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Dominion Energy's Q3 Earnings Top Estimates, Revenues Increase Y/Y
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Key Takeaways
D's Q3 earnings climb 20.8% to $1.28 per share, while revenues surge 24.1% to $5.62 billion.
D's Virginia utility earnings rise to $862 million on favorable rates, rider returns and weather.
D reaffirms 2026 EPS guidance of $3.45-$3.69 and its 5-7% annual earnings growth target through 2030.
Dominion Energy, Inc. (D - Free Report) reported third-quarter 2026 operating earnings of $1.28 per share, up 20.8% from $1.06 in the year-ago quarter. The figure surpassed the Zacks Consensus Estimate of $1.20 by 6.7%.
GAAP earnings were $1.30 per share, up from $1.16 in the prior-year quarter.
Total Revenues
Operating revenues increased 24.1% to $5.62 billion, beating the consensus mark of $4.8 billion by 17%. Weather-normal regulated electric sales grew 3.4% over the trailing 12 months.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Dominion Energy Virginia generated operating earnings of $862 million, up from $679 million in the third quarter of 2025. Its earnings contribution increased to 98 cents per share from 79 cents.
The improvement included $137 million from the 2025 Biennial Review, $112 million from rider equity returns and $55 million from favorable weather. Customer usage and other factors contributed $19 million. These gains were partially offset by higher electric capacity expenses, salaries and administrative costs, depreciation, storm restoration expenses and lower nuclear production tax credits.
Dominion Energy's Other Segment Results
Dominion Energy South Carolina contributed operating earnings of $230 million, up from $168 million a year ago. Earnings per share increased to 26 cents from 20 cents. Favorable rate-case impacts contributed $46 million, while weather added $36 million. Higher depreciation and interest expenses partially offset these gains.
Contracted Energy's operating earnings declined to $134 million from $165 million. Lower renewable energy investment tax credits and higher interest expenses weighed on results. Corporate and Other reported a loss of $87 million, narrower than $91 million in the prior-year quarter.
D's Operational Highlights
Total operating expenses increased 18.4% to $3.78 billion from $3.19 billion. Electric fuel and other energy-related purchases rose to $1.60 billion from $1.34 billion, while other operation and maintenance expenses increased to $1.09 billion from $0.98 billion. Interest and related charges rose to $623 million from $527 million.
Dominion Energy Sees Strong Data Center Demand
Data center contracted capacity in Virginia reached approximately 54.9 gigawatts (GW) in September 2026, increasing 6.3 GW, or 13%, from December 2025. The total included 12.2 GW under electric service agreements, 9.8 GW under construction authorizations and 32.8 GW in detailed engineering.
Weather-normal commercial electric sales grew 8.6% over the trailing 12 months. The company's regulated utilities served approximately 4.2 million customers in the third quarter, including 2.8 million in Virginia and 1.3 million in South Carolina.
D Advances Coastal Virginia Offshore Wind Project
Dominion Energy's Coastal Virginia Offshore Wind project was approximately 85% complete as of Oct. 30, 2026. All turbine nacelles, towers and blades had been fabricated. The company installed 44 turbines, with installation of the 45th underway.
The project maintains its $11.65 billion capital budget, including $123 million of unused contingency. Project-to-date investments totaled approximately $10.1 billion as of Sept. 30, leaving roughly $1.5 billion in remaining costs.
Dominion Energy expects to fund approximately $800 million of the remaining expenditures after Stonepeak's contribution. The company continues targeting installation of the final turbine by year-end 2027.
Dominion Energy’s Financial Highlights
Cash and cash equivalents as of Sept. 30, 2026 were $435 million compared with $250 million as of Dec. 31, 2025.
Total long-term debt stood at $48.94 billion as of Sept. 30, 2026, higher than $44.08 billion at the end of 2025. Total assets increased to $124.78 billion from $115.86 billion at 2025-end.
Net cash provided by operating activities during the first nine months of 2026 was $4.69 billion compared with $4.37 billion in the year-ago period.
D Reaffirms Its 2026 Earnings Outlook
Dominion Energy reaffirmed its 2026 operating earnings guidance of $3.45-$3.69 per share, with a midpoint of $3.57. The Zacks Consensus Estimate for 2026 earnings per share is currently pegged at $3.59 per share.
The company maintained its long-term operating earnings growth target of 5-7% through 2030, with a bias toward the upper half of that range during 2028-2030. Dominion Energy also reiterated its planned 2026 dividend of $2.67 per share and nearly $65 billion capital investment program for 2026-2030.
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2026 adjusted earnings of $1.44 per share, which surpassed the Zacks Consensus Estimate of $1.34 by 7.5%. The bottom line increased 54.8% from 93 cents in the year-ago quarter.
Operating revenues totaled $2.183 billion, which beat the Zacks Consensus Estimate of $2.178 billion by 0.2%. The top line also increased 8% from $2.02 billion in the prior-year quarter.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2026 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 50 cents by 6%. The bottom line also increased 6% from the year-ago quarter’s figure of 50 cents.
CNP generated revenues of $2.19 billion, which beat the Zacks Consensus Estimate by 1.9%. The top line also came in 10.2% higher than the year-ago quarter’s reported figure of $1.99 billion.
PG&E Corporation (PCG - Free Report) reported third-quarter 2026 adjusted EPS of 41 cents, which missed the Zacks Consensus Estimate of 42 cents by 2.4%. The bottom line also declined 18% from the year-ago quarter’s figure of 50 cents.
PCG reported third-quarter total revenues of $6.19 billion, down 1% from $6.25 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.59 billion by 6%.
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Dominion Energy's Q3 Earnings Top Estimates, Revenues Increase Y/Y
Key Takeaways
Dominion Energy, Inc. (D - Free Report) reported third-quarter 2026 operating earnings of $1.28 per share, up 20.8% from $1.06 in the year-ago quarter. The figure surpassed the Zacks Consensus Estimate of $1.20 by 6.7%.
GAAP earnings were $1.30 per share, up from $1.16 in the prior-year quarter.
Total Revenues
Operating revenues increased 24.1% to $5.62 billion, beating the consensus mark of $4.8 billion by 17%. Weather-normal regulated electric sales grew 3.4% over the trailing 12 months.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Dominion Energy Inc. price-consensus-eps-surprise-chart | Dominion Energy Inc. Quote
D's Virginia Utility Powers Earnings Growth
Dominion Energy Virginia generated operating earnings of $862 million, up from $679 million in the third quarter of 2025. Its earnings contribution increased to 98 cents per share from 79 cents.
The improvement included $137 million from the 2025 Biennial Review, $112 million from rider equity returns and $55 million from favorable weather. Customer usage and other factors contributed $19 million. These gains were partially offset by higher electric capacity expenses, salaries and administrative costs, depreciation, storm restoration expenses and lower nuclear production tax credits.
Dominion Energy's Other Segment Results
Dominion Energy South Carolina contributed operating earnings of $230 million, up from $168 million a year ago. Earnings per share increased to 26 cents from 20 cents. Favorable rate-case impacts contributed $46 million, while weather added $36 million. Higher depreciation and interest expenses partially offset these gains.
Contracted Energy's operating earnings declined to $134 million from $165 million. Lower renewable energy investment tax credits and higher interest expenses weighed on results. Corporate and Other reported a loss of $87 million, narrower than $91 million in the prior-year quarter.
D's Operational Highlights
Total operating expenses increased 18.4% to $3.78 billion from $3.19 billion. Electric fuel and other energy-related purchases rose to $1.60 billion from $1.34 billion, while other operation and maintenance expenses increased to $1.09 billion from $0.98 billion. Interest and related charges rose to $623 million from $527 million.
Dominion Energy Sees Strong Data Center Demand
Data center contracted capacity in Virginia reached approximately 54.9 gigawatts (GW) in September 2026, increasing 6.3 GW, or 13%, from December 2025. The total included 12.2 GW under electric service agreements, 9.8 GW under construction authorizations and 32.8 GW in detailed engineering.
Weather-normal commercial electric sales grew 8.6% over the trailing 12 months. The company's regulated utilities served approximately 4.2 million customers in the third quarter, including 2.8 million in Virginia and 1.3 million in South Carolina.
D Advances Coastal Virginia Offshore Wind Project
Dominion Energy's Coastal Virginia Offshore Wind project was approximately 85% complete as of Oct. 30, 2026. All turbine nacelles, towers and blades had been fabricated. The company installed 44 turbines, with installation of the 45th underway.
The project maintains its $11.65 billion capital budget, including $123 million of unused contingency. Project-to-date investments totaled approximately $10.1 billion as of Sept. 30, leaving roughly $1.5 billion in remaining costs.
Dominion Energy expects to fund approximately $800 million of the remaining expenditures after Stonepeak's contribution. The company continues targeting installation of the final turbine by year-end 2027.
Dominion Energy’s Financial Highlights
Cash and cash equivalents as of Sept. 30, 2026 were $435 million compared with $250 million as of Dec. 31, 2025.
Total long-term debt stood at $48.94 billion as of Sept. 30, 2026, higher than $44.08 billion at the end of 2025. Total assets increased to $124.78 billion from $115.86 billion at 2025-end.
Net cash provided by operating activities during the first nine months of 2026 was $4.69 billion compared with $4.37 billion in the year-ago period.
D Reaffirms Its 2026 Earnings Outlook
Dominion Energy reaffirmed its 2026 operating earnings guidance of $3.45-$3.69 per share, with a midpoint of $3.57. The Zacks Consensus Estimate for 2026 earnings per share is currently pegged at $3.59 per share.
The company maintained its long-term operating earnings growth target of 5-7% through 2030, with a bias toward the upper half of that range during 2028-2030. Dominion Energy also reiterated its planned 2026 dividend of $2.67 per share and nearly $65 billion capital investment program for 2026-2030.
Dominion Energy’s Zacks Rank
Currently, Dominion Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Releases
CMS Energy Corporation (CMS - Free Report) reported third-quarter 2026 adjusted earnings of $1.44 per share, which surpassed the Zacks Consensus Estimate of $1.34 by 7.5%. The bottom line increased 54.8% from 93 cents in the year-ago quarter.
Operating revenues totaled $2.183 billion, which beat the Zacks Consensus Estimate of $2.178 billion by 0.2%. The top line also increased 8% from $2.02 billion in the prior-year quarter.
CenterPoint Energy, Inc. (CNP - Free Report) reported third-quarter 2026 adjusted earnings of 53 cents per share, which surpassed the Zacks Consensus Estimate of 50 cents by 6%. The bottom line also increased 6% from the year-ago quarter’s figure of 50 cents.
CNP generated revenues of $2.19 billion, which beat the Zacks Consensus Estimate by 1.9%. The top line also came in 10.2% higher than the year-ago quarter’s reported figure of $1.99 billion.
PG&E Corporation (PCG - Free Report) reported third-quarter 2026 adjusted EPS of 41 cents, which missed the Zacks Consensus Estimate of 42 cents by 2.4%. The bottom line also declined 18% from the year-ago quarter’s figure of 50 cents.
PCG reported third-quarter total revenues of $6.19 billion, down 1% from $6.25 billion registered in the year-ago period. The top line also missed the Zacks Consensus Estimate of $6.59 billion by 6%.