D · DOMINION ENERGY, INC

575 filings

D SEC Filings

DOMINION ENERGY, INC - 575 total filings

Filing record · 2016–202610-K1110-Q328-K223

Showing 1–50 of 575 filings

DOMINION ENERGY, INC 8-K Report, Regulation FD Disclosure (Sep 14, 2026)

On September 14, 2026, Dominion Energy (NYSE: D) furnished an 8-K under Item 7.01 (Regulation FD) disclosing an enhanced Virginia benefits package tied to its previously announced combination with NextEra Energy (NYSE: NEE). The package is designed to address feedback from Virginia policymakers and stakeholders and is contingent on approval and closing of the combination. Key customer commitments include doubling the $10 monthly residential bill credit from two years to four years (partly by redirecting credits that would otherwise go to data centers), a $100 million increase in the EnergyShare low-income assistance program through 2038, and continued hold-harmless protection from all merger costs. Economic commitments include 1,000 new direct jobs (600 NextEra and 400 supplier jobs), maintaining Virginia headcount for five years, a shareholder-funded co-headquarters tower in Richmond, a $100 million workforce development fund, and a Virginia Supplier Program of up to $1 billion annually for five years. For investors, the filing is primarily a regulatory-positioning document rather than a change in financial guidance. The companies did not disclose quantified financial impacts on earnings, synergies, or capital expenditures in this filing, and the shareholder-funded nature of several commitments (the tower, EnergyShare expansion, workforce fund, and increased charitable giving) implies potential cost absorbed by shareholders, though amounts beyond the stated figures are not quantified. The package also reaffirms the existing $1.78 billion in bill credits over two years and the separate regulatory structure of Dominion Energy Virginia, including its SCC oversight and biennial base rate reviews. The transaction remains subject to Virginia SCC and other regulatory approvals, the Hart-Scott-Rodino waiting period, and customary closing conditions. The companies continue to expect closing in the second half of 2027. The commitments will be governed by the terms ultimately approved by regulators, so investors should view them as subject to change during the review process.

Sep 14, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Shareholder Vote Results (Sep 3, 2026)

Dominion Energy, Inc. (D) has filed an 8-K detailing the results of its special shareholder meeting held on September 3, 2026. The primary focus of this meeting was the proposed merger with NextEra Energy, Inc. Shareholders overwhelmingly approved the merger agreement and the associated plan of merger, indicating strong support for this significant transaction. This approval is a critical step forward in the process of Dominion Energy combining with NextEra Energy. In addition to the merger itself, shareholders also approved, on an advisory basis, the compensation related to named executive officers in connection with the merger. The proposal to adjourn the meeting for additional proxy solicitation was also approved, though ultimately not needed as sufficient votes were present for the merger. The absence of broker non-votes on any proposal suggests a high level of direct shareholder engagement on these important matters.

Sep 3, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Aug 25, 2026)

Dominion Energy, Inc. (D) has filed a Current Report on Form 8-K to provide supplemental disclosures related to its previously announced merger agreement with NextEra Energy, Inc. (NextEra Energy). This filing addresses ongoing litigation and demand letters from shareholders alleging disclosure deficiencies in the definitive proxy statement. While Dominion Energy believes these allegations are without merit, it is voluntarily providing additional information to avoid potential delays and minimize expenses associated with the litigation. The supplemental disclosures primarily update the financial analyses performed by NextEra Energy's financial advisors, Lazard Frères & Co. LLC and BofA Securities, Inc., as well as Dominion Energy's own financial advisors, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC. These updates provide more granular details on valuation methodologies, comparable company analyses, precedent transactions, and discounted cash flow analyses for various business segments of both Dominion Energy and NextEra Energy. Investors should note that this 8-K filing does not change the core terms of the merger agreement but serves to provide further context and transparency regarding the transaction. The company reiterates its belief that the allegations in the shareholder actions are without merit and denies any wrongdoing. The special meeting of Dominion Energy shareholders to vote on the merger agreement is scheduled for September 3, 2026. The company cautions that additional similar demand letters or complaints may be received or filed.

Aug 25, 2026 10-Q

DOMINION ENERGY, INC Quarterly Report for Q2 Ended Jun 30, 2026

Dominion Energy reported a significant decrease in net income attributable to the company for the three and six months ended June 30, 2026, compared to the same periods in 2025. This decline was primarily driven by a substantial impairment charge related to nonregulated renewable natural gas facilities, higher unrealized losses on economic hedging activities, and increased interest expenses on long-term debt. These factors were partially offset by benefits from the revision of asset retirement obligations for Millstone Unit 1, increased investment gains on nuclear decommissioning trust funds, and positive impacts from capital investments and regulatory reviews at Virginia Power. Financially, the company saw an increase in operating revenue primarily due to higher fuel-related revenues and increased recovery of non-fuel rider costs at Virginia Power, though this was partially offset by a net decrease related to market price impacts at Millstone. The company's overall liquidity remains supported by its joint revolving credit facility, with substantial unused capacity available. The proposed merger with NextEra Energy remains a key event, with various regulatory approvals pending, which could significantly impact the company's future structure and operations.

Jul 31, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Financial Results (Jul 31, 2026)

Dominion Energy reported preliminary unaudited second-quarter 2026 results with GAAP net income of $340 million ($0.37 per diluted share), down from $760 million ($0.88) a year earlier. Operating earnings (non-GAAP), the company's primary performance measure, rose to $712 million ($0.79 per share) from $649 million ($0.75), a 5% increase. The gap between the two measures reflects a $372 million after-tax adjustment, driven mainly by $626 million of pre-tax nonregulated asset impairments and other charges, a $153 million pre-tax charge for regulated asset retirements and other items tied largely to Virginia Power's share of CVOW costs not expected to be recovered from customers, and a $69 million mark-to-market loss on economic hedges. These were partly offset by a $495 million pre-tax gain on nuclear decommissioning trust funds. Revenue rose 18% to $4.48 billion, and operating expenses increased sharply, with other operations and maintenance roughly doubling to $1.88 billion, largely because of the impairments. Dominion Energy Virginia was the main driver of operating earnings growth, contributing $670 million versus $549 million, helped by 2025 Biennial Review impacts and rider equity returns. Dominion Energy South Carolina was roughly flat, and Contracted Energy declined. Corporate and Other losses widened to $94 million, largely from higher interest expense. Management reaffirmed full-year 2026 operating earnings guidance of $3.45 to $3.69 per share (midpoint $3.57) and all other financial guidance from the fourth-quarter 2025 call. Six-month operating EPS of $1.75 is consistent with that range. The filing also references a pending merger with NextEra Energy, which the forward-looking statements identify as a source of uncertainty, but the 8-K does not describe its terms or timing.

Jul 31, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Jun 16, 2026)

Dominion Energy, Inc. (D) has announced the successful underwriting of $1.5 billion in aggregate principal amount of Junior Subordinated Notes due 2056. This offering is split into two tranches: $1.0 billion of 2026 Series A Junior Subordinated Notes and $500 million of 2026 Series B Junior Subordinated Notes. These notes were registered under a previously effective Form S-3 registration statement and will be issued under specific supplemental indentures to the Company's existing Junior Subordinated Indenture II. The issuance of these junior subordinated notes represents a significant capital raise for Dominion Energy. Investors should note that these are junior subordinated notes, meaning they rank lower in priority of payment than senior debt, which carries higher risk but typically offers a higher yield. The proceeds from this offering are expected to be used for general corporate purposes, which may include funding capital expenditures and refinancing existing debt.

Jun 16, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Jun 5, 2026)

Dominion Energy, Inc. (D) has announced the issuance of $825 million in 5.35% Senior Notes due 2036. This offering, facilitated by an underwriting agreement with several prominent financial institutions, marks a significant debt financing event for the company. The notes were registered under a shelf registration statement filed in October 2025, indicating that this issuance was anticipated as part of Dominion Energy's ongoing capital management strategy. Investors should note that this issuance increases the company's outstanding debt. The specific use of proceeds is not detailed in this 8-K filing, but such debt issuances are typically used to fund capital expenditures, refinance existing debt, or for general corporate purposes. The 5.35% coupon rate provides a clear indication of the cost of this new debt, which will impact the company's future interest expense and profitability. Investors should review the full terms of the underwriting agreement and supplemental indenture for further details.

Jun 5, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (May 22, 2026)

This 8-K filing from Dominion Energy, Inc. (D) provides an update on its previously announced merger agreement with NextEra Energy, Inc. The report reiterates that the merger is subject to numerous closing conditions, including shareholder approvals from both companies, expiration of antitrust waiting periods, and crucial regulatory consents from various federal and state bodies. Importantly, these approvals may come with "burdensome conditions" that could materially impact the combined company or even prevent the merger from closing. Dominion Energy is also highlighting the significant risks associated with the potential failure to complete the merger, including negative market reactions, reputational harm, employee retention issues, substantial transaction costs, and potential litigation. The filing also emphasizes that Dominion Energy is restricted from pursuing alternative acquisition proposals and is limited in its ability to conduct business outside the ordinary course during the pendency of the merger. This "no-shop" provision and business restrictions could discourage competing offers and limit strategic flexibility. Furthermore, the ongoing uncertainty surrounding the merger could disrupt business relationships, affect regulatory interactions, and impact employee morale. If completed, there is no guarantee the merger will achieve its anticipated benefits due to integration challenges and potential regulatory impositions.

May 22, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Material Agreement (May 18, 2026)

On May 15, 2026, Dominion Energy (NYSE: D) agreed to be acquired by NextEra Energy (NYSE: NEE) in an all-stock merger structured as a two-step transaction (a First Merger with Dominion surviving as a wholly owned subsidiary, followed immediately by a Second Merger into an NextEra LLC subsidiary). Each Dominion share will convert into 0.8138 NextEra shares plus a pro rata share of a $360 million one-time cash payment, with fractional shares settled in cash. The companies describe the deal as creating the largest regulated electric utility by market capitalization, with pro forma NextEra shareholders owning about 74.5% and Dominion shareholders about 25.5% of the combined company, and an expected close in 12 to 18 months. For Dominion investors, the key economics are the exchange ratio, the cash payment, and the dividend path. Dominion shareholders keep receiving the current quarterly dividend through closing, then participate in NextEra's dividend policy (6% annual growth through 2028 per the investor presentation). Dominion's Series C preferred stock must be redeemed before closing if the merger has not closed by January 15, 2027. The deal carries a $2.24 billion termination fee payable by Dominion in specified circumstances, and a $6.52 billion fee payable by NextEra in comparable circumstances, plus a $4.83 billion regulatory-related fee payable by NextEra. Closing requires Dominion and NextEra shareholder approvals, HSR clearance, and approvals from FERC, the NRC, and the state commissions in Virginia, North Carolina and South Carolina, with an outside date of November 15, 2027 (extendable to August 15, 2028). The filing is primarily a disclosure of a signed agreement, so investors should weigh the announced benefits (a $2.25 billion customer bill credit program, the dual headquarters commitment, and projected 9%+ adjusted EPS growth for the combined company) against execution and regulatory risk. Shares of Dominion will be delisted and deregistered upon closing, so the investment thesis will shift from Dominion stock to NextEra stock at the exchange ratio.

May 18, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Shareholder Vote Results (May 7, 2026)

Dominion Energy, Inc. (D) filed an 8-K on May 7, 2026, detailing the results of its 2026 Annual Meeting of Security Holders held on May 5, 2026. The primary focus of this filing is the outcome of various shareholder votes. Importantly, all 11 director nominees were overwhelmingly elected to the Board of Directors, indicating strong shareholder confidence in the current leadership and governance structure. Additionally, shareholders approved, on an advisory basis, the executive compensation package, commonly referred to as "Say on Pay," demonstrating support for the company's compensation policies. The meeting also saw the ratification of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, a standard but crucial vote of confidence in the company's financial oversight. However, several shareholder proposals, including those requesting an independent board chair, a report on ESG and DEI metrics in executive compensation, and additional shareholder engagement channels, did not receive majority support and were therefore not approved. This suggests a preference by a significant portion of the shareholders for the current operational and governance approaches over the proposed changes.

May 7, 2026 10-Q

DOMINION ENERGY, INC Quarterly Report for Q1 Ended Mar 31, 2026

Dominion Energy (D) reported a decrease in net income attributable to the company to $621 million for the first quarter of 2026, down from $665 million in the same period of 2025. This decline was primarily driven by increased interest expenses on long-term debt and unrealized losses on economic hedging activities, alongside an impairment charge related to non-regulated solar generation facilities. However, these impacts were partially offset by higher rider equity returns, reflecting capital investments at Virginia Power, and the benefits from Virginia Power's 2025 Biennial Review. Operating revenue saw a significant increase of 23% year-over-year, largely due to higher fuel-related revenue and increased recovery of costs associated with Virginia Power's non-fuel riders and the 2025 Biennial Review. The company continues to advance its major projects, notably the CVOW Commercial Project, with significant onshore and offshore construction activities progressing. The estimated total project cost for CVOW is approximately $11.4 billion, with the majority of turbines expected to be in service by the end of 2026. Management anticipates issuing between $6.0 billion and $9.5 billion in long-term debt during 2026 to fund capital expenditures and maturing debt.

May 1, 2026 8-K

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

Dominion Energy reported unaudited first-quarter 2026 GAAP net income attributable to the company of $621 million, 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 million, 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 million 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 $3.69 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.

May 1, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Material Agreement (Apr 8, 2026)

Dominion Energy, Inc. (D) has announced a significant update to its credit facilities through an 8-K filing on April 8, 2026. The company has amended its Sustainability Revolving Credit Agreement, originally dated June 9, 2021, extending the maturity date to April 7, 2029. Importantly, the amendment allows for the possibility of two additional one-year extensions, providing further flexibility and longer-term access to these funds subject to certain conditions. In addition to the sustainability-focused credit line, Dominion Energy, along with its subsidiaries Virginia Electric and Power Company and Dominion Energy South Carolina, Inc., has successfully secured an extension for their Core Revolving Credit Agreement. This agreement, originally amended and restated on April 8, 2025, will now mature on April 8, 2031, following lender consent. These credit facility extensions are crucial for maintaining the company's liquidity and financial flexibility to support its ongoing operations and strategic initiatives.

Apr 8, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Financial Results (Feb 23, 2026)

Dominion Energy (NYSE: D) reported preliminary, unaudited 2025 results in an 8-K furnished on February 23, 2026. Full-year 2025 GAAP net income attributable to the company was $2,998 million, or $3.45 per diluted share, up from $2,034 million ($2.33) in 2024. Operating earnings (non-GAAP), the company's primary performance measure, were $2,966 million, or $3.42 per share, versus $2,392 million ($2.77) a year earlier, a gain of roughly 23%. Fourth-quarter 2025 GAAP EPS was $0.65 and operating EPS was $0.68, compared with $0.14 and $0.58 in the prior-year quarter. The gap between GAAP and operating results in 2025 was small, driven mainly by a $507 million nuclear decommissioning trust gain, a $131 million pension/OPEB mark-to-market gain, a $153 million economic hedging loss, and $258 million of regulated asset retirement and other charges tied largely to Virginia Power's share of uncovered costs on the CVOW commercial project. The operating earnings growth was led by Dominion Energy Virginia, which contributed $2,325 million ($2.72 per share) versus $2,011 million ($2.40) in 2024, supported by a $507 million rider equity return and customer usage gains, partly offset by a $275 million impact from the sale of a noncontrolling interest. South Carolina and Contracted Energy also improved, while Corporate and Other remained a drag at $(332) million. The company guided 2026 operating EPS to $3.45 to $3.69 (midpoint $3.57), which includes $0.07 per share of RNG 45Z income. It also extended its 5% to 7% long-term operating EPS growth target through 2030, with a bias toward the upper half for 2028 to 2030, and reaffirmed its credit and dividend guidance. The filing is a routine earnings disclosure with no new financing or transaction announcements; investors should note that the 2026 guidance range is not reconciled to GAAP because future reported earnings cannot be reliably estimated.

Feb 23, 2026 10-K

DOMINION ENERGY, INC Annual Report, Year Ended Dec 31, 2025

Dominion Energy, Inc. (D) reported strong financial performance for the fiscal year ending December 31, 2025, with net income attributable to Dominion Energy increasing by 47% to $2,998 million, or $3.45 per diluted share. This growth was driven by several factors including higher market-related impacts on pension and other postretirement plans, increased rider equity returns reflecting significant capital investments at Virginia Power, and favorable rate case settlements in South Carolina. The company continued its strategic focus on expanding and improving its regulated electric utilities and long-term contracted businesses while transitioning to cleaner energy. Key investments are being made in zero-carbon and renewable generation, grid transformation, and transmission and distribution resiliency, supported by an approximately $65 billion capital expenditure plan for 2026 through 2030. The significant progress on the CVOW Commercial Project, despite some cost impacts from tariffs and network upgrades, remains a cornerstone of their clean energy strategy. Divestitures of gas distribution operations were completed in 2024, aligning the company with its core regulated electric utility and long-term contracted businesses.

Feb 23, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Executive Changes (Feb 3, 2026)

Dominion Energy, Inc. (D) has filed a Current Report on Form 8-K detailing the approval of its 2026 Annual Incentive Plan (AIP) by the Compensation and Talent Development Committee. This plan outlines a performance-based cash award program for the company's officers, with target incentives tied to a percentage of their base salary. The ultimate payout will hinge on the achievement of specific performance goals, to be set by the committee and drawn from the measures established in the 2024 Incentive Compensation Plan.

Feb 3, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Regulation FD Disclosure (Jan 30, 2026)

Dominion Energy disclosed on January 30, 2026 (via Form 8-K, Items 7.01, 8.01 and 9.01) an update on its Coastal Virginia Offshore Wind (CVOW) project. Estimated total project cost, including contingency and excluding financing costs, rose from approximately $11.2 billion to approximately $11.5 billion, an increase of about $300 million. The increase is driven by $228 million tied to construction delays from the December 2025 BOEM Suspension Order, which was preliminarily enjoined by a federal court on January 16, 2026, and $137 million of incremental tariff recognition. Full project completion has slipped to early 2027, and the final turbine installation is now expected after February 4, 2027. For Dominion, the financial exposure is governed by the 2022 Virginia SCC cost-sharing settlement. Costs up to $10.3 billion are borne by customers, costs between $10.3 billion and $11.3 billion are split 50/50 between customers and shareholders, and costs above $11.3 billion fall entirely on shareholders. Stonepeak is funding 50% of remaining project costs through non-controlling equity. Dominion's remaining funding need is about $1.2 billion of the roughly $2.2 billion still to be spent, against about $9.3 billion invested through December 31, 2025. Unused contingency has fallen to $155 million from $206 million the prior quarter, and management notes that further tariff-related and other unfixed costs remain. The company states there is no change to its operating EPS or credit-related financial guidance. Management expects the fourth-quarter 2025 earnings to reflect the budget increase for tariffs through March 31, 2026. The presentation reaffirms first delivery of electricity in Q1 2026 and states the project is about 71% complete. Levelized cost of electricity is unchanged at $84/MWh, within the original $80 to $90/MWh range and below the $125/MWh (2018 dollars) legislative prudency cap. Management estimates the net residential bill impact attributable to CVOW at a $0.57 monthly credit over the project's life, slightly improved from the prior $0.63 credit. Investors should weigh the schedule slippage, the remaining tariff exposure on European Union, Mexico, Canada and steel inputs, and the thin contingency buffer against the company's assertion that cost and earnings guidance are unaffected.

Jan 30, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Regulation FD Disclosure (Jan 20, 2026)

Dominion Energy, Inc. (D) has filed an 8-K report detailing a significant development regarding its Coastal Virginia Offshore Wind (CVOW) project. A U.S. District Court has granted a preliminary injunction, allowing Virginia Electric and Power Company (Virginia Power) to resume work on the CVOW project. This injunction is in response to a December 22, 2025, Director's Order from the U.S. Department of Interior's Bureau of Ocean Energy Management (BOEM) that had suspended project work for 90 days. This development is crucial for investors as it allows for the continuation of the CVOW project, which is a key component of Dominion Energy's future growth strategy. While the legal challenge against the BOEM's order proceeds, the preliminary injunction provides immediate relief, enabling Dominion Energy to maintain momentum on this significant renewable energy initiative. The company's subsidiary, Virginia Power, holds a 50% stake in OSW Project LLC, the entity directly impacted by the BOEM order and now benefiting from the court's injunction.

Jan 20, 2026 8-K

DOMINION ENERGY, INC 8-K Report, Regulation FD Disclosure (Dec 23, 2025)

Dominion Energy (NYSE: D) disclosed in an 8-K filed December 23, 2025 that the U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM) issued a Director's Order, effective immediately on December 22, 2025, directing OSW Project LLC to suspend all ongoing activities on the Coastal Virginia Offshore Wind (CVOW) project for 90 days. Virginia Electric and Power Company, a Dominion subsidiary, holds a 50% membership interest in OSW Project LLC, so the suspension directly affects a joint-venture asset in which Dominion has a significant stake. The filing itself provides no quantified financial impact, cost estimate, schedule revision, or legal-basis detail, so the near-term financial consequences cannot be assessed from this document alone. In its accompanying press release (Exhibit 99.1), Dominion strongly opposed the suspension, arguing that CVOW is essential to national security and to meeting Virginia's rapidly growing electricity demand driven by data centers, military installations, and shipbuilding. The company stated the project is within months of generating 2,600 megawatts, that customers are paying for it under a 2022 review by Virginia regulators, and that it stands ready to resume work quickly. Dominion also noted that stopping the project for any length of time would threaten grid reliability, raise energy costs, and put jobs at risk. For investors, the key questions are the duration and outcome of the 90-day suspension, whether it leads to cost overruns, schedule delays, or contract issues, and how regulators in Virginia will respond to any cost recovery implications. The 90-day window creates a defined near-term checkpoint, but the filing gives no indication of the government's underlying rationale or of any litigation or remedy path Dominion may pursue.

Dec 23, 2025 10-Q

DOMINION ENERGY, INC Quarterly Report for Q3 Ended Sep 30, 2025

Dominion Energy, Inc. reported a strong third quarter and year-to-date performance for 2025, with net income attributable to Dominion Energy increasing by 8% in the third quarter to $1,006 million and by 28% year-to-date to $2,431 million. This growth was primarily driven by higher rider equity returns from capital investments in Virginia Power, increased net investment earnings on nuclear decommissioning trust funds, and favorable rate case settlements. The company also benefited from the absence of certain market-related impacts on pension plans and prior period charges. For the nine months ended September 30, 2025, Dominion Energy's operating revenue increased by 12% to $12,413 million. The company successfully managed operating expenses, although electric fuel and other energy-related purchases rose significantly due to higher commodity costs. Capital expenditures were substantial, reflecting ongoing investments in property, plant, and equipment, particularly in Virginia Power's regulated operations. The company also strengthened its liquidity position, with total cash, restricted cash, and equivalents reaching $1,066 million at the end of the period. Dominion Energy continues to navigate regulatory environments and manage its substantial project pipeline, including the significant offshore wind project.

Oct 31, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Oct 31, 2025)

Dominion Energy, Inc. (D) has announced an expansion of its at-the-market (ATM) equity program, significantly increasing the potential capital raise to $1.8 billion. This strategic move involves extending and entering into new sales agency agreements with a broad array of major financial institutions, including notable additions like CIBC World Markets, MUFG Securities Americas, and TD Securities. These agreements facilitate the potential sale of Dominion Energy common stock over time through various market mechanisms. The primary objective appears to be the generation of capital, likely to support ongoing operational needs, strategic investments, or debt management. The structure of the transactions involves forward sale agreements, which may result in Dominion Energy receiving proceeds upon future settlement. Investors should note the flexibility in settlement options (physical, cash, or net share) which could impact the ultimate cash proceeds or potential future obligations for the company. The company has also filed a registration statement on Form S-3 and a prospectus supplement, indicating preparedness for these equity issuances.

Oct 31, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Financial Results (Oct 31, 2025)

Dominion Energy reported third-quarter 2025 GAAP net income attributable to the company of $1.006 billion, or $1.16 per diluted share, versus $934 million ($1.09) a year earlier. Non-GAAP operating earnings, the company's primary performance measure, were $921 million ($1.06 per share), up from $836 million ($0.98) in 3Q24, a gain of about 8% per share. Year-to-date operating EPS is $2.74 versus $2.19 for the first nine months of 2024 on a reported basis, and the gap is largely explained by Virginia growth and Contracted Energy and South Carolina improvements. The key guidance action is a narrowing of 2025 operating EPS guidance to $3.33-$3.48, which keeps the original $3.40 midpoint. Management now expects results at or above the midpoint assuming normal weather for the rest of the year. The company reaffirmed its 5%-7% long-term operating EPS growth target through 2029, measured off a 2025 midpoint of $3.30 excluding RNG 45Z income, along with its credit and dividend guidance. Quality of earnings deserves attention. The GAAP-to-operating gap was favorable in the quarter, driven mainly by nuclear decommissioning trust gains, partly offset by economic hedging losses. Year-to-date reported EPS of $2.81 exceeds operating EPS of $2.74, and both are affected by mark-to-market swings that management says it cannot forecast. Investors should focus on the operating figures and on the Virginia rider equity return and CVOW cost recovery as the main drivers of the outlook.

Oct 31, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Oct 1, 2025)

On October 1, 2025, Dominion Energy, Inc. disclosed that on September 29, 2025 it entered into an underwriting agreement with BofA Securities, J.P. Morgan Securities and Truist Securities, as representatives of the underwriters, for the sale of $1.25 billion of new junior subordinated notes due 2056: $625 million of 2025 Series A and $625 million of 2025 Series B. Both tranches are reopenings that will form a single series with notes issued August 6, 2025, bringing total outstanding amounts to $1.45 billion for Series A ($825 million plus $625 million) and $1.325 billion for Series B ($700 million plus $625 million). The transaction is a routine capital-markets financing rather than a change in operations or strategy. The notes are junior subordinated obligations, meaning they rank behind the company's senior debt in a liquidation or bankruptcy, and they are issued under existing indentures and a shelf registration statement (Form S-3, effective February 21, 2023). The filing contains no new financial results, guidance, or material event beyond the financing itself. For investors, the key considerations are the incremental leverage and the cost of the hybrid-style debt. Subordinated notes typically carry higher coupons than senior debt, and the 2056 maturity with their structure is generally treated by rating agencies as partial equity credit, which can support leverage metrics. The filing does not disclose the coupon rates or pricing, so those details would need to be checked in the Underwriting Agreement (Exhibit 1.1) or the pricing supplement.

Oct 1, 2025 8-K

DOMINION ENERGY, INC 8-K/A Report, Corporate Update (Aug 25, 2025)

Dominion Energy, Inc. (NYSE: D) filed this Form 8-K Amendment No. 9 on August 25, 2025, under Item 8.01 (Other Events) and Item 9.01. The filing contains no financial results, earnings, or material deal announcements. Its sole purpose is to replace the description of the company's capital stock previously filed as Exhibit 99.1 to Amendment No. 8 (December 17, 2024). The update reflects a change in transfer agent, with Computershare Trust Company, N.A. now serving as transfer agent, registrar, and dividend paying agent for the common stock. The refreshed description is intended for use when SEC forms allow incorporation by reference of the capital stock description. The capitalization snapshot shows authorized capital of 1.77 billion shares, comprising 1.75 billion common and 20 million preferred. As of August 22, 2025, approximately 853 million common shares were outstanding. About 1 million shares of 4.35% Series C Fixed-Rate Cumulative Redeemable Perpetual Preferred Stock ($1,000 liquidation preference per share) were outstanding as of August 25, 2025. The preferred stock ranks senior to common on dividends and liquidation, and common dividends are restricted while preferred accumulated dividends remain unpaid. For investors, the filing is administrative rather than fundamentally informative about operations or valuation. Its value lies in confirming the current share count, preferred stock terms, and governance framework, including Virginia anti-takeover provisions, proxy access rights, and forum selection bylaws. Investors should note that the company has not opted out of Virginia's affiliated-transaction and control-share acquisition statutes, which can affect takeover dynamics.

Aug 25, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Aug 6, 2025)

On August 4, 2025, Dominion Energy, Inc. entered into an underwriting agreement with Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, and Santander US Capital Markets LLC (as representatives of the underwriters) for the sale of two tranches of junior subordinated notes due 2056: $825 million of 2025 Series A Junior Subordinated Notes and $700 million of 2025 Series B Junior Subordinated Notes, totaling $1.525 billion in aggregate principal. The notes were registered under an effective Form S-3 shelf (File No. 333-269879, effective February 21, 2023), so this is a routine shelf takedown rather than a new registration event. The notes will be issued under the Nineteenth and Twentieth Supplemental Indentures, respectively, to the company's June 1, 2006 Subordinated Indenture II, as amended by a 2009 Third Supplemental and Amending Indenture, with Deutsche Bank Trust Company Americas serving as series trustee. The filing includes legal opinions from McGuireWoods LLP covering legality and tax treatment, which are customary for this type of offering. For investors, the key takeaways are that Dominion is raising about $1.5 billion of long-dated, subordinated capital, likely to support its sizable capital expenditure program, and that the filing itself does not disclose the coupon rates, pricing, or use of proceeds. Those details would typically appear in the pricing supplement or subsequent filings, so investors should consult those documents for the cost of capital and the impact on leverage and credit ratings.

Aug 6, 2025 10-Q

DOMINION ENERGY, INC Quarterly Report for Q2 Ended Jun 30, 2025

Dominion Energy, Inc. reported a strong financial performance for the quarter ending June 30, 2025, with net income attributable to the company increasing by 35% to $760 million, or $0.88 per diluted share, compared to the prior year's second quarter. This growth was primarily driven by increased net investment earnings on nuclear decommissioning trust funds and higher rider equity returns at Virginia Power, reflecting significant capital investments. The year-to-date results also showed substantial improvement, with net income up 48% to $1.425 billion, or $1.65 per diluted share, benefiting from the absence of certain pension-related charges and positive contributions from tax credits. These positive trends were partially tempered by the ongoing impact of divestitures, as the company continues to refine its business portfolio. On the balance sheet, Dominion Energy maintained a solid financial position. Total assets grew to $107.4 billion at June 30, 2025, supported by ongoing investments in property, plant, and equipment. Total liabilities also increased, primarily due to higher long-term debt, reflecting the financing of capital expenditures. The company successfully amended and extended its joint revolving credit facility, increasing its capacity to $7.0 billion, enhancing its liquidity position. The company reiterated its 2025 outlook, signaling confidence in its operational performance and strategic initiatives. Investors should note the significant capital expenditures underway, particularly related to the CVOW Commercial Project, which continues to represent a substantial investment and potential source of future regulated growth, though subject to certain tariff impacts and regulatory approvals. The company's focus remains on executing its capital plan while managing operational and regulatory risks.

Aug 1, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Financial Results (Aug 1, 2025)

Dominion Energy reported preliminary unaudited second-quarter 2025 results on August 1, 2025. GAAP net income attributable to Dominion Energy was $760 million ($0.88 per diluted share), up from $563 million ($0.64) in the prior-year quarter. Operating earnings (non-GAAP), the company's primary performance measure, were $649 million ($0.75 per share), compared with $567 million ($0.65) in 2Q24. Operating EPS therefore declined about $0.10 on a per-share basis, while GAAP EPS rose $0.24, mainly because of a $156 million net market benefit (YTD) from nuclear decommissioning trust gains, which are excluded from operating earnings. Operating results were driven by Dominion Energy Virginia, which grew operating EPS to $0.64 from $0.58, supported by rider equity returns and customer usage. Dominion Energy South Carolina rose to $0.13 from $0.08, helped by base rate case impacts. Contracted Energy fell to $0.05 from $0.12, reflecting planned Millstone outage costs. Corporate and Other improved to a $0.07 loss from a $0.13 loss. Six-month operating EPS was $1.68 versus $1.21, a meaningful increase. Management affirmed full-year 2025 operating EPS guidance of $3.28 to $3.52 and all financial guidance from the fourth-quarter 2024 call, including earnings, credit, and dividend guidance. The company also noted that GAAP and operating earnings can diverge due to hedging, decommissioning trust gains and losses, and pension market effects, so reported results may be volatile. Investors should weigh the strong 1H25 operating earnings and reaffirmed guidance against the quarter-to-quarter swings in reported earnings.

Aug 1, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Executive Changes (Jul 1, 2025)

Dominion Energy, Inc. has announced a significant leadership change within its finance department. Ms. Michele L. Cardiff, the current Senior Vice President, Controller, and Chief Accounting Officer, has informed the company of her intention to retire effective October 1, 2025. This marks the end of her tenure in a critical financial oversight role. Following Ms. Cardiff's retirement, the Board of Directors has elected Gary G. Ratliff, Jr. to assume the position of Vice President, Controller, and Chief Accounting Officer, also effective October 1, 2025. Mr. Ratliff, a seasoned executive within Dominion Energy with a strong background in accounting and a CPA certification, has been promoted from his recent role as Vice President – Accounting. His compensation will be adjusted to an annual base salary of $290,035 in his new capacity.

Jul 1, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Executive Changes (Jun 27, 2025)

Dominion Energy, Inc. (D) filed an 8-K on June 26, 2025, detailing two key corporate governance events. First, Mr. Paul M. Dabbar resigned from the Board of Directors effective June 25, 2025, following his confirmation as Deputy Secretary of Commerce. His departure was not attributed to any disagreements with the Company, indicating a smooth transition. Second, on June 26, 2025, Dominion Energy amended and restated its Bylaws. This update aims to provide greater clarity and a formalized process for the Board in designating successor officers should any existing officer position become vacant for any reason. These changes are primarily procedural and do not appear to signal immediate operational or financial shifts, but rather a strengthening of internal governance protocols.

Jun 27, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Executive Changes (Jun 25, 2025)

Dominion Energy, Inc. (D) announced a change to its Board of Directors with the election of Mr. Jeffrey J. Lyash as an independent director, effective June 25, 2025. Mr. Lyash brings extensive experience in the energy sector, having previously served as President and CEO of the Tennessee Valley Authority (TVA) and holding various senior leadership positions at other prominent energy companies, including Ontario Power Generation and Duke Energy. His background also includes service at the U.S. Nuclear Regulatory Commission. Mr. Lyash's appointment to the Board also includes a position on the Safety, Technology, Nuclear and Operations Committee. As an independent director, he will be compensated according to the company's Non-Employees Directors Compensation Plan, receiving annual retainers in both cash and stock. This addition to the Board signifies a strategic move to leverage Mr. Lyash's significant operational and regulatory expertise, particularly in areas critical to Dominion Energy's business, such as nuclear operations and safety.

Jun 25, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (May 13, 2025)

Dominion Energy, Inc. (D) has filed an 8-K report detailing a significant financing transaction. On May 6, 2025, the company entered into an underwriting agreement to issue $1,000,000,000 in aggregate principal amount of its 2025 Series C 4.60% Senior Notes due 2028. This issuance was previously registered under a Form S-3 filing effective February 21, 2023, indicating it was part of an at-the-market or shelf registration strategy. The primary purpose of this filing is to formally announce the terms of this debt issuance and provide the associated legal documentation. This move suggests Dominion Energy is actively managing its capital structure, potentially to fund ongoing operations, capital expenditures, or refinance existing debt. Investors should note the fixed interest rate of 4.60% for these senior notes, which will mature in 2028.

May 13, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Shareholder Vote Results (May 9, 2025)

Dominion Energy, Inc. (D) has filed an 8-K report detailing the results of its 2025 Annual Meeting of Shareholders held on May 7, 2025. The report indicates strong shareholder support for the company's director nominees, with all 11 candidates being elected to the Board of Directors. This demonstrates confidence in the current leadership and governance structure of the company. Furthermore, shareholders provided an advisory "Say on Pay" approval for the compensation of named executive officers, signaling general agreement with the company's executive compensation practices. The appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, was also overwhelmingly ratified, reinforcing trust in the company's financial oversight. A shareholder proposal to remove non-carbon emitting generation goals from executive pay incentives was, however, not approved, indicating a divergence in opinion on specific compensation policy elements.

May 9, 2025 10-Q

DOMINION ENERGY, INC Quarterly Report for Q1 Ended Mar 31, 2025

Dominion Energy (D) reported strong first-quarter 2025 financial results, with net income attributable to Dominion Energy increasing by 46% to $646 million ($0.75 diluted EPS) compared to $441 million ($0.50 diluted EPS) in the prior year's quarter. This substantial improvement was driven by a combination of factors, including higher rider equity returns from increased capital investments at Virginia Power, favorable weather conditions impacting electric utility sales, and reduced unrealized losses on economic hedging activities. The company also benefited from the absence of certain prior-year charges and market-related impacts on pension plans. Operationally, the company saw a 12% increase in total operating revenue, largely due to higher recovery of costs through non-fuel riders, increased electric utility retail sales, and contributions from recent settlements. While expenses saw increases in other operations and maintenance, notably due to severe weather events, these were largely offset by reductions in depreciation and amortization and lower interest expenses. The company continues to advance its significant capital projects, including the CVOW Commercial Project, which is on track for completion by the end of 2026, though subject to potential tariff impacts. Dominion Energy's liquidity remains solid, supported by its credit facilities and a strong operating cash flow.

May 1, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Financial Results (May 1, 2025)

Dominion Energy (NYSE: D) reported first-quarter 2025 GAAP net income attributable to the company of $646 million, or $0.75 per diluted share, up from $441 million ($0.50) in Q1 2024. Operating earnings (non-GAAP), which management uses as its primary performance measure, rose to $803 million ($0.93 per share) from $485 million ($0.55), an increase of $0.38 per share. The gap between GAAP and operating results was driven mainly by a $132 million net loss on nuclear decommissioning trust funds, partly offset by a $22 million mark-to-market gain on economic hedges, with other items such as $82 million of DEV severe weather impacts and $23 million of regulated asset retirements and other charges. Growth was led by Dominion Energy Virginia, whose operating earnings increased $137 million to $561 million ($0.66 per share), helped by a $133 million rider equity return and a $54 million weather benefit, partly offset by a $68 million impact from the sale of a noncontrolling interest. Dominion Energy South Carolina contributed $152 million ($0.18 per share), up from $80 million, on base and RSA rate case impacts. Contracted Energy was slightly lower at $109 million ($0.13 per share), while Corporate and Other improved to a $19 million loss from a $141 million loss a year earlier, mainly reflecting lower interest expense. Management affirmed its full-year 2025 operating earnings guidance of $3.28 to $3.52 per share and all financial guidance from the fourth quarter 2024 earnings call, including guidance on earnings, credit, and dividends. Revenue rose to $4.08 billion from $3.63 billion. Investors should note that the filing is preliminary and unaudited, and that the quarter's reported results are sensitive to market-driven nuclear trust and hedge valuations, so operating earnings may be the more stable guide to underlying performance.

May 1, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Material Agreement (Apr 9, 2025)

Dominion Energy, Inc. (D) has filed an 8-K report detailing significant updates to its credit facilities. The company, along with its subsidiaries Virginia Electric and Power Company and Dominion Energy South Carolina, Inc., has entered into a Sixth Amended and Restated Revolving Credit Agreement (Core Credit Facility) totaling $7 billion. This facility, maturing in April 2030, is a key financial tool designed to support various borrowing needs, including bank borrowings, commercial paper issuance, and letters of credit. This substantial credit line indicates the company's proactive approach to maintaining robust liquidity and financial flexibility.

Apr 9, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Mar 11, 2025)

Dominion Energy, Inc. (D) announced on March 10, 2025, the execution of an underwriting agreement to issue a significant amount of senior notes. The company is raising a total of $1.5 billion through the sale of two tranches of debt: $800 million in 5.00% Senior Notes due 2030 and $700 million in 5.45% Senior Notes due 2035. This offering is part of a shelf registration statement previously filed with the SEC, indicating a strategic move to secure long-term financing. Investors should note that this issuance represents an increase in the company's outstanding debt. The stated interest rates for these notes, 5.00% and 5.45%, provide context for the cost of this new capital. The primary purpose of this filing is to disclose the underwriting agreement and the supplemental indentures related to these new senior notes, offering transparency on Dominion Energy's capital structure and financing activities.

Mar 11, 2025 10-K

DOMINION ENERGY, INC Annual Report, Year Ended Dec 31, 2024

Dominion Energy, Inc. (D) reported its 2024 fiscal year results, highlighting strategic progress and ongoing investments in clean energy infrastructure. The company has continued its divestiture of non-core gas distribution assets, with the sale to Enbridge progressing as planned throughout 2024. This strategic shift focuses Dominion Energy on its core regulated electric utility operations in Virginia, North Carolina, and South Carolina, which are expected to contribute approximately 90% of earnings. Significant capital expenditure is planned through 2029, totaling around $50 billion, to support grid modernization, renewable generation development (including the significant Coastal Virginia Offshore Wind - CVOW Commercial Project), and transmission/distribution resiliency. The company also received license extensions for its nuclear power stations in Virginia and plans to seek extensions for Millstone. Financially, Dominion Energy's net income attributable to the company saw an increase, primarily driven by the absence of certain charges and impairments from prior periods, alongside an increase in net investment earnings on nuclear decommissioning trust funds. Revenue remained stable, with increases from higher rider equity returns and favorable weather patterns partially offset by lower market-related impacts on Millstone and changes related to commodity costs. The company also repurchased a portion of its common stock in 2024, demonstrating a commitment to shareholder returns while managing its capital structure. Looking ahead, Dominion Energy anticipates growth in its earnings per share for 2025, supported by the absence of certain charges and continued investment in growth projects.

Feb 27, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Feb 27, 2025)

Dominion Energy, Inc. (D) has entered into twelve separate sales agency agreements with various financial institutions, establishing an "at-the-market" (ATM) program. This program allows the company to issue and sell shares of its common stock from time to time through these sales agents. The aggregate offering amount under this program is capped at $1.2 billion. This ATM program is designed to provide Dominion Energy with flexibility in raising capital by allowing it to sell shares opportunistically in the open market. The structure involves forward sale agreements, where a forward purchaser borrows shares to sell them initially, and Dominion Energy receives proceeds later upon settlement. While the company expects physical settlement, alternative settlement methods (cash or net share) exist, which could result in no proceeds or even an obligation for Dominion Energy to pay cash or deliver shares.

Feb 27, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Financial Results (Feb 12, 2025)

Dominion Energy reported preliminary unaudited full-year 2024 GAAP net income of $2.44 per diluted share ($2.1 billion), up from $2.33 in 2023, and operating (non-GAAP) EPS of $2.77, up from $1.95. Fourth-quarter GAAP EPS fell to $0.15 from $0.37 a year earlier, while operating EPS rose to $0.58 from $0.29. The company attributes the full-year result partly to a $197 million net benefit from discontinued operations tied to the sale of its gas distribution business, and states that 2024 operating EPS landed in the top half of guidance despite worse-than-normal weather in its regulated service areas. The gap between GAAP and operating results is large, driven by a $410 million pre-tax net loss from adjustments, including pension and OPEB mark-to-market losses, economic hedging losses, and regulated and nonregulated asset charges, partly offset by nuclear decommissioning trust gains. Forward guidance was narrowed rather than changed at the midpoint. The 2025 operating EPS range is now $3.28 to $3.52, keeping the $3.40 midpoint, and includes estimated RNG 45Z income. Management reaffirmed its 5% to 7% long-term operating EPS growth target through 2029, measured from a 2025 midpoint of $3.30 excluding RNG 45Z, along with its credit and dividend guidance. Investors should note that the company explicitly cannot provide GAAP equivalents for its operating guidance, so reported results may diverge materially from operating figures. This filing is a earnings release furnished under Item 2.02 and is not a full audited report. The figures are preliminary, and the notes to the 10-K are the authoritative source. Items to monitor include the $103 million charge tied to Virginia Power's share of CVOW costs not expected to be recovered from customers, the $122 million Millstone ARO revision, and the sustainability of earnings growth given weather sensitivity and the reliance on non-recurring items in GAAP results.

Feb 12, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Regulation FD Disclosure (Feb 3, 2025)

Dominion Energy (NYSE: D) disclosed on February 3, 2025 that the total estimated cost of its 2.6 GW Coastal Virginia Offshore Wind (CVOW) project has risen about 9%, from $9.8 billion to $10.7 billion (inclusive of contingency, excluding financing costs). The increase is driven almost entirely by higher PJM-assigned network upgrade costs and onshore electrical interconnection costs, which the company says do not affect construction or the schedule. The project remains on track for on-time completion at the end of 2026, and the company estimates the average impact on a typical residential bill (1,000 kWh/month) at about 43 cents per month over the project's life, after cost-sharing. For shareholders, the key mitigant is the November 2024 sale of a 50% noncontrolling interest in CVOW to Stonepeak. Under the December 2022 Virginia SCC settlement, costs between $10.3 billion and $11.3 billion are split 50/50 between customers and project owners, and Stonepeak bears half of the owners' share. Stonepeak will fund about $450 million of the roughly $900 million increase, and Dominion expects an approximately $100 million charge in Q4 2024 results, excluded from operating earnings (non-GAAP). The company also noted that Stonepeak's capital contributions are conditioned on total project cost staying below $11.3 billion, so the $10.7 billion estimate leaves roughly $600 million of headroom before that threshold, and costs above that level shift to Dominion at a higher share. The levelized cost of energy (LCOE, including renewable energy credits) rose to about $62/MWh from $56/MWh in November 2024, but remains below the original $80-90/MWh filing estimate and below the $125/MWh (2018 dollars) legislative prudency cap. Dominion reaffirmed its 2025 operating EPS guidance, its 5% to 7% long-term operating EPS growth target through 2029, and its credit guidance, with the Q4 2024 earnings call scheduled for February 12, 2025.

Feb 3, 2025 8-K

DOMINION ENERGY, INC 8-K Report, Executive Changes (Jan 27, 2025)

Dominion Energy, Inc. (D) has filed an 8-K report detailing the approval of its 2025 Annual Incentive Plan (AIP) by its Compensation and Talent Development Committee (CTD Committee). This plan provides eligible officers with performance-based cash awards, with potential payouts ranging from 0% to 200% of their target incentive, which is set as a percentage of base salary. The specific performance goals for the AIP will be determined by the CTD Committee from measures outlined in the 2024 Incentive Compensation Plan. The report also outlines compensation adjustments for key executives, notably Edward H. Baine, whose role was expanded to President – Utility Operations and Dominion Energy Virginia. Effective January 1, 2025, Mr. Baine's annual base salary was set at $643,537, with an 80% AIP target and a long-term incentive target of $1,250,000. Additionally, the CTD Committee approved special cash and restricted stock awards for Mr. Baine, Carlos M. Brown (President – Dominion Energy Services and Executive Vice President, Chief Legal Officer and Corporate Secretary), and Steven D. Ridge (Executive Vice President and Chief Financial Officer) as recognition for their key contributions in 2025. These awards include clawback provisions and, for cash awards, repayment requirements upon voluntary resignation within one year.

Jan 27, 2025 8-K

DOMINION ENERGY, INC 8-K/A Report, Corporate Update (Dec 17, 2024)

This Form 8-K Amendment No. 8, filed December 17, 2024, contains no financial results, earnings, or guidance. It replaces the description of Dominion Energy's capital stock previously filed in Amendment No. 7 on February 21, 2023, so the description can be incorporated by reference into SEC forms that allow it. The update is mainly housekeeping: it removes references to the 4.65% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock, which Dominion redeemed in full effective December 15, 2024. As of the filing date, Dominion's authorized capital stock was 1.77 billion shares, made up of 1.75 billion common shares and 20 million preferred shares. About 840 million common shares were outstanding as of December 13, 2024. Only one preferred series remains: 1,000,000 shares of 4.35% Series C Fixed-Rate Cumulative Redeemable Perpetual Preferred Stock, issued December 9, 2021, with a $1,000 per-share liquidation preference. Preferred dividends accumulate whether or not declared, and while they are unpaid, common dividends and common share repurchases are restricted. For investors, the main takeaways are the reduced preferred capital structure following the Series B redemption and the governance terms in the filing, which cover Virginia anti-takeover provisions, shareholder meeting and proposal rules, proxy access, and exclusive forum selection. The filing does not change the company's operating or financial position.

Dec 17, 2024 8-K

DOMINION ENERGY, INC 8-K Report, Bylaw Amendment (Dec 17, 2024)

Dominion Energy, Inc. (D) filed an 8-K on December 17, 2024, announcing the formal removal of Article IIIB from its articles of incorporation. This amendment is a direct consequence of the company's redemption of all outstanding shares of its 4.65% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock (Series B Preferred Stock). The redemption was effective as of December 15, 2024, and the subsequent amendment reflects the completion of this capital structure change. For investors, this filing signals the finalization of the Series B Preferred Stock redemption. This action simplifies the company's capital structure by eliminating a specific class of preferred stock. Investors holding or previously holding the Series B Preferred Stock should note that their rights and claims related to this stock are now fully extinguished as per the redemption. The amendment to the articles of incorporation is a procedural step to align the company's governing documents with its completed capital actions.

Dec 17, 2024 8-K

DOMINION ENERGY, INC 8-K Report, Executive Changes (Dec 2, 2024)

Dominion Energy, Inc. (D) has announced a significant leadership transition involving the upcoming retirement of Executive Vice President, Chief Operating Officer, and President – Contracted Energy, Diane Leopold. Ms. Leopold intends to retire effective June 1, 2025, and will step down from her operational roles on January 1, 2025. She will remain with the company in a support capacity during the transition period. This transition will lead to a restructuring of key operational responsibilities. Effective January 1, 2025, Edward H. Baine will expand his role to oversee all utility operations, including Dominion Energy Virginia, under the new title of President – Utility Operations and Dominion Energy Virginia. Concurrently, Eric S. Carr will take on responsibility for the Contracted Energy operating segment, in addition to his existing nuclear operations duties, becoming Chief Nuclear Officer and President – Nuclear Operations and Contracted Energy. Investors should monitor how these leadership changes impact operational execution and strategic direction within these critical segments.

Dec 2, 2024 8-K

DOMINION ENERGY, INC 8-K Report, Corporate Update (Nov 18, 2024)

Dominion Energy, Inc. (D) announced on November 14, 2024, the execution of an underwriting agreement for the sale of $1.25 billion in aggregate principal amount of its 2024 Series C Enhanced Junior Subordinated Notes due 2055. These notes are junior subordinated debt and were registered under a previously effective Form S-3 registration statement. This issuance represents a significant capital-raising event for Dominion Energy, aiming to bolster its financial resources. The details of the notes and the underwriting agreement, including the role of BofA Securities, Goldman Sachs & Co. LLC, and Wells Fargo Securities, LLC as underwriters, are outlined in the filing. Investors should note the nature of these notes as junior subordinated debt, which implies a higher risk profile compared to senior debt but typically offers a higher yield. The specific terms and conditions are governed by the Eighteenth Supplemental Indenture to the Company's existing Subordinated Indenture II.

Nov 18, 2024 10-Q

DOMINION ENERGY, INC Quarterly Report for Q3 Ended Sep 30, 2024

Dominion Energy reported a significant increase in net income attributable to the company for the third quarter and year-to-date periods ending September 30, 2024, compared to the prior year. This improvement was largely driven by the absence of substantial charges related to asset dispositions in the prior year, increased net investment earnings on nuclear decommissioning trust funds, and higher equity returns from Virginia Power's capital investments. The company also saw a reduction in interest expenses due to lower debt levels and a benefit from a nuclear production tax credit. However, operating revenue saw a modest increase primarily due to regulatory riders and market price impacts at Millstone, partially offset by lower fuel-related revenue and one-time customer credits. Overall, Dominion Energy demonstrated solid financial performance, benefiting from operational efficiencies and favorable investment returns. Key financial highlights include a robust increase in both quarterly and year-to-date net income, driven by the aforementioned factors. The company's strategic asset dispositions and ongoing capital investments in regulated operations, particularly at Virginia Power, contributed to improved financial results. Despite headwinds from fluctuating commodity costs and regulatory adjustments, Dominion Energy maintained a strong liquidity position and managed its debt effectively, underscoring its financial resilience and commitment to returning value to shareholders.

Nov 1, 2024 8-K

DOMINION ENERGY, INC 8-K Report, Financial Results (Nov 1, 2024)

Dominion Energy reported preliminary third-quarter 2024 GAAP net income of $954 million ($1.12 per diluted share), up sharply from $157 million ($0.16 per share) a year earlier. The improvement was driven largely by non-operating items: a $213 million benefit tied to discontinued gas distribution operations, net nuclear decommissioning trust gains, and a favorable swing in economic hedging results. Operating earnings (non-GAAP), the metric management emphasizes, rose to $835 million ($0.98 per share) from $651 million ($0.75 per share), a 31% increase in per-share terms. Operating earnings growth was led by Dominion Energy Virginia, which contributed $662 million versus $535 million a year ago, supported by a $101 million rider equity return and a $36 million nuclear production tax credit. Contracted Energy improved on the absence of a planned Millstone refueling outage in the prior-year quarter, and South Carolina results were roughly flat. Full-year 2024 operating earnings guidance was narrowed to $2.68 to $2.83 per share, preserving the $2.75 midpoint, and 2025 guidance of $3.25 to $3.54 per share was reaffirmed. Investors should note that the quarter's GAAP results were inflated by one-time and market-driven items, so operating earnings are the better gauge of underlying performance. The filing is a furnished earnings release under Item 2.02 and contains no new material agreements or events beyond the reaffirmed guidance framework.

Nov 1, 2024 8-K

DOMINION ENERGY, INC 8-K Report, Material Agreement (Oct 25, 2024)

Dominion Energy, Inc. (D) has filed an 8-K report detailing a significant development concerning its Coastal Virginia Offshore Wind (CVOW) project. Virginia Power, a subsidiary, has entered into a Limited Liability Company Agreement (LLC Agreement) with an unnamed 'Investor' for OSW Project LLC. This agreement outlines the framework for the project's funding, governance, and operational control, particularly concerning construction costs beyond the current budget. The key takeaway for investors is the shared responsibility and potential adjustments in ownership and financial contributions based on the CVOW project's final construction costs. While the initial budget is $9.8 billion, the LLC Agreement mandates contributions up to $11.3 billion, with the Investor having options for further contributions if costs rise between $11.3 billion and $13.7 billion. The agreement also clarifies Virginia Power's role in project management and its potential economic outcomes depending on cost overruns and the Investor's participation.

Oct 25, 2024 8-K

DOMINION ENERGY, INC 8-K Report, Acquisition Completed (Oct 1, 2024)

Dominion Energy, Inc. (D) has successfully completed the sale of its North Carolina natural gas utility subsidiary, Public Service Company of North Carolina, Incorporated (PSNC), to Enbridge Parrot Holdings, LLC (Enbridge). The transaction, finalized on September 30, 2024, generated approximately $2.0 billion in cash proceeds for Dominion Energy, with Enbridge also assuming about $1.2 billion in debt associated with PSNC. This divestiture aligns with Dominion Energy's strategic focus, allowing it to streamline operations and potentially reallocate capital towards its core business areas. For investors, this sale represents a significant step in Dominion Energy's portfolio transformation. The substantial cash infusion provides financial flexibility, which could be used for debt reduction, share repurchases, or funding future capital expenditures. The exclusion of PSNC's results as discontinued operations in prior filings simplifies the understanding of the company's ongoing business performance. Investors should monitor how Dominion Energy utilizes these proceeds and how this divestiture impacts its future earnings and strategic direction.

Oct 1, 2024 10-Q

DOMINION ENERGY, INC Quarterly Report for Q2 Ended Jun 30, 2024

Dominion Energy, Inc. (D) reported its financial results for the quarter ended June 30, 2024. The company saw a slight decrease in net income attributable to Dominion Energy for both the second quarter and year-to-date periods compared to the prior year. This decrease was primarily driven by the closing of the East Ohio Transaction and impacts from 2023 Virginia legislation, partially offset by improved operational performance at Millstone and favorable weather conditions for electric utility customers. Financially, the company's operating revenue increased due to the recovery of costs associated with non-fuel riders and growth in retail electric sales. However, higher interest expenses, increased impairment charges, and a decrease in other income impacted profitability. The company continues to manage its debt, with notable activity including term loan repayments and issuances of long-term debt. Investing activities were significantly influenced by proceeds from asset dispositions, while capital expenditures increased. The company's subsidiary, Virginia Power, also reported improved net income, benefiting from the absence of amortization related to a prior regulatory settlement and increased electric sales, though partially offset by legislative changes impacting riders.

Aug 1, 2024