Dominion Q4 Earnings Surpass Estimates, 2025 Guidance Narrowed

Core Insights - Dominion Energy Inc. reported fourth-quarter 2024 operating earnings of 58 cents per share, exceeding the Zacks Consensus Estimate of 54 cents by 7.4% and marking a 100% increase from the previous year [1] - The company's total revenues for the fourth quarter were $3.4 billion, falling short of the Zacks Consensus Estimate of$3.51 billion by 3.2% and down 3.8% from $3.53 billion in the year-ago quarter [3] - Operating earnings for the full year 2024 were$2.77 per share, compared to $1.95 in 2023, aligning closely with the guidance range of$2.68-$2.83 per share [2] Revenue and Earnings Performance - Total revenues for 2024 reached$14.46 billion, reflecting a year-over-year increase of nearly 0.5% [3] - Operating expenses increased by 6.6% year over year to $3 billion, driven by higher operations and maintenance costs [4] - Operating earnings in the reported quarter amounted to$504 million, representing a 93.8% year-over-year increase [5] Segment Performance - Dominion Energy Virginia reported net income of $440 million, up 19.2$102 million [6] - The Contracted Energy segment saw a net income of $54 million, a significant recovery from a loss of$19 million in the previous year [6] Financial Position - As of December 31, 2024, current assets were $6.61 billion, a decrease from$25.4 billion as of December 31, 2023 [7] - Total long-term debt rose to $37.5 billion from$32.3 billion year over year [7] - Cash from operating activities for 2024 was $4.85 billion, down from$6.57 billion in the prior year [7] Guidance and Future Outlook - Dominion Energy has narrowed its 2025 operating earnings guidance to a range of $3.28-$3.52 per share, slightly below the previous range [8] - The company maintains its annual operating earnings growth guidance of 5-7% through 2029 and plans to invest $50 billion from 2025 to 2029 [9]