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Dominion Energy Q4 Earnings: What the Results Mean for the AI Power Boom

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By Trey Thoelcke Published
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Dominion Energy Q4 Earnings: What the Results Mean for the AI Power Boom

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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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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

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Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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