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DOMINION ENERGY, INC 8-K Report, Financial Results (May 1, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 1, 2026
Period End
May 1, 2026
Security
D
In the record · 2016–202610-K1110-Q328-K223

D filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 223 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Jan ’17Jan ’17
  2. Material agreement8-K · Mar ’19Mar ’19
  3. Material agreement8-K · Jul ’21Jul ’21
  4. Leadership change8-K · Jul ’25Jul ’25

01—Abstract

Summary

Summary of the 8-K filed May 1, 2026. Cited figures are marked; the original filing is the authoritative source.

Dominion Energy reported unaudited first-quarter 2026 GAAP net income attributable to the company of $621 milliona, or $0.69 per diluted share, down from $665 million ($0.77 per share) in Q1 2025.

Operating earnings (the non-GAAP measure management uses as its primary performance metric) rose to $847 millionb, or $0.95 per share, versus $803 million ($0.93 per share) a year earlier, an increase of about 2%. The gap between GAAP and operating results was driven mainly by a $335 million pre-tax charge-type adjustment, including a $154 million net loss on nuclear decommissioning trust funds, a $40 million mark-to-market loss on economic hedges, a $120 million severe weather impact, a $78 million impairment of nonregulated solar facilities, and a $58 million benefit tied to CVOW costs not expected to be recovered from customers. The operating story was led by Dominion Energy Virginia, which contributed $670 million ($0.76 per share) versus $561 million a year earlier, helped by the 2025 Biennial Review, higher rider equity returns, and weather.

Dominion Energy South Carolina declined to $126 millionc from $152 million, and Corporate and Other losses widened to $68 million from $19 million, largely from higher interest expense. Contracted Energy edged up to $119 million. Diluted share count rose to 880.1 million from 852.2 million, which dilutes per-share growth and is a key reason EPS grew only $0.02 despite a $44 million increase in operating earnings.

Management affirmed its full-year 2026 operating earnings guidance of $3.45 to $3.69d per share (midpoint $3.57) and all other financial guidance from the fourth-quarter 2025 call, including credit, dividend, and long-term growth targets. Investors should note that the release is preliminary and unaudited, and that reported earnings can diverge meaningfully from operating earnings because of nuclear trust returns, hedge mark-to-market moves, and weather or impairment items that management cannot forecast.

02—Key points

Key Highlights

  1. Q1 2026 operating earnings of $847 million ($0.95/share), up from $803 million ($0.93/share) in Q1 2025, a 2% EPS increase.
  2. GAAP net income attributable to Dominion fell to $621 million ($0.69/share) from $665 million ($0.77/share), driven by $335 million in pre-tax adjustments.
  3. Dominion Energy Virginia was the main growth driver at $670 million in operating earnings (up from $561 million), aided by the 2025 Biennial Review and higher rider equity returns.
  4. Dominion Energy South Carolina operating earnings declined to $126 million from $152 million, and Corporate and Other losses widened to $68 million from $19 million.
  5. Adjustments included a $154 million NDT net loss, a $78 million nonregulated solar impairment, a $120 million DEV severe weather impact, and a $58 million CVOW-related benefit.
  6. Full-year 2026 operating EPS guidance of $3.45 to $3.69 (midpoint $3.57) was affirmed, along with all prior credit, dividend, and long-term growth guidance.
  7. Average diluted shares rose to 880.1 million from 852.2 million, a meaningful headwind to per-share growth.

03—Questions

Frequently Asked Questions

  1. Why did GAAP EPS decline while operating EPS increased?

    GAAP EPS fell to $0.69 from $0.77 mainly because of $335 million in pre-tax adjustments excluded from operating earnings, including a $154 million loss on nuclear decommissioning trust funds, a $120 million severe weather impact, a $78 million solar impairment, and a $40 million hedge mark-to-market loss. Operating earnings reflect underlying performance and rose to $0.95 per share.

  2. Did Dominion change its full-year 2026 guidance?

    No. Dominion affirmed its 2026 operating earnings guidance of $3.45 to $3.69 per share, with a midpoint of $3.57, and reaffirmed all other financial guidance from its Q4 2025 earnings call, including credit, dividend, and long-term growth targets.

  3. What drove the strong performance at Dominion Energy Virginia?

    Virginia contributed $670 million in operating earnings versus $561 million a year earlier. Key positives included $105 million from the 2025 Biennial Review, $84 million from higher rider equity return, and $32 million from weather. These were partly offset by higher electric capacity expense of $42 million and increased salaries and administrative costs of $34 million.

  4. Why did South Carolina and Corporate and Other earnings weaken?

    South Carolina operating earnings fell $26 million, primarily due to a $33 million decline in 'other' items, partly offset by customer usage and base rate gains. Corporate and Other losses widened by $49 million, mainly from $45 million of higher net interest expense.

  5. Are these results final?

    No. The figures are preliminary and unaudited. Investors should review the company's Form 10-Q for the quarter, which will contain the complete financial statements and notes, for final reported results.

04—Continue

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