Dominion Energy's Q1 Earnings & Revenues Surpass Estimates

Core Insights - Dominion Energy Inc. reported first-quarter 2025 operating earnings of 93 cents per share, exceeding the Zacks Consensus Estimate of 77 cents by 20.8% and showing a 69.1% increase from the previous year [1] - Revenues reached $4.07 billion, surpassing the Zacks Consensus Estimate of $3.81 billion by 6.8% and increasing 12.2% from $3.63 billion in the year-ago quarter [2] Financial Performance - Total operating expenses rose 1.9% year over year to $2.85 billion, attributed to increased operations and maintenance expenses [3] - Operating earnings for the quarter were $803 million, reflecting a 65.6% year-over-year increase [4] Segment Performance - Dominion Energy Virginia reported net income of $561 million, up 32.3% year over year [5] - Dominion Energy South Carolina's net income increased by 90% to $152 million [5] - Contracted Energy segment net income decreased by 10.6% to $109 million [5] - Corporate and Other segment reported a net loss of $19 million, an improvement from a loss of $141 million in the prior year [5] Financial Position - Current assets as of March 31, 2025, were $355 million, up from $310 million as of December 31, 2024 [6] - Total long-term debt increased to $35.4 billion from $33.03 billion as of December 31, 2024 [6] - Cash used in operating activities was ($1.18 billion), compared to $1.98 billion in the year-ago period [6] Guidance - Dominion Energy reiterated its 2025 operating earnings guidance of $3.28-$3.52 per share, with the Zacks Consensus Estimate at $3.38 per share [7] - The company expects to achieve annual operating earnings growth of 5-7% through 2029 and plans to invest $50 billion from 2025 to 2029 [7]