Dominion Energy (NYSE: D | D Price Prediction) posted Q4 2025 revenue of $4.09 billion, up 20% year-over-year, as surging data center electricity demand in northern Virginia continues to reshape the utility’s growth profile. The results reinforce a broader thesis: AI infrastructure is becoming a genuine earnings driver for regulated utilities, not just a talking point.
The headline EPS of $0.68 narrowly missed the $0.69 consensus estimate, but the underlying numbers tell a stronger story. Operating income nearly doubled year-over-year to $756 million, and net income surged to $567 million from just $59 million in Q4 2024. The Virginia segment, Dominion’s largest, generated $536 million in operating earnings, with customer usage growth in Loudoun County (the epicenter of U.S. data center construction) cited as a key driver.
For 2026, management guided to operating EPS of $3.45 to $3.69, with long-term annual growth of 5% to 7% through 2030, biased toward the upper half from 2028 onward. Dividend investors should note the ex-dividend date falls on February 27, 2026, just days away, with a current yield of approximately 4.1%.
Risks remain real. The Coastal Virginia Offshore Wind project generated $258 million in charges tied to unrecoverable costs, and interest expense climbed to $509 million in Q4 from $444 million a year ago. Management will address data center load growth projections and CVOW cost recovery on the 11:00 AM ET earnings call today—two items analysts are closely watching for context on Dominion Energy near-term outlook.
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