Key Highlights

  • Operating Earnings were USD 1.28 per share, including USD 0.05 each from renewable Natural Gas credits and weather.
  • GAAP earnings were USD 1.30 per share, and Net Income was USD 1,274 million versus USD 1,028 million.
  • Management now anticipates full-year operating results in the top half of its original guidance range.
  • Data center capacity in various stages of contracting reached over 54 gigawatts, including over 12 gigawatts under electric service agreements.

Quarterly Earnings and Guidance

Dominion Energy (NYSE:D) reported third-quarter 2026 operating earnings of USD 1.28 per share, including USD 0.05 from renewable natural gas 45Z credits and USD 0.05 from better-than-normal weather. GAAP earnings were USD 1.30 per share. Net income including noncontrolling interests was USD 1,274 million, compared with USD 1,028 million a year earlier, and USD 2,388 million for nine months versus USD 2,553 million.

The company said year-to-date results benefited from better-than-budgeted sales, favorable weather, higher 45Z Credit income and strong execution. After allowing for conservatism on year-end weather, it now anticipates full-year operating results in the top half of the original range and reaffirmed credit, Dividend and Long-term Growth guidance.

Demand and Financing

Weather-normal electric sales grew 3.4% on a last-twelve-month basis across Dominion Energy Virginia and South Carolina, all 10 of the summer peak days have occurred in 2026, and South Carolina set an all-time electric peak in August. Data Center capacity in various stages of contracting exceeded 54 gigawatts, with over 12 gigawatts under electric service agreements, an addition of over 6 gigawatts, or 13%, since the end of last year. The company said customers are brought on under a large-load framework approved by the Virginia State Corporation Commission to protect existing customers from cost shifts.

In September the commission approved a fuel securitization petition representing a balance of about USD 900 million.

NextEra Combination and Offshore Wind

An enhanced Virginia benefits package announced in mid-September doubles the duration of residential bill credits, adds USD 100 million of bill assistance and a USD 100 million workforce fund, commits to at least 1,000 new jobs, a shareholder-funded Richmond tower and a USD 1 billion annual supplier program over five years. Virginia rebuttal testimony was due November 2, hearings begin November 17 and a final order is due by January 11. South Carolina hearings begin December 8 with an order due by January 29, 2027, and North Carolina hearings begin February 23, 2027. Closing remains targeted for the second half of 2027.

The Coastal Virginia Offshore Wind project is about 85% complete, with 44 turbines, or more than 640 megawatts, installed and the 45th underway. September and October installation cadence ran below plan because of weather and vessel maintenance, within risks covered by contingency. The budget stays at USD 11.65 billion, including USD 123 million of unused contingency, with completion targeted by the end of 2027.

Regulatory Milestones to Track

Items to track include the Virginia evidentiary hearings, energization of the third offshore substation by year-end 2026, turbine installation pace and the fourth-quarter weather comparison. Management said it is highly confident in delivering its financial plan, which it built to be appropriately but not unreasonably conservative.