Dominion Energy (D) Q4 2024 Earnings
How Did D Stock React to Q4 2024 Earnings?
S&P 500 over the same 30 days: −6.00%.
Did D Beat Earnings? Q4 2024 Results
Yes. Dominion Energy reported Q4 2024 earnings of $0.58 a share on Feb 12, 2025, beating the $0.55 consensus estimate by 4.6%. Revenue was $3.4B against a $3.9B estimate.
Dominion Energy posted a mixed fourth quarter, beating earnings expectations while falling short on revenue as the utility navigated softer top-line results with stronger operational performance beneath the surface. The company reported adjusted EPS of $0.58, clearing the $0.55 consensus estimate by 4.60%, even as revenue of $3.40 billion declined 3.8% year over year and missed expectations by 13.73%. The earnings outperformance was largely driven by Dominion Energy Virginia, where rider equity returns contributed $112 million in incremental earnings and helped push the segment's operating income to $440 million from $369 million a year earlier. The Contracted Energy segment also swung from a $19 million loss to $54 million in operating earnings, aided by improved Millstone nuclear margins. Looking ahead, management narrowed its 2025 operating EPS guidance range to $3.28 to $3.52, preserving a $3.40 midpoint, and reaffirmed a 5% to 7% long-term growth target through 2029, supported by a newly expanded $50.10 billion five-year capital plan aimed at meeting surging data center power demand across its service territories.
- Rider equity returns contributed $112 million incremental operating earnings in Q4 for Virginia segment
- Improved Contracted Energy margins and favorable Millstone outage comparisons
- Customer-elected rate impacts in Virginia contributed $18 million in Q4
- Base & RSA rate case impacts in South Carolina contributed $35 million in Q4
- Lower net interest expense in Corporate and Other segment
“We delivered 2024 operating earnings per share in the top half of our guidance range despite worse-than-normal weather in our regulated service areas. In addition, we continued to successfully provide the reliable, affordable, and increasingly clean energy that powers our customers every day while achieving near-record employee safety performance.”
Dominion Energy CEO, on the earnings call
What Was Dominion Energy's Outlook in Q4 2024?
Dominion Energy narrowed its 2025 operating EPS guidance range to $3.28 to $3.52 per share, inclusive of estimated RNG 45Z income, preserving the original midpoint of $3.40 per share. The company reaffirmed its long-term operating EPS growth rate guidance of 5% to 7% through 2029 off the 2025 operating EPS midpoint excluding RNG 45Z ($3.30 per share). Existing credit and dividend guidance was also reaffirmed.
D YoY Financials
| Metric | Q4 2024 | Q4 2023 | Year over year |
|---|---|---|---|
| Revenue | $3.4B | $3.5B | −3.8% |
| Operating Income | $391.0M | $698.0M | −44.0% |
| Net Income | $145.0M | $235.0M | −38.3% |
Figures from SEC filings and company reports. Not investment advice.