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Dominion Energy Inc. (D - Free Report) delivered fourth-quarter 2024 operating earnings of 58 cents per share, which surpassed the Zacks Consensus Estimate of 54 cents by 7.4%. The metric increased 100% from the year-ago quarter.
See the Zacks Earnings Calendar to stay ahead of market-making news.
GAAP earnings were 15 cents per share compared with 37 cents in the year-ago quarter.
Operating earnings for 2024 were $2.77 per share compared with $1.95 in 2023. The figure was near the mid-point of the guidance of $2.68-$2.83 per share.
Revenues of Dominion Energy
Revenues of $3.4 billion lagged the Zacks Consensus Estimate of $3.51 billion by 3.2%. The top line was 3.8% down from $3.53 billion in the year-ago quarter.
Total revenues for 2024 were $14.46 billion, up nearly 0.5% year over year.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Total operating expenses increased 6.6% year over year to $3 billion due to an increase in other operations and maintenance expenses from the year-ago period.
Rising demand from data centers is likely to boost the performance of the company in the long term. Dominion Energy Virginia connected 15 data centers in 2024 and expects to connect a total of 15 data centers in 2025.
Dominion Energy registered attractive customer growth across its Virginia and South Carolina service areas.
Operating earnings in the reported quarter was $504 million up 93.8% year over year.
Interest and related charges in the quarter was down 27.5% year over year.
Segmental Details of Dominion Energy
Dominion Energy Virginia: Net income was $440 million, up 19.2% year over year.
Dominion Energy South Carolina: Net income of $102 million increased 36% on a year-over-year basis.
Contracted Energy: Net income was $54 million against a loss of $19 million in the year-ago quarter.
Corporate and Other: Net loss was $92 million, which was narrower than the loss of $165 million in the prior-year quarter.
Dominion Energy’s Financial Highlights
Current assets as of Dec. 31, 2024, were $6.61 billion compared with $25.4 billion as of Dec. 31, 2023.
Total long-term debt as of Dec. 31, 2024, was $37.5 billion, up from $32.3 billion as of Dec. 31, 2023.
In 2024, cash from operating activities was $4.85 billion compared with $6.57 billion in the year-ago period.
Guidance of Dominion Energy
Dominion Energy narrows its 2025 operating earnings guidance to $3.28-$3.52 from the earlier range of $3.25-$3.54 per share. The Zacks Consensus Estimate is pegged at $3.39 per share, which is a tad lower than the midpoint of the guided range.
D reiterates its annual operating earnings guidance of 5-7% through 2029. The company expects to invest $50 billion in the 2025-2029 time period.
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%.
NEE’s long-term (three-to-five years) earnings growth rate is 7.78%. It delivered an average earnings surprise of 6.5% in the last four quarters.
CMS Energy Corporation (CMS - Free Report) posted fourth-quarter 2024 earnings per share of 87 cents, which beat the Zacks Consensus Estimate of 86 cents by 1.2%.
CMS’ long-term earnings growth rate is 7.68%. The company delivered an average earnings surprise of 4.76% in the last four quarters.
Exelon Corporation (EXC - Free Report) reported fourth-quarter 2024 earnings of 64 cents per share, which surpassed the Zacks Consensus Estimate of 59 cents by 8.5%.
EXC’s long-term earnings growth rate is 5.71%. It delivered an average earnings surprise of 6.37% in the last reported quarter.
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Dominion Q4 Earnings Surpass Estimates, 2025 Guidance Narrowed
Dominion Energy Inc. (D - Free Report) delivered fourth-quarter 2024 operating earnings of 58 cents per share, which surpassed the Zacks Consensus Estimate of 54 cents by 7.4%. The metric increased 100% from the year-ago quarter.
See the Zacks Earnings Calendar to stay ahead of market-making news.
GAAP earnings were 15 cents per share compared with 37 cents in the year-ago quarter.
Operating earnings for 2024 were $2.77 per share compared with $1.95 in 2023. The figure was near the mid-point of the guidance of $2.68-$2.83 per share.
Revenues of Dominion Energy
Revenues of $3.4 billion lagged the Zacks Consensus Estimate of $3.51 billion by 3.2%. The top line was 3.8% down from $3.53 billion in the year-ago quarter.
Total revenues for 2024 were $14.46 billion, up nearly 0.5% year over year.
Dominion Energy Inc. Price, Consensus and EPS Surprise
Dominion Energy Inc. price-consensus-eps-surprise-chart | Dominion Energy Inc. Quote
Highlights of D’s Q4 Release
Total operating expenses increased 6.6% year over year to $3 billion due to an increase in other operations and maintenance expenses from the year-ago period.
Rising demand from data centers is likely to boost the performance of the company in the long term. Dominion Energy Virginia connected 15 data centers in 2024 and expects to connect a total of 15 data centers in 2025.
Dominion Energy registered attractive customer growth across its Virginia and South Carolina service areas.
Operating earnings in the reported quarter was $504 million up 93.8% year over year.
Interest and related charges in the quarter was down 27.5% year over year.
Segmental Details of Dominion Energy
Dominion Energy Virginia: Net income was $440 million, up 19.2% year over year.
Dominion Energy South Carolina: Net income of $102 million increased 36% on a year-over-year basis.
Contracted Energy: Net income was $54 million against a loss of $19 million in the year-ago quarter.
Corporate and Other: Net loss was $92 million, which was narrower than the loss of $165 million in the prior-year quarter.
Dominion Energy’s Financial Highlights
Current assets as of Dec. 31, 2024, were $6.61 billion compared with $25.4 billion as of Dec. 31, 2023.
Total long-term debt as of Dec. 31, 2024, was $37.5 billion, up from $32.3 billion as of Dec. 31, 2023.
In 2024, cash from operating activities was $4.85 billion compared with $6.57 billion in the year-ago period.
Guidance of Dominion Energy
Dominion Energy narrows its 2025 operating earnings guidance to $3.28-$3.52 from the earlier range of $3.25-$3.54 per share. The Zacks Consensus Estimate is pegged at $3.39 per share, which is a tad lower than the midpoint of the guided range.
D reiterates its annual operating earnings guidance of 5-7% through 2029. The company expects to invest $50 billion in the 2025-2029 time period.
Dominion Energy’s Zacks Rank
Currently, Dominion Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. (NEE - Free Report) reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%.
NEE’s long-term (three-to-five years) earnings growth rate is 7.78%. It delivered an average earnings surprise of 6.5% in the last four quarters.
CMS Energy Corporation (CMS - Free Report) posted fourth-quarter 2024 earnings per share of 87 cents, which beat the Zacks Consensus Estimate of 86 cents by 1.2%.
CMS’ long-term earnings growth rate is 7.68%. The company delivered an average earnings surprise of 4.76% in the last four quarters.
Exelon Corporation (EXC - Free Report) reported fourth-quarter 2024 earnings of 64 cents per share, which surpassed the Zacks Consensus Estimate of 59 cents by 8.5%.
EXC’s long-term earnings growth rate is 5.71%. It delivered an average earnings surprise of 6.37% in the last reported quarter.