Dominion Energy Announces Third-Quarter 2026 Results
Third-quarter 2026 GAAP net income of $1.30 per share; operating earnings (non- GAAP) of $1.28 per share
Company expects to be in top half of 2026 operating EPS guidance range; reaffirms existing operating earnings, credit, dividend, and long-term growth guidance
RICHMOND, Va. – Dominion Energy, Inc. (NYSE: D), today announced unaudited net income determined in accordance with Generally Accepted Accounting Principles (GAAP, or reported earnings) for the three months ended Sept. 30, 2026, of $1.2 billion ($1.30 per share) compared with net income of $1.0 billion ($1.16 per share) for the same period in 2025.
Operating earnings (non-GAAP) for the three months ended Sept. 30, 2026, were $1.1 billion ($1.28 per share), compared to operating earnings of $921 million ($1.06 per share) for the same period in 2025.
Differences between GAAP and operating earnings for the period include gains and losses on nuclear decommissioning trust funds, mark-to-market impact of economic hedging activities, nonregulated asset impairments, and other adjustments. Details of operating earnings as compared to prior periods, business segment results and detailed descriptions of items included in reported earnings but excluded from operating earnings can be found on Schedules 1, 2, 3, and 4 of this release.
The company expects to be in the top half of the 2026 operating earnings guidance range of $3.45 to $3.69 per share and reaffirms existing operating earnings, credit, dividend, and long-term growth guidance.
The company will host its third-quarter 2026 earnings call at 11 a.m. ET on Friday, Oct. 30, 2026. Management will discuss matters of interest to financial and other stakeholders including recent financial results.
A live webcast of the conference call, including accompanying slides and other financial information, will be available on the investor information pages at investors.dominionenergy.com.
For individuals who prefer to join via telephone, domestic callers should dial 1-833-309-3473 and international callers should dial 1-785-838-9251. The conference ID for the telephonic earnings call is DOMINION. Participants should dial in 10 to 15 minutes prior to the scheduled start time.
A replay of the webcast will be available on the investor information pages by the end of the day October 30. A telephonic replay of the earnings call will be available beginning at about 2 p.m. ET on October 30. Domestic callers may access the recording by dialing 1-800-757-4768. International callers should dial 1-402-220-7227. The passcode for the replay is 17292.
Dominion Energy uses operating earnings (non-GAAP) as the primary performance measurement of its results for public communications with analysts and investors. Operating earnings are defined as reported earnings adjusted for certain items. Dominion Energy also uses operating earnings internally for budgeting, for reporting to the Board of Directors, for the company’s incentive compensation plans, and for its targeted dividend payouts and other purposes. Dominion
Energy management believes operating earnings provide a more meaningful representation of the company’s fundamental earnings power. In providing its operating earnings guidance, the company notes that there could be differences between expected reported earnings and estimated operating earnings for matters such as, but not limited to, the mark-to-market impact of economic hedging activities, gains and losses on nuclear decommissioning trust funds, market- related impacts on pension and other postretirement benefit plans, acquisitions, divestitures, or extreme weather events and other natural disasters. At this time, Dominion Energy management is not able to estimate the aggregate impact of these items on future period reported earnings. Accordingly, Dominion Energy is not able to provide a corresponding GAAP equivalent for its operating earnings guidance.
Dominion Energy (NYSE: D), headquartered in Richmond, Va., provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina. The company is one of the nation’s leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England. The company’s mission is to provide the reliable, affordable, and increasingly clean energy that powers its customers every day. Please visit DominionEnergy.comto learn more.
This release contains certain forward-looking statementswithin the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to various risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to: risks and uncertainties that may impact the ability of the parties to complete the proposed merger with NextEra Energy at all, or within the anticipated terms and time frames, including the ability to obtain applicable regulatory approvals and any associated terms and conditions of such approvals and any other events or changes in circumstances that could give rise to the termination of the merger agreement by either party; the impacts of the proposed merger with NextEra Energy, including certain covenants in the merger agreement, and any related uncertainties and disruptions on Dominion Energy’s business, including on its ability to hire and retain employees and/or on its relationships with regulators and other governmental agencies, customers, suppliers, vendors and/or other third parties; unusual weather conditions and their effect on energy sales to customers and energy commodity prices; extreme weather events and other natural disasters; extraordinary external events, such as the pandemic health event resulting from COVID-19; federal, state and local legislative and regulatory developments; changes in or interpretations of federal and state tax laws and regulations; changes to regulated rates collected by Dominion Energy; changes in rules for RTOs and ISOs in which Dominion Energy joins and/or participates; risks associated with entities in which Dominion Energy shares ownership with third parties, such as a 50% noncontrolling interest in the Coastal Virginia Offshore Wind (CVOW) commercial project, including risks that result from lack of sole decision making authority, disputes that may arise between Dominion Energy and third-party participants and difficulties in exiting these arrangements; timing and receipt of regulatory approvals necessary for planned construction or expansion projects and compliance with conditions associated with such regulatory approvals; the inability to complete planned construction projects within time frames initially anticipated; risks and uncertainties that may impact the ability to construct the CVOW commercial project within the currently proposed timeline, or at all, and consistent with current cost estimates along with the ability to recover such costs from customers; risks and uncertainties associated with the timely receipt of future capital contributions, including optional capital contributions, if any, from the noncontrolling financing partner associated with the construction of the CVOW commercial project; changes to federal, state, and local environmental laws and regulations, including those related to climate change; cost of environmental strategy and compliance, including cost related to climate change; changes in implementation and enforcement practices of regulators relating to environmental standards and litigation exposure for remedial activities; unplanned outages at facilities in which Dominion Energy has an ownership interest; risks associated with the operation of nuclear facilities; changes in operating, maintenance or construction costs; the availability of nuclear fuel, natural gas, purchased power or other materials utilized by Dominion Energy to provide electric generation, transmission and distribution and/or gas distribution services; additional competition in Dominion Energy’s industries; changes in technology; changes in demand for Dominion Energy’s services; risks and uncertainties associated with increased energy demand or significant accelerated growth in demand due to new data centers, including the concentration of data centers primarily in Loudoun County, Va., and the ability to obtain regulatory approvals, environmental and other permits to construct new facilities in a timely manner; the technological and economic feasibility of large-scale battery storage, carbon capture and storage, small modular reactors, hydrogen,
and/or other clean energy technologies; receipt of approvals for, and timing of, closing dates for acquisitions and divestitures; impacts of acquisitions, divestitures, transfers of assets by Dominion Energy to joint ventures, or retirements of assets based on asset portfolio reviews; adverse outcomes in litigation matters or regulatory proceedings; counterparty credit and performance risk; fluctuations in energy-related commodity prices; fluctuations in interest rates; changes in rating agency requirements or credit ratings and their effect on availability and cost of capital; capital market conditions, including the availability of credit and the ability to obtain financing on reasonable terms; and political and economic conditions, including tariffs, inflation and deflation. Other risk factors are detailed from time to time in Dominion Energy’s quarterly reports on Form 10-Q and most recent annual report on Form 10-K filed with the U.S. Securities and Exchange Commission.
News Category:Corporate & Financial ##### For further information:Media: Ryan Frazier, (804) 836-2083 or C.Ryan.Frazier@dominionenergy.com;
Investor Relations: David McFarland, (804) 819-2438 or David.M.McFarland@dominionenergy.com Consolidated Statements of Income (GAAP)
(1) Includes impairment of assets and other charges (benefits). *The notes contained in Dominion Energy's most recent quarterly report on Form 10-Q or annual report on Form 10-K are an integral part of the Consolidated Financial Statements.
(1) Determined in accordance with Generally Accepted Accounting Principles (GAAP). (2) Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details or find "GAAP Reconciliation" in the Earnings Release Kit on Dominion Energy's website at investors.dominionenergy.com. (3) The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. During each quarter of 2026 and 2025, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series C preferred stock of $11 million. See Forms 10-Q and 10-K for additional information.
Schedule 2 - Reconciliation of 2026 Reported Earnings to Operating Earnings 2026 Earnings (Nine Months Ended September 30, 2026) The $661 million pre-tax net loss of the adjustments included in 2026 reported earnings, but excluded from operating earnings, is primarily related to the following items : • $315 million net market benefit primarily associated with $438 million from nuclear decommissioning trusts (NDT) offset by $123 million in economic hedging activities. • $95 million of regulated asset retirements and other charges (benefits) primarily due to a net charge associated with Virginia Power’s share of costs not expected to be recovered from customers on the Coastal Virginia Offshore Wind (CVOW) Commercial project. • $719 million of nonregulated asset impairments and other charges (benefits) primarily due to an $820 million charge associated with nonregulated renewable natural gas facilities and a $79 million charge associated with certain nonregulated solar generation facilities offset by a $195 million benefit related to the revision of asset retirement obligations at Millstone nuclear power station.
(2) The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. During each quarter of 2026, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series C preferred stock of $11 million. See Forms 10-Q and 10-K for additional information. (3) Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes, calculation of such amounts may be adjusted in connection with the calculation of the Company’s year-to-date income tax provision based on its estimated annual effective tax rate. (4) YTD EPS may not equal sum of quarters due to share count differences.
Schedule 3 - Reconciliation of 2025 Reported Earnings to Operating Earnings 2025 Earnings (Twelve Months Ended December 31, 2025) The $112 million pre-tax net income of the adjustments included in 2025 reported earnings, but excluded from operating earnings, is primarily related to the following items: • $485 million net market benefit primarily associated with $507 million from nuclear decommissioning trusts (NDT) and $131 million on pension and other postretirement benefit (OPEB) plans offset by $153 million in economic hedging activities. • $258 million of regulated asset retirements and other charges primarily associated with Virginia Power’s share of costs not expected to be recovered from customers on the Coastal Virginia Offshore Wind (CVOW) Commercial project.
(2) The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. During each quarter of 2025, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with Series C preferred stock of $11 million. See Forms 10-Q and 10-K for additional information. (3) Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes, calculation of such amounts may be adjusted in connection with the calculation of the Company’s year-to-date income tax provision based on its estimated annual effective tax rate. (4) YTD EPS may not equal sum of quarters due to share count differences. Amounts for Q1 2025 reflect an immaterial revision related to income taxes on Dominion Energy’s nuclear decommissioning trusts. See 1st quarter Form 10-Q for more information.
(1) Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details, or find "GAAP Reconciliation" in the Earnings Release Kit on Dominion Energy's website at investors.dominionenergy.com. (2) Includes the impacts of non-jurisdictional customers. (3) Includes earnings impact from outage costs and lower energy margins. (4) Includes an increase from renewable natural gas facilities of $37 million and $57 million for the quarter and year-to-date periods, respectively. NOTE: Figures may not sum due to rounding.
Full text with the tables
Exhibit 99
NEWS RELEASE
October 30, 2026
Dominion Energy Announces Third-Quarter 2026 Results
Third-quarter 2026 GAAP net income of $1.30 per share; operating earnings (non-
GAAP) of $1.28 per share
Company expects to be in top half of 2026 operating EPS guidance range;
reaffirms existing operating earnings, credit, dividend, and long-term growth
guidance
RICHMOND, Va. – Dominion Energy, Inc. (NYSE: D), today announced unaudited net
income determined in accordance with Generally Accepted Accounting Principles
(GAAP, or reported earnings) for the three months ended Sept. 30, 2026, of $1.2
billion ($1.30 per share) compared with net income of $1.0 billion ($1.16 per
share) for the same period in 2025.
Operating earnings (non-GAAP) for the three months ended Sept. 30, 2026, were
$1.1 billion ($1.28 per share), compared to operating earnings of $921 million
($1.06 per share) for the same period in 2025.
Differences between GAAP and operating earnings for the period include gains and
losses on nuclear decommissioning trust funds, mark-to-market impact of economic
hedging activities, nonregulated asset impairments, and other adjustments.
Details of operating earnings as compared to prior periods, business segment
results and detailed descriptions of items included in reported earnings but
excluded from operating earnings can be found on Schedules 1, 2, 3, and 4 of
this release.
Guidance
The company expects to be in the top half of the 2026 operating earnings
guidance range of $3.45 to $3.69 per share and reaffirms existing operating
earnings, credit, dividend, and long-term growth guidance.
Webcast today
The company will host its third-quarter 2026 earnings call at 11 a.m. ET on
Friday, Oct. 30, 2026. Management will discuss matters of interest to financial
and other stakeholders including recent financial results.
A live webcast of the conference call, including accompanying slides and other
financial information, will be available on the investor information pages at
investors.dominionenergy.com.
For individuals who prefer to join via telephone, domestic callers should dial
1-833-309-3473 and international callers should dial 1-785-838-9251. The
conference ID for the telephonic earnings call is DOMINION. Participants should
dial in 10 to 15 minutes prior to the scheduled start time.
A replay of the webcast will be available on the investor information pages by
the end of the day October 30. A telephonic replay of the earnings call will be
available beginning at about 2 p.m. ET on October 30. Domestic callers may
access the recording by dialing 1-800-757-4768. International callers should
dial 1-402-220-7227. The passcode for the replay is 17292.
Important note to investors regarding operating, reported earnings
Dominion Energy uses operating earnings (non-GAAP) as the primary performance
measurement of its results for public communications with analysts and
investors. Operating earnings are defined as reported earnings adjusted for
certain items. Dominion Energy also uses operating earnings internally for
budgeting, for reporting to the Board of Directors, for the company’s incentive
compensation plans, and for its targeted dividend payouts and other purposes.
Dominion
Energy management believes operating earnings provide a more meaningful
representation of the company’s fundamental earnings power. In providing its
operating earnings guidance, the company notes that there could be differences
between expected reported earnings and estimated operating earnings for matters
such as, but not limited to, the mark-to-market impact of economic hedging
activities, gains and losses on nuclear decommissioning trust funds, market-
related impacts on pension and other postretirement benefit plans, acquisitions,
divestitures, or extreme weather events and other natural disasters. At this
time, Dominion Energy management is not able to estimate the aggregate impact of
these items on future period reported earnings. Accordingly, Dominion Energy is
not able to provide a corresponding GAAP equivalent for its operating earnings
guidance.
About Dominion Energy
Dominion Energy (NYSE: D), headquartered in Richmond, Va., provides regulated
electricity service to 3.6 million homes and businesses in Virginia, North
Carolina, and South Carolina, and regulated natural gas service to 500,000
customers in South Carolina. The company is one of the nation’s leading
developers and operators of regulated offshore wind and solar power and the
largest producer of carbon-free electricity in New England. The company’s
mission is to provide the reliable, affordable, and increasingly clean energy
that powers its customers every day. Please visit DominionEnergy.comto learn
more.
This release contains certain forward-looking statementswithin the meaning of
the Private Securities Litigation Reform Act of 1995 that are subject to various
risks and uncertainties. Factors that could cause actual results to differ
include, but are not limited to: risks and uncertainties that may impact the
ability of the parties to complete the proposed merger with NextEra Energy at
all, or within the anticipated terms and time frames, including the ability to
obtain applicable regulatory approvals and any associated terms and conditions
of such approvals and any other events or changes in circumstances that could
give rise to the termination of the merger agreement by either party; the
impacts of the proposed merger with NextEra Energy, including certain covenants
in the merger agreement, and any related uncertainties and disruptions on
Dominion Energy’s business, including on its ability to hire and retain
employees and/or on its relationships with regulators and other governmental
agencies, customers, suppliers, vendors and/or other third parties; unusual
weather conditions and their effect on energy sales to customers and energy
commodity prices; extreme weather events and other natural disasters;
extraordinary external events, such as the pandemic health event resulting from
COVID-19; federal, state and local legislative and regulatory developments;
changes in or interpretations of federal and state tax laws and regulations;
changes to regulated rates collected by Dominion Energy; changes in rules for
RTOs and ISOs in which Dominion Energy joins and/or participates; risks
associated with entities in which Dominion Energy shares ownership with third
parties, such as a 50% noncontrolling interest in the Coastal Virginia Offshore
Wind (CVOW) commercial project, including risks that result from lack of sole
decision making authority, disputes that may arise between Dominion Energy and
third-party participants and difficulties in exiting these arrangements; timing
and receipt of regulatory approvals necessary for planned construction or
expansion projects and compliance with conditions associated with such
regulatory approvals; the inability to complete planned construction projects
within time frames initially anticipated; risks and uncertainties that may
impact the ability to construct the CVOW commercial project within the currently
proposed timeline, or at all, and consistent with current cost estimates along
with the ability to recover such costs from customers; risks and uncertainties
associated with the timely receipt of future capital contributions, including
optional capital contributions, if any, from the noncontrolling financing
partner associated with the construction of the CVOW commercial project; changes
to federal, state, and local environmental laws and regulations, including those
related to climate change; cost of environmental strategy and compliance,
including cost related to climate change; changes in implementation and
enforcement practices of regulators relating to environmental standards and
litigation exposure for remedial activities; unplanned outages at facilities in
which Dominion Energy has an ownership interest; risks associated with the
operation of nuclear facilities; changes in operating, maintenance or
construction costs; the availability of nuclear fuel, natural gas, purchased
power or other materials utilized by Dominion Energy to provide electric
generation, transmission and distribution and/or gas distribution services;
additional competition in Dominion Energy’s industries; changes in technology;
changes in demand for Dominion Energy’s services; risks and uncertainties
associated with increased energy demand or significant accelerated growth in
demand due to new data centers, including the concentration of data centers
primarily in Loudoun County, Va., and the ability to obtain regulatory
approvals, environmental and other permits to construct new facilities in a
timely manner; the technological and economic feasibility of large-scale battery
storage, carbon capture and storage, small modular reactors, hydrogen,
and/or other clean energy technologies; receipt of approvals for, and timing of,
closing dates for acquisitions and divestitures; impacts of acquisitions,
divestitures, transfers of assets by Dominion Energy to joint ventures, or
retirements of assets based on asset portfolio reviews; adverse outcomes in
litigation matters or regulatory proceedings; counterparty credit and
performance risk; fluctuations in energy-related commodity prices; fluctuations
in interest rates; changes in rating agency requirements or credit ratings and
their effect on availability and cost of capital; capital market conditions,
including the availability of credit and the ability to obtain financing on
reasonable terms; and political and economic conditions, including tariffs,
inflation and deflation. Other risk factors are detailed from time to time in
Dominion Energy’s quarterly reports on Form 10-Q and most recent annual report
on Form 10-K filed with the U.S. Securities and Exchange Commission.
News Category:Corporate & Financial
#####
For further information:Media: Ryan Frazier, (804) 836-2083 or
C.Ryan.Frazier@dominionenergy.com;
Investor Relations: David McFarland, (804) 819-2438 or
David.M.McFarland@dominionenergy.com
Consolidated Statements of Income (GAAP)
Domi…
Ener…
Inc.
Cons…
Stat…
of
Inco…
*
Unau…
(GAAP
Base…
(mil…
exce…
per
share
amou…
Oper…
Reve…
Oper…
Expe…
Elec…
fuel
and
other
ener…
purc…
Purc…
elec…
capa…
Purc…
gas
Other
oper…
and
main…
Depr…
and
amor…
Other
taxes
Total
oper…
expe…
Inco…
(los…
from
oper…
Other
inco…
(exp…
Inte…
and
rela…
char…
Inco…
(los…
from
cont…
oper…
incl…
nonc…
inte…
befo…
inco…
tax
expe…
(ben…
Inco…
tax
expe…
(ben…
Net
Inco…
(los…
from
cont…
oper…
Net
Inco…
(los…
from
disc…
oper…
Net
Inco…
(los… 5,617 4,527 15,116 12,413
incl… 1,603 1,337 4,524 3,245
nonc… 106 36 255 63
inte… 40 31 236 221
Nonc… 1,089 980 3,917 2,857
inte… 722 609 1,968 1,771
Net 215 195 653 598
Inco… 3,775 3,188 11,553 8,755
(los… 1,842 1,339 3,563 3,658
attr… 271 432 952 884
to 623 527 1,739 1,513
Domi… 1,490 1,244 2,776 3,029
Ener… Three 215 216 Nine 385 476
Amou… Months 1,275 1,028 Months 2,391 2,553
attr… Ended (1 - Ended (3 -
to Septem… 1,274 1,028 Septe… 2,388 2,553
Domi… 30, 114 22 30, 267 122
Ener… 2026 1,160 ) 2025 1,006 2026 2,121 ) 2025 2,431
──────────────────────────────────────────────────────────────────────────────
Net
Inco…
(los… $ 1,161 $ 1,006 $ 2,124 $ 2,431
from
cont…
oper…
Net
Inco…
(los… (1 ) - (3 ) -
from
disc…
oper…
Net
Inco…
(los…
attr… $ 1,160 $ 1,006 $ 2,121 $ 2,431
to
Domi…
Ener…
Repo…
Inco…
(los…
per
comm…
share $ 1.30 $ 1.16 $ 2.37 $ 2.81
from
cont…
oper…
-
dilu…
Repo…
Inco…
(los…
per
comm…
share - - - -
from
disc…
oper…
-
dilu…
Repo…
Inco…
(los…
per $ 1.30 $ 1.16 $ 2.37 $ 2.81
comm…
share
-
dilu…
Aver…
shar… 882.1 855.4 881.4 853.6
outs…
dilu…
(1) Includes impairment of assets and other charges (benefits). *The notes
contained in Dominion Energy's most recent quarterly report on Form 10-Q or
annual report on Form 10-K are an integral part of the Consolidated Financial
Statements.
Schedule 1 - Segment Reported and Operating Earnings Unaudited
… T… N…
… M… M…
… E… E…
… S… S…
… 2… 3… 2… C… 2… 3… 2… C…
──────────────────────────────────────────────────────────────────────────────
… $ 1… $ 1… $ 1… $ 2… $ 2… $ … )
…
…
… (… ) (… ) 1… 6… (… ) …
…
… 16 61 (… ) (… ) 88 … )
…
…
… (… ) (… ) 64 5… (… ) …
…
…
…
… $ 1… $ 9… $ 2… $ 2… $ 2… $ …
…
…
…
…
… $ 8… $ 6… $ 1… $ 2… $ 1… $ …
…
…
… 2… 1… 62 4… 4… …
…
…
… 1… 1… (… ) 2… 3… … )
…
…
… (… ) (… ) 4 (… ) (… ) … )
…
$ 1… $ 9… $ 2… $ 2… $ 2… $ …
…
…
…
…
… $ 1… $ 1… $ 0… $ 2… $ 2… $ … )
…
…
…
… (… ) (… ) 0… 0… (… ) …
…
…
…
… $ 1… $ 1… $ 0… $ 3… $ 2… $ …
…
…
…
…
… $ 0… $ 0… $ 0… $ 2… $ 2… $ …
…
…
… 0… 0… 0… 0… 0… …
…
…
… 0… 0… (… ) 0… 0… … )
…
…
… (… ) (… ) 0… (… ) (… ) … )
…
$ 1… $ 1… $ 0… $ 3… $ 2… $ …
…
…
… 8… 8… 8… 8…
…
…
(1) Determined in accordance with Generally Accepted Accounting Principles
(GAAP). (2) Adjustments to reported earnings are included in Corporate and Other
segment reported GAAP earnings. Refer to Schedules 2 and 3 for details or find
"GAAP Reconciliation" in the Earnings Release Kit on Dominion Energy's website
at investors.dominionenergy.com. (3) The calculation of reported and operating
earnings per share on a consolidated basis utilizes shares outstanding on a
diluted basis with all dilutive impacts, primarily consisting of potential
shares which had not yet been issued, reflected in the Corporate and Other
segment. During each quarter of 2026 and 2025, the calculation of reported and
operating earnings per share includes the impact of preferred dividends
associated with Series C preferred stock of $11 million. See Forms 10-Q and 10-K
for additional information.
Schedule 2 - Reconciliation of 2026 Reported Earnings to Operating Earnings 2026
Earnings (Nine Months Ended September 30, 2026) The $661 million pre-tax net
loss of the adjustments included in 2026 reported earnings, but excluded from
operating earnings, is primarily related to the following items : • $315 million
net market benefit primarily associated with $438 million from nuclear
decommissioning trusts (NDT) offset by $123 million in economic hedging
activities. • $95 million of regulated asset retirements and other charges
(benefits) primarily due to a net charge associated with Virginia Power’s share
of costs not expected to be recovered from customers on the Coastal Virginia
Offshore Wind (CVOW) Commercial project. • $719 million of nonregulated asset
impairments and other charges (benefits) primarily due to an $820 million charge
associated with nonregulated renewable natural gas facilities and a $79 million
charge associated with certain nonregulated solar generation facilities offset
by a $195 million benefit related to the revision of asset retirement
obligations at Millstone nuclear power station.
(m…
ex…
per
sh… YTD
am… 1Q26 2Q26 3Q26 4Q26 2026…
──────────────────────────────────────────────────────────────────────────────
Re… $ 621 $ 340 $ 1,1… $ 2,1…
ea…
Ad…
to
re…
ea…
Pr…
lo… 335 363 (37 ) 661
(i…
In…
tax (109 ) 9 16 (84 )
(b…
226 372 (21 ) - 577
Op…
ea… $ 847 $ 712 $ 1,1… $ - $ 2,6…
(n…
Co…
sh…
ou… 880… 882.1 882… 881…
(a…
di…
Re…
ea… $ 0.69 $ 0.37 $ 1.30 $ 2.37
per
sh…
Ad…
to
re… 0.26 0.42 (0.… ) 0.65
ea…
per
sh…
Op…
ea…
(n… $ 0.95 $ 0.79 $ 1.28 $ - $ 3.02
per
sh…
(1)
Ad…
to
re…
ea…
are
re…
in
the
fo…
ta…
1Q26 2Q26 3Q26 4Q26 YTD
2026
Pr…
lo…
(i…
Net
lo…
(g… $ 154 $ (495 ) $ (97 ) $ (438 )
on
NDT
fu…
Ma…
im…
of 40 69 14 123
ec…
he…
ac…
Me…
re… - 13 26 39
co…
Di… 1 1 2 4
op…
DEV
se… 120 (4 ) 3 119
we…
im…
Re…
as…
re…
and (58 ) 153 - 95
ot…
ch…
(b…
No…
as…
im…
and 78 626 15 719
ot…
ch…
(b…
$ 335 $ 363 $ (37 ) $ - $ 661
In…
tax
ex…
(b…
Tax
ef…
of
ab… (109 ) 9 16 (84 )
ad…
to
re…
ea…
$ (109 ) $ 9 $ 16 $ - $ (84 )
(2) The calculation of reported and operating earnings per share on a
consolidated basis utilizes shares outstanding on a diluted basis with all
dilutive impacts, primarily consisting of potential shares which had not yet
been issued, reflected in the Corporate and Other segment. During each quarter
of 2026, the calculation of reported and operating earnings per share includes
the impact of preferred dividends associated with Series C preferred stock of
$11 million. See Forms 10-Q and 10-K for additional information. (3) Income
taxes for individual pre-tax items include current and deferred taxes using a
transactional effective tax rate. For interim reporting purposes, calculation of
such amounts may be adjusted in connection with the calculation of the Company’s
year-to-date income tax provision based on its estimated annual effective tax
rate. (4) YTD EPS may not equal sum of quarters due to share count differences.
Schedule 3 - Reconciliation of 2025 Reported Earnings to Operating Earnings 2025
Earnings (Twelve Months Ended December 31, 2025) The $112 million pre-tax net
income of the adjustments included in 2025 reported earnings, but excluded from
operating earnings, is primarily related to the following items: • $485 million
net market benefit primarily associated with $507 million from nuclear
decommissioning trusts (NDT) and $131 million on pension and other
postretirement benefit (OPEB) plans offset by $153 million in economic hedging
activities. • $258 million of regulated asset retirements and other charges
primarily associated with Virginia Power’s share of costs not expected to be
recovered from customers on the Coastal Virginia Offshore Wind (CVOW) Commercial
project.
(mi…
exc…
per
sha… YTD
amo… 1Q25 2Q25 3Q25 4Q… 20…
──────────────────────────────────────────────────────────────────────────────
Re… $ 665 $ 760 $ 1,0… $ 567 $ 2,…
ea…
Ad…
to
re…
ea…
Pr…
lo… 217 (217 ) (146 ) 34 (1… )
(i…
In…
tax (79 ) 106 61 (8 ) 80
(b…
138 (111 ) (85 ) 26 (32 )
Op…
ea… $ 803 $ 649 $ 921 $ 593 $ 2,…
(n…
Co…
sh…
ou… 852… 853… 855… 86… 85…
(a…
di…
Re…
ea… $ 0.77 $ 0.88 $ 1.16 $ 0.… $ 3.…
per
sh…
Ad…
to
re… 0.16 (0.… ) (0.… ) 0.… (0… )
ea…
per
sh…
Op…
ea…
(n… $ 0.93 $ 0.75 $ 1.06 $ 0.… $ 3.…
per
sh…
(1)
Ad…
to
re…
ea…
are
re…
in
the
fo…
ta…
1Q25 2Q25 3Q25 4Q25 YTD
2025
Pr…
lo…
(i…
Net
lo…
(g… $ 133 $ (289 ) $ (259 ) $ (92 ) $ (5… )
on
NDT
fu…
Ma…
of
pe… - - - (1… ) (1… )
and
OP…
pl…
Ma…
im…
of (22 ) 21 47 107 153
ec…
he…
ac…
Di… 1 2 2 4 9
op…
DEV
se… 82 24 - - 106
we…
im…
Re…
as…
re… 23 25 64 146 258
and
ot…
ch…
$ 217 $ (217 ) $ (146 ) $ 34 $ (1… )
In…
tax
ex…
(b…
Tax
ef…
of
ab… (79 ) 106 61 (8 ) 80
ad…
to
re…
ea…
$ (79 ) $ 106 $ 61 $ (8 ) $ 80
(2) The calculation of reported and operating earnings per share on a
consolidated basis utilizes shares outstanding on a diluted basis with all
dilutive impacts, primarily consisting of potential shares which had not yet
been issued, reflected in the Corporate and Other segment. During each quarter
of 2025, the calculation of reported and operating earnings per share includes
the impact of preferred dividends associated with Series C preferred stock of
$11 million. See Forms 10-Q and 10-K for additional information. (3) Income
taxes for individual pre-tax items include current and deferred taxes using a
transactional effective tax rate. For interim reporting purposes, calculation of
such amounts may be adjusted in connection with the calculation of the Company’s
year-to-date income tax provision based on its estimated annual effective tax
rate. (4) YTD EPS may not equal sum of quarters due to share count differences.
Amounts for Q1 2025 reflect an immaterial revision related to income taxes on
Dominion Energy’s nuclear decommissioning trusts. See 1st quarter Form 10-Q for
more information.
Schedule 4 - Reconciliation of 3Q26 Earnings to 3Q25 Preliminary, Unaudited
Three Nine
Months Months
Ended Ended
Septem… Septe…
30, 30,
(mill… 2026 2026
except vs. vs.
per 2025 2025
share Increa… Incre…
amoun… / /
Recon… (Decre… (Decr…
Items Amount EPS Amount EPS
──────────────────────────────────────────────────────────────────────────────
Change
in
repor… $ 154 $ 0.14 $ (310 ) $ (0.44 )
earni…
(GAAP)
Change
in
Pre-t… 109 0.13 807 0.92
loss
(inco…
Change
in (45 ) (0.05 ) (172 ) (0.20 )
Income
tax(1)
Adjus…
to $ 64 $ 0.08 $ 635 $ 0.72
repor…
earni…
Change
in
conso… $ 218 $ 0.22 $ 325 $ 0.28
opera…
earni…
(non-…
Domin…
Energy
Virgi…
Weath… $ 55 $ 0.06 $ 84 $ 0.10
Custo…
usage
and 19 0.02 44 0.05
other
facto…
2025
Bienn… 137 0.16 347 0.41
Review
impac…
Rider
equity 112 0.13 275 0.32
return
Elect…
capac… (48 ) (0.06 ) (124 ) (0.15 )
expen…
Storm
damage
and (16 ) (0.02 ) (30 ) (0.04 )
servi…
resto…
Plann…
outage (6 ) (0.01 ) (18 ) (0.02 )
costs
Nucle…
produ… (17 ) (0.02 ) (48 ) (0.06 )
tax
credi…
Depre…
and (16 ) (0.02 ) (36 ) (0.04 )
amort…
Salar…
wages,
and
benef… (33 ) (0.04 ) (81 ) (0.09 )
&
admin…
costs
Inter…
expen… (12 ) (0.01 ) (5 ) (0.01 )
net
Other 8 0.03 5 0.02
Share - (0.03 ) - (0.08 )
dilut…
Change
in
contr… $ 183 $ 0.19 $ 413 $ 0.41
to
opera…
earni…
Domin…
Energy
South
Carol…
Weath… $ 36 $ 0.04 $ 31 $ 0.04
Custo…
usage
and 19 0.02 42 0.05
other
facto…
Custo…
rate 1 - (1 ) -
impac…
Base &
RSA
rate 46 0.05 59 0.07
case
impac…
Capit…
cost (1 ) - (5 ) (0.01 )
rider
Depre…
and (16 ) (0.02 ) (29 ) (0.03 )
amort…
Salar…
wages,
and
benef… (3 ) - (3 ) -
&
admin…
costs
Inter…
expen… (7 ) (0.01 ) (11 ) (0.01 )
net
Other (13 ) (0.01 ) (51 ) (0.07 )
Share - (0.01 ) - (0.02 )
dilut…
Change
in
contr… $ 62 $ 0.06 $ 32 $ 0.02
to
opera…
earni…
Contr…
Energy
Margin $ 22 $ 0.03 $ 100 $ 0.12
Plann…
Mills… 3 - 7 0.01
outag…
Unpla…
Mills… (2 ) - (5 ) (0.01 )
outag…
Depre…
and (7 ) (0.01 ) (39 ) (0.05 )
amort…
Salar…
wages,
and
benef… (3 ) - (11 ) (0.01 )
&
admin…
costs
Inter…
expen… (10 ) (0.01 ) (41 ) (0.05 )
net
Renew…
energy
inves… (43 ) (0.05 ) (33 ) (0.04 )
tax
credi…
Renew…
energy
produ… 36 0.04 57 0.07
tax
credi…
Other (27 ) (0.04 ) (72 ) (0.09 )
Share - - - (0.01 )
dilut…
Change
in
contr… $ (31 ) $ (0.04 ) $ (37 ) $ (0.06 )
to
opera…
earni…
Corpo…
and
Other
Inter…
expen… $ (19 ) $ (0.02 ) $ (115 ) $ (0.14 )
net
Equity
method 2 - 7 0.01
inves…
Pensi…
and
other 4 - 15 0.02
postr…
benef…
plans
Corpo…
servi… (2 ) - (4 ) -
compa…
costs
Other 19 0.03 14 0.01
Share - - - 0.01
dilut…
Change
in
contr… $ 4 $ 0.01 $ (83 ) $ (0.09 )
to
opera…
earni…
Change
in
conso… $ 218 $ 0.22 $ 325 $ 0.28
opera…
earni…
(non-…
Change
in
adjus…
inclu… $ (64 ) $ (0.08 ) $ (635 ) $ (0.72 )
in
repor…
earni…
Change
in
conso… $ 154 $ 0.14 $ (310 ) $ (0.44 )
repor…
earni…
(1) Adjustments to reported earnings are included in Corporate and Other segment
reported GAAP earnings. Refer to Schedules 2 and 3 for details, or find "GAAP
Reconciliation" in the Earnings Release Kit on Dominion Energy's website at
investors.dominionenergy.com. (2) Includes the impacts of non-jurisdictional
customers. (3) Includes earnings impact from outage costs and lower energy
margins. (4) Includes an increase from renewable natural gas facilities of $37
million and $57 million for the quarter and year-to-date periods, respectively.
NOTE: Figures may not sum due to rounding.