Dominion Energy(US:D)2025-05-01 11:31Financial Performance - First-quarter 2025 GAAP net income was $646 million, or $0.75 per share, compared to $441 million, or $0.50 per share, in the same period of 2024, representing a 46.5% increase in net income[1][9][16]. - Operating earnings (non-GAAP) for the first quarter of 2025 were $803 million, or $0.93 per share, up from $485 million, or $0.55 per share, in the prior year, indicating a 65.3% increase[2][18]. - Operating revenue for the first quarter of 2025 was $4.076 billion, compared to $3.632 billion in the same period of 2024, reflecting an increase of 12.2%[16]. - Total operating expenses for the first quarter of 2025 were $2.853 billion, slightly up from $2.799 billion in the prior year, resulting in a 1.9% increase[16]. - Income from operations for the first quarter of 2025 was $1.223 billion, compared to $833 million in the same period of 2024, marking a significant increase of 47%[16]. - Reported earnings for Q1 2025 were $646 million, with operating earnings (non-GAAP) at $803 million[22]. - Reported earnings per share (EPS) for Q1 2025 was $0.75, while operating EPS (non-GAAP) was $0.93[22]. - Year-to-date (YTD) 2025 reported earnings reflect a significant increase of $205 million compared to the same period in 2024[30]. Segment Performance - The Dominion Energy Virginia segment reported operating earnings of $561 million, up from $424 million in the previous year, a growth of 32.5%[18]. - The Dominion Energy South Carolina segment saw operating earnings rise to $152 million from $80 million, representing a 90% increase[18]. - The Corporate and Other segment improved its performance, reporting a loss of $19 million compared to a loss of $141 million in the prior year, a positive change of $122 million[18]. Adjustments and Losses - The company reported a pre-tax net loss of $216 million in adjustments included in reported earnings, primarily due to a $110 million net market loss related to nuclear decommissioning trusts[21]. - Adjustments to reported earnings included a pre-tax loss of $216 million, primarily due to severe weather impacts and regulated asset retirements[22]. - The company reported a $5 million net market loss primarily associated with pension and OPEB plans[29]. - Adjustments to reported earnings for 2024 included a pre-tax net loss of $410 million, primarily related to various operational impacts[24]. - Regulated asset retirements and other charges totaled $276 million, impacting the financial results significantly[29]. Future Outlook - The company affirms its full-year 2025 operating earnings guidance range of $3.28 to $3.52 per share, maintaining all financial guidance provided in the fourth quarter 2024 earnings call[4][9]. - The company anticipates continued focus on market expansion and new technology development in future quarters[30].