Dominion Energy (D) Q4 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Mon, February 23, 2026 astatine 11:40 AM CST 46 min read

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Monday, Feb. 23, 2026 astatine 11 a.m. ET

• Chair, President, and Chief Executive Officer — Robert M. Blue

• Executive Vice President and Chief Financial Officer — Steven D. Ridge

• Vice President - Investor Relations and Treasurer — David McFarland

Steven D. Ridge: Thank you, David, and bully morning, everyone. Over the past twenty-four months since the decision of our concern review, we person consistently reiterated our absorption connected 3 main priorities. First, accordant accomplishment of our fiscal commitments. Second, continued accomplishment of large operation milestones for the Coastal Virginia upwind project. And third, constructive accomplishment of regulatory outcomes that show our quality to enactment cooperatively with regulators and stakeholders to payment some customers and shareholders. Looking backmost connected 2025, we successfully executed against these guiding priorities. And our absorption for 2026 is unchanged.

As we execute, we empower our employees to supply the reliable, affordable, and progressively cleanable vigor that powers our customers each day, and we presumption ourselves to proceed to present connected the commitments we made astatine the decision of the concern review.

Turning archetypal to 2025 results arsenic shown connected descent five. As the archetypal afloat twelvemonth station concern review, 2025 was a captious twelvemonth for demonstrating our quality to nutrient high-quality net and robust recognition results accordant with our archetypal guidance. Therefore, I americium pleased to study that we successfully delivered with full-year 2025 operating net of $3.42 per share, and operating net excluding RNG 45Z credits of $3.33 per share, some supra the midpoint of our guidance. I would besides enactment that full-year 2025 GAAP net of $3.45 per stock were higher than operating EPS. As always, delight notation to Schedules 2 and 4 of the net merchandise kit for much details.

Continuing that theme, we delivered arsenic beardown recognition results. Of peculiar enactment is our estimation of Moody's full-year CFO pre-working-capital to debt, which is some astir 100 ground points supra our downgrade threshold and the highest effect we person reported for this metric since 2012. Balance expanse spot is captious fixed the important request for regulated superior concern crossed our strategy to conscionable our customers' maturation implicit the adjacent respective years, and our robust 2025 recognition results presumption america good for that future.

Turning present to 2026 guidance connected descent six. We expect 2026 operating net per share, excluding RNG 45Z recognition income, to beryllium betwixt $3.40 and $3.60 per stock with a midpoint of $3.50. As is our modular practice, we are utilizing a scope to relationship for variations from mean upwind successful our inferior work territories. The midpoint represents a 6.1% summation comparative to our comparable 2025 guidance midpoint of $3.30, contempt 2026 being a treble outage twelvemonth astatine Millstone, driven by continued spot successful income and higher regulated investment. Our expectations for RNG 45Z income, which we proceed to study separately, bespeak updated recognition scoring and little accumulation assumptions, which we person been highlighting for a portion now.