Dominion Beats on Q2 Earnings & Revenues, Adds Customers

Core Insights - Dominion Energy Inc. reported second-quarter 2025 operating earnings of 75 cents per share, exceeding the Zacks Consensus Estimate of 69 cents by 8.7% and reflecting a 15.4% increase from the previous year [1][9] - The company's revenues reached $3.81 billion, surpassing the Zacks Consensus Estimate of $3.64 billion by 4.5% and showing a 9.3% year-over-year growth from $3.49 billion [3][9] Financial Performance - GAAP earnings were reported at 88 cents per share, compared to 64 cents in the same quarter last year, with differences attributed to nuclear decommissioning trust funds and other non-operational adjustments [2] - Operating net earnings for the quarter were $649 million, marking a 14.5% increase year over year [5] - Total operating expenses rose by 1.2% year over year to $2.71 billion, driven by increased operations and maintenance expenses [4] Segment Performance - Dominion Energy Virginia reported net income of $549 million, up 13.2% year over year [6] - Dominion Energy South Carolina saw net income increase by 58% to $109 million [6] - Contracted Energy segment net income decreased by 53% to $47 million from $100 million in the prior year [6] - Corporate and Other segment reported a net loss of $56 million, an improvement from a loss of $87 million in the previous year [6] Balance Sheet and Cash Flow - Current assets as of June 30, 2025, were $344 million, up from $310 million at the end of 2024 [7] - Total long-term debt increased to $35.9 billion from $33.03 billion as of December 31, 2024 [7] - Cash provided from operating activities in the first half of 2025 was $2.42 billion, down from $2.84 billion in the same period last year [7] Guidance and Future Outlook - Dominion Energy reiterated its 2025 operating earnings guidance of $3.28-$3.52 per share, with the Zacks Consensus Estimate at $3.39 per share [10] - The company expects long-term annual operating earnings growth of 5-7% from 2025 operating earnings per share [10] - Planned investments amount to $50 billion for the period from 2025 to 2029 [10]