Dominion Energy (D) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$0.85

$0.72$1.13

vs $0.75+13.6%

11 analysts

Next Qtr

$1.15

$0.89$1.40

vs $1.06+8.3%

10 analysts

Current Yr

$3.59

$3.57$3.62

vs $3.42+4.9%

17 analysts

Next Yr

$3.81

$3.78$3.88

vs $3.59+6.3%

18 analysts

Revenue Estimates

Current Qtr

$4.10B

$3.94B$4.50B

vs $3.81B+7.6%

7 analysts

Next Qtr

$4.94B

$4.36B$5.67B

vs $4.53B+9.0%

7 analysts

Current Yr

$18.07B

$16.70B$19.58B

vs $16.51B+9.5%

13 analysts

Next Yr

$19.03B

$17.77B$21.08B

vs $18.07B+5.3%

13 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for D on EDGAR.

D filing events and research context
Filed	Item	Context
May 1, 2026	mda_quarterly	Dominion Energy’s financial results for the first quarter of 2026 reflect a complex operating environment characterized by significant capital investment and regulatory activity. Operating revenue rose to $5.02 billion from $4.08 billion in the prior-year period, though net income attributable to Dominion Energy declined to $621 million from $665 million. The company continues to advance major infrastructure projects, most notably the 2.6 GW Coastal Virginia Offshore Wind (CVOW) Commercial Project, which faces ongoing cost pressures from evolving tariff structures and PJM network upgrade allocations. In the first quarter of 2026, Virginia Power recorded a $117 million net benefit related to non-recoverable project costs, though management anticipates potential future charges due to revised Section 232 tariffs. Strategic portfolio management remains a priority; Dominion Energy has committed to selling certain nonregulated solar assets, resulting in a $78 million impairment charge. Furthermore, the company is evaluating the potential sale of its nonregulated renewable natural gas facilities, which could trigger an impairment of up to $850 million. Regulatory developments include a pending base rate case in North Carolina and the implementation of a carbon trading program in Virginia. The company maintains robust liquidity, supported by its joint revolving credit facility and recent long-term debt issuances.
Feb 23, 2026	business	Dominion Energy provides electric utility services to approximately 4.1 million customers across Virginia, North Carolina, and South Carolina, with roughly 95% of earnings derived from state-regulated operations. Following the divestiture of most regulated gas distribution assets to Enbridge and its interest in Cove Point to BHE, the company is focused on expanding its regulated electric utilities and long-term contracted businesses. A $65 billion capital expenditure plan for 2026–2030 targets zero-carbon generation, grid transformation, and resiliency. Central to this strategy is the 2.6 GW CVOW Commercial offshore wind project and significant investments in utility-scale solar and battery storage. Demand growth is primarily driven by the expansion of data centers, which represented 28% of Virginia Power’s electricity sales in 2025. The company also maintains a significant nuclear fleet, securing license extensions for stations including Surry and North Anna. Operations are managed through three segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. Financial performance remains sensitive to regulatory rate determinations by state commissions and FERC, weather patterns, and the ability to recover costs for large-scale infrastructure projects through approved riders and base rate reviews.
Feb 23, 2026	mda	Dominion Energy is executing a massive capital expansion centered on the 2.6 GW CVOW Commercial Project, with estimated costs of $11.5 billion and expected service by early 2027. To mitigate funding requirements, the company sold a 50% noncontrolling interest to Stonepeak for $2.6 billion. Key project risks include $0.6 billion in tariffs, PJM network upgrade costs, and a regulatory cost-sharing mechanism that limits recovery for expenditures between $10.3 billion and $13.7 billion. Through 2030, Virginia Power plans to invest $6.9 billion in solar, $2.0 billion in battery storage, and $8.3 billion in dispatchable natural gas generation, alongside $8.3 billion for PJM RTEP transmission projects and $1.0 billion for the Valley Link joint venture. Dominion Energy South Carolina is pursuing an $8 billion capital plan, highlighted by a $5 billion joint 2.2 GW combined cycle plant with Santee Cooper. The company is targeting net zero Scope 1, 2, and material Scope 3 emissions by 2050, relying on nuclear license extensions and renewable growth. Primary financial risks include Virginia’s biennial ROE reviews, PJM capacity market volatility, and the execution of simultaneous large-scale infrastructure projects in constrained environments.

Filed

Item

Context

May 1, 2026

mda_quarterly

Dominion Energy’s financial results for the first quarter of 2026 reflect a complex operating environment characterized by significant capital investment and regulatory activity. Operating revenue rose to $5.02 billion from $4.08 billion in the prior-year period, though net income attributable to Dominion Energy declined to $621 million from $665 million. The company continues to advance major infrastructure projects, most notably the 2.6 GW Coastal Virginia Offshore Wind (CVOW) Commercial Project, which faces ongoing cost pressures from evolving tariff structures and PJM network upgrade allocations. In the first quarter of 2026, Virginia Power recorded a $117 million net benefit related to non-recoverable project costs, though management anticipates potential future charges due to revised Section 232 tariffs. Strategic portfolio management remains a priority; Dominion Energy has committed to selling certain nonregulated solar assets, resulting in a $78 million impairment charge. Furthermore, the company is evaluating the potential sale of its nonregulated renewable natural gas facilities, which could trigger an impairment of up to $850 million. Regulatory developments include a pending base rate case in North Carolina and the implementation of a carbon trading program in Virginia. The company maintains robust liquidity, supported by its joint revolving credit facility and recent long-term debt issuances.

Feb 23, 2026

business

Dominion Energy provides electric utility services to approximately 4.1 million customers across Virginia, North Carolina, and South Carolina, with roughly 95% of earnings derived from state-regulated operations. Following the divestiture of most regulated gas distribution assets to Enbridge and its interest in Cove Point to BHE, the company is focused on expanding its regulated electric utilities and long-term contracted businesses. A $65 billion capital expenditure plan for 2026–2030 targets zero-carbon generation, grid transformation, and resiliency. Central to this strategy is the 2.6 GW CVOW Commercial offshore wind project and significant investments in utility-scale solar and battery storage. Demand growth is primarily driven by the expansion of data centers, which represented 28% of Virginia Power’s electricity sales in 2025. The company also maintains a significant nuclear fleet, securing license extensions for stations including Surry and North Anna. Operations are managed through three segments: Dominion Energy Virginia, Dominion Energy South Carolina, and Contracted Energy. Financial performance remains sensitive to regulatory rate determinations by state commissions and FERC, weather patterns, and the ability to recover costs for large-scale infrastructure projects through approved riders and base rate reviews.

Feb 23, 2026

mda

Dominion Energy is executing a massive capital expansion centered on the 2.6 GW CVOW Commercial Project, with estimated costs of $11.5 billion and expected service by early 2027. To mitigate funding requirements, the company sold a 50% noncontrolling interest to Stonepeak for $2.6 billion. Key project risks include $0.6 billion in tariffs, PJM network upgrade costs, and a regulatory cost-sharing mechanism that limits recovery for expenditures between $10.3 billion and $13.7 billion. Through 2030, Virginia Power plans to invest $6.9 billion in solar, $2.0 billion in battery storage, and $8.3 billion in dispatchable natural gas generation, alongside $8.3 billion for PJM RTEP transmission projects and $1.0 billion for the Valley Link joint venture. Dominion Energy South Carolina is pursuing an $8 billion capital plan, highlighted by a $5 billion joint 2.2 GW combined cycle plant with Santee Cooper. The company is targeting net zero Scope 1, 2, and material Scope 3 emissions by 2050, relying on nuclear license extensions and renewable growth. Primary financial risks include Virginia’s biennial ROE reviews, PJM capacity market volatility, and the execution of simultaneous large-scale infrastructure projects in constrained environments.

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