Dominion Energy Announces First-Quarter 2022 Earnings

Dominion Energy (NYSE: D) First-quarter 2022 GAAP net income of $0.83 per share; operating earnings of $1.18 per share

The company initiates second quarter 2022 operating earnings guidance of $0.70 to $0.80 per share.

The company affirms full-year 2022 operating earnings guidance as well as other long-term earnings and dividend guidance.

RICHMOND, VA (STL.News) Dominion Energy (NYSE: D) today announced an unaudited net income determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended March 31, 2022, of $711 million ($0.83 per share) compared with net income of $1.0 billion ($1.23 per share) for the same period in 2021.

Operating earnings for the three months ended March 31, 2022, were $1.0 billion ($1.18 per share), compared with operating earnings of $893 million ($1.09 per share) for the same period in 2021.

The difference between GAAP and operating earnings for the three months ended March 31, 2022, reflects the mark-to-market impact of economic hedging activities, gains, and losses on nuclear decommissioning trust funds and other adjustments.

Operating earnings are defined as reported earnings adjusted for certain items.  Details of operating earnings compared to prior periods, business segment results, and detailed descriptions of items included in reported earnings but excluded from operating earnings can be found on Schedules 1, 2, 3, and 4 of this release.

Guidance

Dominion Energy expects second-quarter operating earnings in the range of $0.70 to $0.80 per share.

The company affirms its full-year 2022 operating earnings guidance range of $3.95 to $4.25 per share.  The company also affirms its long-term earnings and dividend growth guidance.

NOTE: This is NOT the complete release.  Please visit the company website for full details.