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Dominion Energy Announces Second-Quarter 2022 Earnings

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Dominion Energy (NYSE: D) reported a second-quarter 2022 net loss of $0.58 per share, totaling $453 million, contrasting with a net income of $285 million or $0.33 per share in Q2 2021. However, the company's operating earnings rose to $0.77 per share ($658 million), up from $0.76 per share ($628 million) year-on-year. For Q3 2022, Dominion anticipates operating earnings between $0.98 and $1.13 per share, affirming its full-year guidance of $3.95 to $4.25 per share. The firm emphasizes operating earnings as a key performance measure, accounting for certain adjustments.

Positive
  • Operating earnings of $0.77 per share show a year-over-year increase.
  • Affirms full-year operating earnings guidance of $3.95 to $4.25 per share.
  • Anticipates strong Q3 operating earnings guidance of $0.98 to $1.13 per share.
Negative
  • Reported a net loss of $0.58 per share compared to net income in Q2 2021.
  • Impact of economic hedging activities and nuclear decommissioning losses reflect volatility.
  • Second-quarter 2022 GAAP reported net loss of $0.58 per share
  • Second-quarter 2022 operating earnings of $0.77 per share
  • Company initiates third-quarter 2022 operating earnings guidance of $0.98 to $1.13 per share
  • Company affirms full-year 2022 operating earnings guidance as well as other long-term earnings and dividend guidance

RICHMOND, Va., Aug. 8, 2022 /PRNewswire/ -- Dominion Energy (NYSE: D) today announced an unaudited net loss determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended June 30, 2022, of $453 million ($0.58 per share) compared with net income of $285 million ($0.33 per share) for the same period in 2021. 

Operating earnings for the three months ended June 30, 2022, were $658 million ($0.77 per share), compared to operating earnings of $628 million ($0.76 per share) for the same period in 2021.

The difference between GAAP and operating earnings for the three months ended June 30, 2022, reflect the mark-to-market impact of economic hedging activities, gains and losses on nuclear decommissioning trust funds, charges associated with the sale of Kewaunee nuclear power station, regulated asset retirements and other adjustments.

Operating earnings are defined as reported earnings adjusted for certain items.  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
Dominion Energy expects third-quarter operating earnings in the range of $0.98 to $1.13 per share.

The company affirms its full-year 2022 operating earnings guidance range of $3.95 to $4.25 per share.  The company also affirms its long-term earnings and dividend growth guidance.

Webcast today
The company will host its second-quarter 2022 earnings call at 10 a.m. ET on Monday, Aug. 8, 2022.  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 1-800-420-1271 and international callers should dial 1-785-424-1205.  The passcode for the telephonic earnings call is 98021.  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 Aug. 8.  A telephonic replay of the earnings call will be available beginning at about 1 p.m. ET on Aug. 8.  Domestic callers may access the recording by dialing 1-800-839-9307.  International callers should dial 1-402-220-6085.  The PIN for the replay is 98021.

Important note to investors regarding operating, reported earnings
Dominion Energy uses operating earnings as the primary performance measurement of its earnings guidance and results for public communications with analysts and investors.  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, acquisitions, divestitures or extreme weather events and other natural disasters.  Dominion Energy management is not able to estimate the aggregate impact of these items on future period reported earnings.

About Dominion Energy
About 7 million customers in 15 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to safely providing reliable, affordable and sustainable energy and to achieving Net Zero emissions by 2050. Please visit DominionEnergy.com to learn more.

This release contains certain forward-looking statements, including forecasted operating earnings third-quarter and full-year 2022 and beyond that are subject to various risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to: 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 current pandemic health event resulting from COVID-19; federal, state and local legislative and regulatory developments; changes to regulated rates collected by Dominion Energy; 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 develop and construct the Coastal Virginia Offshore Wind (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; 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; changes in operating, maintenance and construction costs; additional competition in Dominion Energy's industries; changes in demand for Dominion Energy's services; 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, and retirements of assets based on asset portfolio reviews; the expected timing and likelihood of the completion of the proposed sale of Hope, including the ability to obtain the requisite regulatory approvals and the terms and conditions of such regulatory approvals; adverse outcomes in litigation matters or regulatory proceedings; fluctuations in interest rates; fluctuations in currency exchange rates of the Euro or Danish Krone associated with the CVOW Commercial Project; changes in rating agency requirements or credit ratings and their effect on availability and cost of capital; and capital market conditions, including the availability of credit and the ability to obtain financing on reasonable terms.  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 Securities and Exchange Commission.

 

Dominion Energy, Inc. 

Consolidated Statements of Income*

Unaudited (GAAP Based)

(millions, except per share amounts)








Three Months Ended


Six Months Ended


June 30,


June 30,


2022

2021


2022

2021







Operating Revenue

$  3,596

$      3,038


$  7,875

$  6,908







Operating Expenses






Electric fuel and other energy-related purchases

730

487


1,408

1,037

Purchased electric capacity

16

25


29

36

Purchased gas

202

121


847

605

Other operations and maintenance1

2,036

1,216


3,052

2,298

Depreciation, depletion and amortization

695

604


1,393

1,212

Other taxes

235

222


488

479

  Total operating expenses

3,914

2,675


7,217

5,667







Income (loss) from operations

(318)

363


658

1,241







Other income (expense)2

(204)

377


(78)

744

Interest and related charges

47

518


221

571







Income (loss) from continuing operations including noncontrolling interests
before income tax expense (benefit)

(569)

222


359

1,414







Income tax expense (benefit)

(117)

(47)


119

165







Net Income (loss) from continuing operations including noncontrolling interests

(452)

269


240

1,249







Net Income (loss) from discontinued operations including noncontrolling interests

(1)

26


18

54







Net Income (loss) including noncontrolling interests

$   (453)

$          295


$     258

$  1,303

Noncontrolling interests

-

10


-

10







Net Income (Loss) attributable to Dominion Energy

$   (453)

$          285


$     258

$  1,293







Reported Income (loss) per common share from continuing operations - diluted

$  (0.58)

$         0.30


$    0.23

$     1.49

Reported Income (loss) per common share from discontinued operations - diluted

-

0.03


0.02

0.07

Reported Income (Loss) per common share - diluted

$  (0.58)

$         0.33


$    0.25

$     1.56

Average shares outstanding, diluted

818.4

806.6


815.9

806.3







1) Includes impairment of assets and other charges and losses on sales of assets.

2) Includes earnings from equity method investees.

* 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








(millions, except per share amounts)

Three months ended June 30,





2022


2021


Change










REPORTED EARNINGS1




$         (453)


$          285


$         (738)










     Pre-tax loss (income)2

1,383


474


909

     Income tax2

(272)


(131)


(141)

Adjustments to reported earnings

1,111


343


768










OPERATING EARNINGS

$          658


$          628


$            30

     By segment:






     Dominion Energy Virginia

440


431


9

     Gas Distribution

125


95


30

     Dominion Energy South Carolina

124


84


40

     Contracted Assets

20


104


(84)

     Corporate and Other

(51)


(86)


35





$          658


$          628


$            30



















Earnings Per Share (EPS):3






REPORTED EARNINGS 1




$        (0.58)


$         0.33


$        (0.91)

Adjustments to reported earnings (after tax)

1.35


0.43


0.92

OPERATING EARNINGS

$         0.77


$         0.76


$         0.01

     By segment:






     Dominion Energy Virginia

0.54


0.53


0.01

     Gas Distribution

0.15


0.12


0.03

     Dominion Energy South Carolina

0.15


0.10


0.05

     Contracted Assets

0.02


0.13


(0.11)

     Corporate and Other

(0.09)


(0.12)


0.03





$         0.77


$         0.76


$         0.01










Common Shares Outstanding (average, diluted)

832.5


806.6












(millions, except earnings per share)

Six months ended June 30,





2022


2021


Change










REPORTED EARNINGS1




$          258


$       1,293


$      (1,035)










     Pre-tax loss (income)2


1,638


322


1,316

     Income tax2


(238)


(94)


(144)

Adjustments to reported earnings

1,400


228


1,172










OPERATING EARNINGS

$       1,658


$       1,521


$          137

     By segment:






     Dominion Energy Virginia

958


865


93

     Gas Distribution

419


346


73

     Dominion Energy South Carolina

233


186


47

     Contracted Assets

121


254


(133)

     Corporate and Other

(73)


(130)


57





$       1,658


$       1,521


$          137










Earnings Per Share (EPS):3






REPORTED EARNINGS1




$         0.25


$         1.56


$        (1.31)

Adjustments to reported earnings (after tax)

1.69


0.28


1.41

OPERATING EARNINGS

$         1.94


$         1.84


$         0.10

     By segment:






     Dominion Energy Virginia

1.18


1.07


0.11

     Gas Distribution

0.51


0.43


0.08

     Dominion Energy South Carolina

0.29


0.23


0.06

     Contracted Assets

0.15


0.31


(0.16)

     Corporate and Other

(0.19)


(0.20)


0.01





$         1.94


$         1.84


$         0.10

Common Shares Outstanding (average, diluted)



832.3


806.3





















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. As a result of a reported net loss for the three months ended June 30, 2022, any adjustments to earnings or shares would be considered antidilutive and are excluded from the calculation of diluted earnings per share. Effective January 2022, the calculation of diluted reported and operating earnings per share assumes conversion, if dilutive, of the Series A preferred stock to common stock as of January 1, 2022. The Series A preferred stock was reclassified to a liability in June 2022. In prior periods, a fair value adjustment of the Series A preferred stock was included in the calculation of diluted reported earnings per share if dilutive. No adjustments were necessary for the three and six months ended June 30, 2021. During each quarter of 2022, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of $9 million (Series B) and $11 million (Series C, issued in December 2021). Reported earnings per share for the three and six months ended June 30, 2022 also includes the impact of preferred dividends associated with Series A preferred stock of $5 million and $12 million, respectively.  During each quarter of 2021, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of $7 million (Series A) and $9 million (Series B). See Forms 10-Q and 10-K for additional information.

 

Schedule 2 - Reconciliation of 2022 Reported Earnings to Operating Earnings

2022 Earnings (Six months ended June 30, 2022)  

The $1.6 billion pre-tax net loss of the adjustments included in 2022 reported earnings, but excluded from operating earnings, is primarily related to the following items:

  • $382 million net market loss associated with nuclear decommissioning trusts and economic hedging activities.
  • $649 million loss associated with the sale of Kewaunee nuclear power station.
  • $535 million of regulated asset retirements and other charges, including $371 million of charges for certain Virginia Power fuel and Regional Greenhouse Gas Initiative (RGGI) compliance costs deemed recovered through base rates and $122 million associated with the settlement of Virginia Power's 2021 triennial review.
  • $94 million of storm damage and restoration costs associated with storms in Virginia Power's service territory.







(millions, except per share amounts)

1Q22

2Q22

3Q22

4Q22

YTD 2022

Reported earnings

$711

($453)

$0

$0

$258

Adjustments to reported earnings 1:






    Pre-tax loss (income)

255

1,383

0

0

1,638

    Income tax

34

(272)

0

0

(238)



289

1,111

0

0

1,400

Operating earnings

$1,000

$658

$0

$0

$1,658

Common shares outstanding (average, diluted) 

832.0

832.5

0.0

0.0

832.3

Reported earnings per share 2

$0.83

($0.58)

$0.00

$0.00

$0.25

Adjustments to reported earnings per share 2

0.35

1.35

0.00

0.00

1.69

Operating earnings per share 2

$1.18

$0.77

$0.00

$0.00

$1.94








1) Adjustments to reported earnings are reflected in the following table:








1Q22

2Q22

3Q22

4Q22

YTD 2022

Pre-tax loss (income):






    Net loss on Nuclear Decommissioning Trust (NDT) funds

$125

$454

$0

$0

$579

    Mark-to-market impact of economic hedging activities

(4)

(193)

0

0

(197)

    Discontinued operations - Gas Transmission & Storage segment

(25)

3

0

0

(22)

    Sale of Kewaunee

0

649

0

0

649

    Regulated asset retirements and other charges

65

470

0

0

535

    Storm damage and restoration costs

94

0

0

0

94










$255

$1,383

$0

$0

$1,638

Income tax expense (benefit):






   Tax effect of above adjustments to reported earnings *

(53)

(275)

0

0

(328)

   Deferred taxes associated with Hope Gas, Inc. divestiture4

87

3

0

0

90










$34

($272)

$0

$0

($238)









* 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.

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. As a result of a reported net loss for the three months ended June 30, 2022, any adjustments to earnings or shares would be
    considered antidilutive and are excluded from the calculation of diluted earnings per share.  Effective January 2022, the calculation of
    diluted reported and operating earnings per share assumes conversion, if dilutive, of the Series A preferred stock to common stock as of
    January 1, 2022. The Series A preferred stock was reclassified to a liability in June 2022. During each quarter of 2022, the
    calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of
    $9 million (Series B) and $11 million (Series C, issued in December 2021).  Reported earnings per share for the three and six months
    ended June 30, 2022 also includes the impact of preferred dividends associated with Series A preferred stock of $5 million and $12
    million, respectively.  See Forms 10-Q and 10-K for additional information.

3) YTD EPS may not equal sum of quarters due to share count difference.

4) Represents deferred taxes related to the basis in Hope Gas, Inc.'s stock that will reverse upon completion of the sale.

 

Schedule 3 - Reconciliation of 2021 Reported Earnings to Operating Earnings

2021 Earnings (Twelve months ended December 31, 2021)  

The $26 million pre-tax net gain of the adjustments included in 2021 reported earnings, but excluded from operating earnings, is primarily related to the following items:

  • $308 million net market benefit associated with $568 million from the nuclear decommissioning trusts offset by $260 million in economic hedging activities.
  • $829 million of net income from discontinued operations, including $685 million associated with the sale of Questar Pipelines.
  • $564 million of regulated asset retirements and other charges, including $266 million associated with the settlement of the South Carolina electric rate case, primarily for the write-off of regulatory assets for debt repurchased in 2019, $186 million associated with the settlement of Virginia Power's 2021 triennial review and $77 million for forgiveness of Virginia customer accounts in arrears pursuant to Virginia's 2021 budget process.
  • $235 million of net charges associated with the sales of non-wholly-owned nonregulated solar facilities.
  • $99 million of net merger and integration-related costs associated with the SCANA Combination, primarily for litigation charges.
  • $77 million of net charges associated with workplace realignment, primarily related to a corporate office lease termination.
  • $68 million of storm damage and restoration costs associated with ice storms in Virginia Power's service territory.

 








(millions, except per share amounts)

1Q21

2Q21

3Q21

4Q21

YTD 2021

Reported earnings

$      1,008

$               285

$          654

$      1,341

$         3,288

Adjustments to reported earnings 1:






    Pre-tax loss (income)

(152)

474

413

(761)

(26)

    Income tax

37

(131)

(149)

172

(71)



(115)

343

264

(589)

(97)

Operating earnings

$          893

$               628

$          918

$          752

$         3,191

Common shares outstanding (average, diluted) 

805.9

806.6

810.0

811.0

808.5

Reported earnings per share 2

$         1.23

$             0.33

$         0.79

$         1.63

$            3.98

Adjustments to reported earnings per share 2

(0.14)

0.43

0.32

(0.73)

(0.12)

Operating earnings per share 2

$         1.09

$             0.76

$         1.11

$         0.90

$            3.86








1) Adjustments to reported earnings are reflected in the following table:








1Q21

2Q21

3Q21

4Q21

YTD 2021

Pre-tax loss (income):






    Net (gain) loss on NDT funds

$        (134)

$             (194)

$             19

$        (259)

$           (568)

    Mark-to-market impact of economic hedging activities

(278)

291

284

(37)

260

    Discontinued operations - Gas Transmission & Storage segment

(35)

(30)

(59)

(705)

(829)

    Regulated asset retirements and other charges

100

278

119

67

564

    Sales of non-wholly-owned nonregulated solar facilities

-

-

23

212

235

    Merger litigation and integration charges

71

48

8

(28)

99

    Workplace realignment

71

-

17

(11)

77

    Storm damage and restoration costs

51

17

-

-

68

    Kewaunee decommissioning revision

-

44

-

-

44

    Other

2

20

2

-

24










$        (152)

$               474

$          413

$        (761)

$              (26)

Income tax expense (benefit):






   Tax effect of above adjustments to reported earnings *

37

(131)

(140)

204

(30)

   Other

-

-

(9)

(32)

(41)










$             37

$             (131)

$        (149)

$          172

$              (71)

 

* Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes,

   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.






2) The calculation of operating earnings per share excludes the impact, if any, of fair value adjustments related to the Company's convertible preferred

   securities entered in June 2019. Such fair value adjustments, if any, are required for the calculation of diluted reported earnings per share. No

   adjustments were necessary for the three months ended March 31, June 30 or September 30 or for the three and twelve months ended December 31. 

   During each quarter of 2021, the calculation of reported and operating earnings per share includes the impact of preferred dividends of $7 million

    associated with the Series A preferred stock equity units and $9 million associated with the Series B preferred stock equity units. In addition, the 

   fourth quarter of 2021 includes $3 million of preferred dividends associated with the Series C preferred stock issued in December 2021. 


   See Forms 10-Q and 10-K for additional information.






3)  YTD EPS may not equal sum of quarters due to share count difference and fair value adjustment associated with the convertible preferred 

   securities.













 

Schedule 4 - Reconciliation of 2Q22 Earnings to 2Q21













Preliminary, Unaudited

Three Months Ended


Six Months Ended

(millions, except EPS)

June 30,


June 30,



2022 vs. 2021


2022 vs. 2021



Increase / (Decrease)


Increase / (Decrease)

Reconciling Items

Amount

EPS


Amount

EPS








Change in reported earnings (GAAP)

($738)

($0.91)


($1,035)

($1.31)









Change in Pre-tax loss (income) 1

909



1,316



Change in Income tax 1

(141)



(144)


Adjustments to reported earnings

$768

$0.92


$1,172

$1.41








Change in consolidated operating earnings

$30

$0.01


$137

$0.10








Dominion Energy Virginia







Regulated electric sales:







Weather

($7)

($0.01)


$7

$0.01


Other

77

0.10


68

0.08


Rider equity return

12

0.01


28

0.03


Electric capacity

(4)

-


(12)

(0.01)


Storm damage and restoration costs

(8)

(0.01)


(8)

(0.01)


Depreciation & amortization

9

0.01


16

0.02


Renewable energy investment tax credits

(38)

(0.05)


23

0.03


Interest expense, net

(8)

(0.01)


(11)

(0.01)


Other

(24)

(0.02)


(18)

(0.02)


Share dilution


(0.01)



(0.01)


Change in contribution to operating earnings

$9

$0.01


$93

$0.11








Gas Distribution







Regulated gas sales:







Weather

-

-


$2

-


Other

20

0.02


54

0.07


Rider equity return

5

0.01


13

0.02


Interest expense, net

(3)

-


(2)

-


Other

8

-


6

-


Share dilution


-



(0.01)


Change in contribution to operating earnings

$30

$0.03


$73

$0.08








Dominion Energy South Carolina







Regulated electric sales:







Weather

$12

$0.01


$13

$0.02


Other

23

0.03


38

0.05


Regulated gas sales

1

-


4

-


Interest expense, net

(3)

-


(3)

-


Other

7

0.01


(5)

(0.01)


Share dilution


-



-


Change in contribution to operating earnings

$40

$0.05


$47

$0.06








Contracted Assets







Margin

($24)

($0.03)


($27)

($0.03)


Sale of non-wholly-owned nonregulated solar facilities

(10)

(0.01)


(9)

(0.01)


Planned outage costs

(45)

(0.06)


(49)

(0.06)


Renewable energy investment tax credits

-

-


(29)

(0.04)


Interest expense, net

(13)

(0.02)


(25)

(0.03)


Other

8

0.01


6

0.01


Share dilution


-



-


Change in contribution to operating earnings

($84)

($0.11)


($133)

($0.16)








Corporate and Other







Interest expense, net

$24

$0.03


$56

$0.07


Other

11

0.01


1

-


Share dilution

-

(0.01)


-

(0.06)


Change in contribution to operating earnings

$35

$0.03


$57

$0.01















Change in consolidated operating earnings

$30

$0.01


$137

$0.10








Change in adjustments included in reported earnings1

($768)

($0.92)


($1,172)

($1.41)








Change in consolidated reported earnings

($738)

($0.91)


($1,035)

($1.31)















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.






Note: Figures may not sum due to rounding













 

Cision View original content:https://www.prnewswire.com/news-releases/dominion-energy-announces-second-quarter-2022-earnings-301601205.html

SOURCE Dominion Energy

FAQ

What were Dominion Energy's second-quarter 2022 earnings results?

Dominion Energy reported a net loss of $0.58 per share and operating earnings of $0.77 per share for Q2 2022.

What is Dominion Energy's guidance for third-quarter 2022 operating earnings?

Dominion Energy expects third-quarter operating earnings to range between $0.98 and $1.13 per share.

How does Dominion Energy define operating earnings?

Operating earnings are reported earnings adjusted for certain items, providing a clearer picture of the company’s fundamental earnings power.

What is the full-year 2022 operating earnings guidance for Dominion Energy?

Dominion Energy affirms its full-year operating earnings guidance to be between $3.95 and $4.25 per share.

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