10-Q · May 1, 2026
Dominion Energy's Q1 2026 results showed a notable 23% increase in operating revenue to $5.02 billion compared to $4.08 billion in Q1 2025, driven largely by higher fuel-related revenue and non-fuel rider cost…
Earnings analysis · 10-Q
D earnings analysis
Filed October 30, 2026 · Our reading of the company's report
The latest report
Dominion delivered a strong third quarter, with $5.617 billion of revenue and $1.30 GAAP EPS, beating consensus estimates of $4.749128 billion and $1.21, respectively. Revenue increased approximately 24% year over year,…
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Dominion delivered a strong third quarter, with $5.617 billion of revenue and $1.30 GAAP EPS, beating consensus estimates of $4.749128 billion and $1.21, respectively. Revenue increased approximately 24% year over year, while operating EPS rose to $1.28 from $1.06, led by Dominion Energy Virginia. Management maintained 2026 operating EPS guidance of $3.45-$3.69 and expects to be in the top half of the range. The principal disclosed risks remain CVOW contract-cost exposure and sensitivity to interest rates and commodity prices; the filing reported no material changes to previously disclosed risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.3
What stood out
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EPS beat and increased year over year
GAAP EPS was $1.30, exceeding the $1.21 consensus estimate by $0.09 and increasing from $1.16 in 2025Q3.
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Revenue materially exceeded estimates
Revenue was $5.617 billion, above the $4.749128 billion consensus estimate and up from $4.53 billion in 2025Q3, an increase of approximately 24%.
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Virginia segment drove earnings growth
Operating EPS increased to $1.28 from $1.06 year over year, with Dominion Energy Virginia identified as the primary earnings-growth driver.
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Full-year outlook maintained
Management reaffirmed 2026 operating EPS guidance of $3.45-$3.69 and expects to be in the top half of the range; credit, dividend and long-term growth guidance were also reaffirmed.
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Investment results improved
Dominion Energy reported $944 million of net investment gains, including investment income, on nuclear decommissioning and rabbi trust investments for the nine months ended September 30, 2026, versus $854 million in the prior-year period.
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Repurchase capacity remained available
The company had $0.92 billion remaining under its share-repurchase authorization at September 30, 2026, while the quarter included 1,477 employee tax-withholding shares purchased at a weighted-average price of $66.84.
What to watch
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CVOW contract-cost exposure
The CVOW Commercial Project remains exposed to foreign-currency and commodity-indexation risk through fixed-price contracts covering approximately €2.6 billion and 5.1 billion kr. of foreign-denominated services; approximately €0.7 billion of contracts contain steel-linked commodity indexing.
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Interest-rate derivative volatility
A hypothetical 10% decrease in market interest rates would reduce the fair value of Dominion Energy's interest-rate derivatives by $408 million; aggregate notional interest-rate derivatives totaled $8.5 billion at September 30, 2026.
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Commodity-price sensitivity
A hypothetical 10% decrease in commodity prices would reduce the fair value of Dominion Energy's commodity-based derivatives by $47 million at September 30, 2026, compared with $15 million at December 31, 2025.
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No material risk-factor changes
The filing states that there were no material changes to risk factors previously disclosed in the 2025 Form 10-K and the June 30, 2026 Form 10-Q; therefore, no new material risk-factor change was identified.
Management's outlook
The accompanying earnings disclosure reaffirmed 2026 operating EPS guidance of $3.45-$3.69 and expects results in the top half of the range. The supplied 10-Q text does not provide separate revenue guidance.
Earlier filings 4
10-Q · May 1, 2025
Dominion Energy reported a stronger operating quarter with revenue of $4,076 million (up $444 million, +12.2% vs Q1 2024) and income from operations of $1,223 million (operating margin 30.0%). Reported diluted EPS from…
10-K · February 27, 2025
Dominion Energy reported full-year 2024 operating revenue of $14,459 million (up from $14,393 million in 2023) and diluted EPS of $2.44 (up from $2.33 in 2023). The company continues large-scale capital programs—most…
10-Q · November 8, 2023
Dominion reported Q3 2023 operating revenue of $3,810 million, down from $3,963 million in Q3 2022, while income from operations rose to $1,035 million from $995 million. Net income attributable to Dominion fell to $163…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.