Dominion Energy Announces Second-Quarter 2024 Earnings
-
Second-quarter 2024 GAAP net income of
$0.65 per share; operating earnings (non-GAAP) of$0.65 per share -
Company reaffirms all financial guidance provided at its
March 1, 2024 , investor meeting, including guidance related to earnings, credit, and dividend
RICHMOND, Va.,
Operating earnings (non-GAAP) for the three months ended
Differences between GAAP and operating earnings for the period include a net benefit from discontinued operations primarily associated with the sale of gas distribution operations, gains and losses on nuclear decommissioning trust funds, mark-to-market impact of economic hedging activities, and other adjustments. Details of operating earnings as 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
The company reaffirms its full-year 2024 operating earnings guidance range of
Webcast today
The company will host its second-quarter 2024 earnings call at
A live webcast of the conference call, including accompanying slides and other financial information, will be available on the investor information pages at investors.dominionenergy.com.
For individuals who prefer to join via telephone, domestic callers should dial 1-800-343-1703 and international callers should dial 1-785-424-1116. The passcode for the telephonic earnings call is 40578. Participants should dial in 10 to 15 minutes prior to the scheduled start time.
A replay of the webcast will be available on the investor information pages by the end of the day
Important note to investors regarding operating, reported earnings
About
More than 4.5 million customers in 13 states energize their homes and businesses with electricity or natural gas from
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to various risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to: the direct and indirect impacts of implementing recommendations resulting from the business review concluded in
Consolidated Statements of Income (GAAP) |
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Consolidated Statements of Income * |
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Unaudited (GAAP Based) |
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Three Months Ended |
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Six Months Ended |
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(millions, except per share amounts) |
2024 |
|
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2023 |
|
|
2024 |
|
|
2023 |
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||||
Operating Revenue |
$ |
3,486 |
|
|
$ |
3,166 |
|
|
$ |
7,118 |
|
|
$ |
7,049 |
|
Operating Expenses |
|
|
|
|
|
|
|
|
|
|
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||||
Electric fuel and other energy-related purchases |
|
918 |
|
|
|
939 |
|
|
|
1,877 |
|
|
|
1,961 |
|
Purchased electric capacity |
|
21 |
|
|
|
15 |
|
|
|
33 |
|
|
|
23 |
|
Purchased gas |
|
44 |
|
|
|
49 |
|
|
|
164 |
|
|
|
172 |
|
Other operations and maintenance(1) |
|
907 |
|
|
|
798 |
|
|
|
1,792 |
|
|
|
1,636 |
|
Depreciation and amortization |
|
621 |
|
|
|
607 |
|
|
|
1,242 |
|
|
|
1,229 |
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Other taxes |
|
170 |
|
|
|
164 |
|
|
|
372 |
|
|
|
355 |
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Total operating expenses |
|
2,681 |
|
|
|
2,572 |
|
|
|
5,480 |
|
|
|
5,376 |
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Income (loss) from operations |
|
805 |
|
|
|
594 |
|
|
|
1,638 |
|
|
|
1,673 |
|
Other income (expense) |
|
250 |
|
|
|
314 |
|
|
|
685 |
|
|
|
590 |
|
Interest and related charges |
|
469 |
|
|
|
395 |
|
|
|
1,043 |
|
|
|
874 |
|
Income (loss) from continuing operations including |
|
586 |
|
|
|
513 |
|
|
|
1,280 |
|
|
|
1,389 |
|
Income tax expense (benefit) |
|
95 |
|
|
|
98 |
|
|
|
229 |
|
|
|
274 |
|
Net Income (loss) from continuing operations |
|
491 |
|
|
|
415 |
|
|
|
1,051 |
|
|
|
1,115 |
|
Net Income (loss) from discontinued operations |
|
81 |
|
|
|
168 |
|
|
|
195 |
|
|
|
449 |
|
Net Income (loss) attributable to |
$ |
572 |
|
|
$ |
583 |
|
|
$ |
1,246 |
|
|
$ |
1,564 |
|
Reported Income (loss) per common share from continuing |
$ |
0.55 |
|
|
$ |
0.47 |
|
|
$ |
1.20 |
|
|
$ |
1.28 |
|
Reported Income (loss) per common share from discontinued |
|
0.10 |
|
|
|
0.20 |
|
|
|
0.23 |
|
|
|
0.54 |
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Reported Income (loss) per common share - diluted |
$ |
0.65 |
|
|
$ |
0.67 |
|
|
$ |
1.43 |
|
|
$ |
1.82 |
|
Average shares outstanding, diluted |
|
838.3 |
|
|
|
836.2 |
|
|
|
838.0 |
|
|
|
835.9 |
|
|
|
(1) |
Includes impairment of assets and other charges (benefits) and losses (gains) on sales of assets. |
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*The notes contained in |
Schedule 1 - Segment Reported and Operating Earnings |
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Three Months Ended |
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Six Months Ended |
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(millions, except per share amounts) |
2024 |
|
|
2023 |
|
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Change |
|
|
2024 |
|
|
2023 |
|
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Change |
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REPORTED EARNINGS(1) |
$ |
572 |
|
|
$ |
583 |
|
|
$ |
(11) |
|
|
$ |
1,246 |
|
|
$ |
1,564 |
|
|
$ |
(318) |
|
Pre-tax loss (income)(2) |
|
39 |
|
|
|
(346) |
|
|
|
385 |
|
|
|
(225) |
|
|
|
(936) |
|
|
|
711 |
|
Income tax(2) |
|
(48) |
|
|
|
73 |
|
|
|
(121) |
|
|
|
25 |
|
|
|
197 |
|
|
|
(172) |
|
Adjustments to reported earnings |
|
(9) |
|
|
|
(273) |
|
|
|
264 |
|
|
|
(200) |
|
|
|
(739) |
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|
539 |
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OPERATING EARNINGS (non-GAAP) |
$ |
563 |
|
|
$ |
310 |
|
|
$ |
253 |
|
|
$ |
1,046 |
|
|
$ |
825 |
|
|
$ |
221 |
|
By segment: |
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Dominion Energy Virginia |
|
485 |
|
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|
394 |
|
|
|
91 |
|
|
|
909 |
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|
|
780 |
|
|
|
129 |
|
|
|
69 |
|
|
|
68 |
|
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|
1 |
|
|
|
149 |
|
|
|
159 |
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|
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(10) |
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Contracted Energy |
|
100 |
|
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(45) |
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|
145 |
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|
222 |
|
|
|
66 |
|
|
|
156 |
|
Corporate and Other |
|
(91) |
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|
|
(107) |
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|
16 |
|
|
|
(234) |
|
|
|
(180) |
|
|
|
(54) |
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$ |
563 |
|
|
$ |
310 |
|
|
$ |
253 |
|
|
$ |
1,046 |
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$ |
825 |
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|
$ |
221 |
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Earnings Per Share (EPS)(3): |
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REPORTED EARNINGS(1) |
$ |
0.65 |
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|
$ |
0.67 |
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|
$ |
(0.02) |
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$ |
1.43 |
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$ |
1.82 |
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$ |
(0.39) |
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Adjustments to reported earnings (after-tax) |
|
- |
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(0.32) |
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0.32 |
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(0.23) |
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(0.88) |
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|
0.65 |
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OPERATING EARNINGS (non-GAAP) |
$ |
0.65 |
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$ |
0.35 |
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$ |
0.30 |
|
|
$ |
1.20 |
|
|
$ |
0.94 |
|
|
$ |
0.26 |
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By segment: |
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Dominion Energy Virginia |
|
0.58 |
|
|
|
0.47 |
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|
0.11 |
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|
1.09 |
|
|
|
0.93 |
|
|
|
0.16 |
|
|
|
0.08 |
|
|
|
0.08 |
|
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|
- |
|
|
|
0.18 |
|
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|
0.19 |
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(0.01) |
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Contracted Energy |
|
0.12 |
|
|
|
(0.05) |
|
|
|
0.17 |
|
|
|
0.26 |
|
|
|
0.08 |
|
|
|
0.18 |
|
Corporate and Other |
|
(0.13) |
|
|
|
(0.15) |
|
|
|
0.02 |
|
|
|
(0.33) |
|
|
|
(0.26) |
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|
|
(0.07) |
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$ |
0.65 |
|
|
$ |
0.35 |
|
|
$ |
0.30 |
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|
$ |
1.20 |
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$ |
0.94 |
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$ |
0.26 |
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Common Shares Outstanding (average, diluted) |
|
838.3 |
|
|
|
836.2 |
|
|
|
|
|
|
838.0 |
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|
835.9 |
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(1) |
Determined in accordance with Generally Accepted Accounting Principles (GAAP). |
(2) |
Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details or find "GAAP Reconciliation" in the Earnings Release Kit on |
(3) |
The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. The calculation of operating earnings per share for the three and six months ended |
Schedule 2 - Reconciliation of 2024 Reported Earnings to Operating Earnings
2024 Earnings (Six Months Ended
The
-
$138 million net market benefit primarily associated with$350 million from nuclear decommissioning trusts (NDT) offset by$212 million in economic hedging activities. -
$227 million of net benefit from discontinued operations primarily related to a$233 million benefit associated with gas distribution operations (inclusive of a$133 million net loss on sales related to theEast Ohio and Questar Gas Transactions). -
$80 million of nonregulated asset impairments and other charges related to a$47 million charge in connection with the settlement of an agreement and a$33 million charge associated with an impairment of certain nonregulated renewable natural gas facilities.
(millions, except per share amounts) |
1Q24 |
|
2Q24 |
|
3Q24 |
4Q24 |
YTD 2024 |
|
|||
Reported earnings |
$ |
674 |
|
$ |
572 |
|
|
|
$ |
1,246 |
|
Adjustments to reported earnings(1): |
|
|
|
|
|
|
|
|
|||
Pre-tax loss (income) |
|
(264) |
|
|
39 |
|
|
|
|
(225) |
|
Income tax (benefit) |
|
73 |
|
|
(48) |
|
|
|
|
25 |
|
|
|
(191) |
|
|
(9) |
|
|
|
|
(200) |
|
Operating earnings (non-GAAP) |
$ |
483 |
|
$ |
563 |
|
|
|
$ |
1,046 |
|
Common shares outstanding (average, diluted) |
|
837.6 |
|
|
838.3 |
|
|
|
|
838.0 |
|
Reported earnings per share(2) |
$ |
0.78 |
|
$ |
0.65 |
|
|
|
$ |
1.43 |
|
Adjustments to reported earnings per share(2) |
|
(0.23) |
|
|
- |
|
|
|
|
(0.23) |
|
Operating earnings (non-GAAP) per share(2) |
$ |
0.55 |
|
$ |
0.65 |
|
|
|
$ |
1.20 |
|
|
|
|
|
|
|
|
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|
|||
(1) Adjustments to reported earnings are reflected in the following table: |
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|
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||||
|
1Q24 |
|
2Q24 |
|
3Q24 |
4Q24 |
YTD 2024 |
|
|||
Pre-tax loss (income): |
|
|
|
|
|
|
|
|
|||
Net loss (gain) on NDT funds |
$ |
(266) |
|
$ |
(84) |
|
|
|
$ |
(350) |
|
Mark-to-market impact of economic hedging activities |
|
108 |
|
|
104 |
|
|
|
|
212 |
|
Discontinued operations |
|
(165) |
|
|
(62) |
|
|
|
|
(227) |
|
Business review costs |
|
29 |
|
|
15 |
|
|
|
|
44 |
|
Nonregulated asset impairments and other charges |
|
47 |
|
|
33 |
|
|
|
|
80 |
|
Net loss (gain) on real estate dispositions |
|
- |
|
|
17 |
|
|
|
|
17 |
|
Regulated asset retirements and other charges |
|
(17) |
|
|
16 |
|
|
|
|
(1) |
|
|
$ |
(264) |
|
$ |
39 |
|
|
|
$ |
(225) |
|
Income tax expense (benefit): |
|
|
|
|
|
|
|
|
|||
Tax effect of above adjustments to reported earnings(3) |
|
584 |
|
|
(84) |
|
|
|
|
500 |
|
Deferred taxes associated with sale of gas distribution |
|
(511) |
|
|
36 |
|
|
|
|
(475) |
|
|
$ |
73 |
|
$ |
(48) |
|
|
|
$ |
25 |
|
|
|
(2) |
The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. The calculation of operating earnings per share for the three and six months ended |
(3) |
Excludes a |
(4) |
Represents the reversal of previously established deferred taxes related to the basis in the stock of the gas distribution operations. |
(5) |
YTD EPS may not equal sum of quarters due to share count differences. |
Schedule 3 - Reconciliation of 2023 Reported Earnings to Operating Earnings
2023 Earnings (Twelve months ended
The
-
$1.1 billion of net benefit from discontinued operations, primarily related to a$722 million benefit associated with the sale of the remaining non-controlling interest inCove Point (including$626 million net gain on sale) and a$496 million benefit associated with the gas distribution operations expected to be sold to Enbridge Inc. (inclusive of a$334 million impairment charge associated with theEast Ohio and Questar Gas Transactions). -
$1.2 billion net market benefit primarily associated with$411 million from nuclear decommissioning trusts (NDT) and$758 million in economic hedging activities. -
$370 million of regulated asset retirements and other charges primarily associated with the settlement ofVirginia Power's 2021 triennial review. -
$118 million of nonregulated asset impairments and other charges primarily related to an ARO revision at Millstone nuclear power station in connection with the expected approval of an operating license extension.
(millions, except per share amounts) |
1Q23 |
|
2Q23 |
|
3Q23 |
|
4Q23 |
|
YTD 2023(5) |
|
|||||
Reported earnings |
$ |
981 |
|
$ |
583 |
|
$ |
157 |
|
$ |
273 |
|
$ |
1,994 |
|
Adjustments to reported earnings(1): |
|
|
|
|
|
|
|
|
|
|
|||||
Pre-tax loss (income) |
|
(590) |
|
|
(346) |
|
|
(778) |
|
|
1 |
|
|
(1,713) |
|
Income tax (benefit) |
|
124 |
|
|
73 |
|
|
1,272 |
|
|
(7) |
|
|
1,462 |
|
|
|
(466) |
|
|
(273) |
|
|
494 |
|
|
(6) |
|
|
(251) |
|
Operating earnings (non-GAAP) |
$ |
515 |
|
$ |
310 |
|
$ |
651 |
|
$ |
267 |
|
$ |
1,743 |
|
Common shares outstanding (average, diluted) |
|
835.5 |
|
|
836.2 |
|
|
836.8 |
|
|
837.3 |
|
|
836.5 |
|
Reported earnings per share(2) |
$ |
1.15 |
|
$ |
0.67 |
|
$ |
0.16 |
|
$ |
0.30 |
|
$ |
2.29 |
|
Adjustments to reported earnings per share(2) |
|
(0.56) |
|
|
(0.32) |
|
|
0.59 |
|
|
(0.01) |
|
|
(0.30) |
|
Operating earnings (non-GAAP) per share(2) |
$ |
0.59 |
|
$ |
0.35 |
|
$ |
0.75 |
|
$ |
0.29 |
|
$ |
1.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|||||
(1) Adjustments to reported earnings are reflected in the following table: |
|
|
|
|
|
|
|
|
|
||||||
|
1Q23 |
|
2Q23 |
|
3Q23 |
|
4Q23 |
|
YTD 2023 |
|
|||||
Pre-tax loss (income): |
|
|
|
|
|
|
|
|
|
|
|||||
Discontinued operations |
$ |
(337) |
|
$ |
(206) |
|
$ |
(683) |
|
$ |
96 |
|
$ |
(1,130) |
|
Net loss (gain) on NDT funds |
|
(123) |
|
|
(158) |
|
|
98 |
|
|
(228) |
|
|
(411) |
|
Mark-to-market impact of economic hedging activities |
|
(272) |
|
|
(58) |
|
|
(287) |
|
|
(141) |
|
|
(758) |
|
Regulated asset retirements and other charges |
|
61 |
|
|
97 |
|
|
61 |
|
|
151 |
|
|
370 |
|
Nonregulated asset impairments and other charges |
|
- |
|
|
- |
|
|
- |
|
|
118 |
|
|
118 |
|
Net loss (gain) on real estate dispositions |
|
81 |
|
|
(21) |
|
|
16 |
|
|
(5) |
|
|
71 |
|
Storm damage and restoration costs (income) |
|
- |
|
|
- |
|
|
12 |
|
|
(2) |
|
|
10 |
|
Business review costs |
|
- |
|
|
- |
|
|
5 |
|
|
12 |
|
|
17 |
|
|
$ |
(590) |
|
$ |
(346) |
|
$ |
(778) |
|
$ |
1 |
|
$ |
(1,713) |
|
Income tax expense (benefit): |
|
|
|
|
|
|
|
|
|
|
|||||
Tax effect of above adjustments to reported earnings(3) |
|
124 |
|
|
73 |
|
|
333 |
|
|
107 |
|
|
637 |
|
Deferred taxes associated with sale of gas distribution |
|
- |
|
|
- |
|
|
939 |
|
|
(114) |
|
|
825 |
|
|
$ |
124 |
|
$ |
73 |
|
$ |
1,272 |
|
$ |
(7) |
|
$ |
1,462 |
|
|
|
(2) |
The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. During each quarter of 2023, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of |
(3) |
Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes, calculation of such amounts may be adjusted in connection with the calculation of the Company's year-to-date income tax provision based on its estimated annual effective tax rate. |
(4) |
Represents deferred taxes related to the basis in the stock of the gas distribution operations expected to be sold to Enbridge that will reverse upon the completion of each sale. |
(5) |
YTD EPS may not equal sum of quarters due to share count difference. |
Schedule 4 - Reconciliation of 2Q24 Earnings to
2Q23 |
|||||||||||||||
|
|||||||||||||||
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||||||
|
|
|
|
|
|
||||||||||
|
2024 vs. 2023 |
|
|
2024 vs. 2023 |
|
||||||||||
(millions, except per share amounts) |
Increase / (Decrease) |
|
|
Increase / (Decrease) |
|
||||||||||
Reconciling Items |
Amount |
|
|
EPS |
|
|
Amount |
|
|
EPS |
|
||||
Change in reported earnings (GAAP) |
$ |
(11) |
|
|
$ |
(0.02) |
|
|
$ |
(318) |
|
|
$ |
(0.39) |
|
Change in Pre-tax loss (income)(1) |
|
385 |
|
|
|
0.46 |
|
|
|
711 |
|
|
|
0.85 |
|
Change in Income tax(1) |
|
(121) |
|
|
|
(0.14) |
|
|
|
(172) |
|
|
|
(0.20) |
|
Adjustments to reported earnings |
$ |
264 |
|
|
$ |
0.32 |
|
|
$ |
539 |
|
|
$ |
0.65 |
|
Change in consolidated operating earnings (non-GAAP) |
$ |
253 |
|
|
$ |
0.30 |
|
|
$ |
221 |
|
|
$ |
0.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Dominion Energy Virginia |
|
|
|
|
|
|
|
|
|
|
|
||||
Weather |
$ |
67 |
|
|
$ |
0.08 |
|
|
$ |
89 |
|
|
$ |
0.11 |
|
Customer usage and other factors |
|
(11) |
|
|
|
(0.01) |
|
|
|
12 |
|
|
|
0.01 |
|
Customer-elected rate impacts |
|
19 |
|
|
|
0.02 |
|
|
|
40 |
|
|
|
0.05 |
|
Rider equity return |
|
83 |
|
|
|
0.10 |
|
|
|
136 |
|
|
|
0.16 |
|
Impact of 2023 Virginia legislation |
|
(65) |
|
|
|
(0.08) |
|
|
|
(144) |
|
|
|
(0.17) |
|
Storm damage and service restoration |
|
2 |
|
|
|
- |
|
|
|
(13) |
|
|
|
(0.02) |
|
Planned outage costs |
|
(3) |
|
|
|
- |
|
|
|
(10) |
|
|
|
(0.01) |
|
Nuclear production tax credit |
|
17 |
|
|
|
0.02 |
|
|
|
17 |
|
|
|
0.02 |
|
Depreciation and amortization |
|
(2) |
|
|
|
- |
|
|
|
(5) |
|
|
|
(0.01) |
|
Interest expense, net |
|
16 |
|
|
|
0.02 |
|
|
|
23 |
|
|
|
0.03 |
|
Other |
|
(32) |
|
|
|
(0.04) |
|
|
|
(16) |
|
|
|
(0.01) |
|
Share dilution |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Change in contribution to operating earnings |
$ |
91 |
|
|
$ |
0.11 |
|
|
$ |
129 |
|
|
$ |
0.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weather |
$ |
29 |
|
|
$ |
0.03 |
|
|
$ |
39 |
|
|
$ |
0.05 |
|
Customer usage and other factors |
|
(1) |
|
|
|
- |
|
|
|
11 |
|
|
|
0.01 |
|
Customer-elected rate impacts |
|
1 |
|
|
|
- |
|
|
|
(1) |
|
|
|
- |
|
Base & RSA rate case impacts |
|
(3) |
|
|
|
- |
|
|
|
(2) |
|
|
|
- |
|
Depreciation and amortization |
|
(4) |
|
|
|
- |
|
|
|
(9) |
|
|
|
(0.01) |
|
Interest expense, net |
|
(3) |
|
|
|
- |
|
|
|
(10) |
|
|
|
(0.01) |
|
Other |
|
(18) |
|
|
|
(0.03) |
|
|
|
(38) |
|
|
|
(0.05) |
|
Share dilution |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Change in contribution to operating earnings |
$ |
1 |
|
|
$ |
- |
|
|
$ |
(10) |
|
|
$ |
(0.01) |
|
Contracted Energy |
|
|
|
|
|
|
|
|
|
|
|
||||
Margin |
$ |
35 |
|
|
$ |
0.04 |
|
|
$ |
36 |
|
|
$ |
0.04 |
|
Planned Millstone outages(2)(3) |
|
83 |
|
|
|
0.10 |
|
|
|
85 |
|
|
|
0.10 |
|
Unplanned Millstone outages(2) |
|
25 |
|
|
|
0.03 |
|
|
|
19 |
|
|
|
0.02 |
|
Depreciation and amortization |
|
5 |
|
|
|
0.01 |
|
|
|
12 |
|
|
|
0.01 |
|
Other |
|
(3) |
|
|
|
(0.01) |
|
|
|
4 |
|
|
|
0.01 |
|
Share dilution |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Change in contribution to operating earnings |
$ |
145 |
|
|
$ |
0.17 |
|
|
$ |
156 |
|
|
$ |
0.18 |
|
Corporate and Other |
|
|
|
|
|
|
|
|
|
|
|
||||
Interest expense, net |
$ |
(4) |
|
|
$ |
- |
|
|
$ |
(64) |
|
|
$ |
(0.08) |
|
Equity method investments |
|
(1) |
|
|
|
- |
|
|
|
(3) |
|
|
|
- |
|
Pension and other postretirement benefit plans |
|
3 |
|
|
|
- |
|
|
|
(1) |
|
|
|
- |
|
Corporate service company costs |
|
5 |
|
|
|
0.01 |
|
|
|
9 |
|
|
|
0.01 |
|
Other |
|
13 |
|
|
|
0.01 |
|
|
|
5 |
|
|
|
- |
|
Share dilution |
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Change in contribution to operating earnings |
$ |
16 |
|
|
$ |
0.02 |
|
|
$ |
(54) |
|
|
$ |
(0.07) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Change in consolidated operating earnings (non-GAAP) |
$ |
253 |
|
|
$ |
0.30 |
|
|
$ |
221 |
|
|
$ |
0.26 |
|
Change in adjustments included in reported earnings(1) |
$ |
(264) |
|
|
$ |
(0.32) |
|
|
$ |
(539) |
|
|
$ |
(0.65) |
|
Change in consolidated reported earnings |
$ |
(11) |
|
|
$ |
(0.02) |
|
|
$ |
(318) |
|
|
$ |
(0.39) |
|
|
|
(1) |
Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details, or find "GAAP Reconciliation" in the Earnings Release Kit on |
(2) |
Includes earnings impact from outage costs and lower energy margins. |
(3) |
Includes the effect of a planned refueling outage in the second quarter of 2023 with no such outage in the second quarter of 2024. |
NOTE: Figures may not sum due to rounding. |
View original content:https://www.prnewswire.com/news-releases/dominion-energy-announces-second-quarter-2024-earnings-302211642.html
SOURCE