32]. Changes in Earnings and EPS - Change in reported earnings (GAAP) decreased by $186 million, resulting in a $0.22 decrease in EPS[33]. - Change in pre-tax income increased by $561 million, contributing to a $0.67 increase in EPS[33]. - Adjustments to reported earnings amounted to $430 million, leading to a $0.51 increase in EPS[33]. - Change in consolidated operating earnings (non-GAAP) increased by $244 million, resulting in a $0.29 increase in EPS[33]. - Weather impacts contributed an increase of $11 million in earnings, translating to a $0.01 increase in EPS[33]. - Customer-elected rate impacts added $18 million, resulting in a $0.02 increase in EPS[33]. - Change in contribution to operating earnings increased by $71 million, leading to a $0.08 increase in EPS[33].

Dominion Energy Inc. (D) is expected to report an improvement in its bottom line when it reports fourth-quarter 2024 results on Feb. 12, before market open.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for D’s fourth-quarter revenues is pegged at $3.51 billion, indicating a nominal decline of 0.64% from the year-ago reported figure.The Zacks Consensus Estimate for D’s fourth-quarter earnings is pegged at 54 cents per share, indicating growth of 86.2 ...