Dominion Energy (D), the Richmond-based utility serving 3.6 million homes and businesses in Virginia, North Carolina and South Carolina, posted second-quarter operating earnings of $712 million, or $0.79 a share, up from $649 million, or $0.75 a share, a year earlier.

GAAP net income attributable to Dominion Energy was $340 million, or $0.37 a share, compared with $760 million, or $0.88 a share, in the year-ago quarter. Differences between reported and operating earnings included nuclear decommissioning trust funds, mark-to-market on economic hedges, regulated asset retirements and nonregulated asset impairments.

The year-over-year operating-earnings increase of $63 million, or $0.04 a share, was concentrated in Virginia. Dominion Energy Virginia contributed $670 million, or $0.76 a share, up $121 million, or $0.12 a share, from $549 million, or $0.64 a share, a year earlier. The Virginia lift mainly reflected 2025 Biennial Review impacts of $105 million, or $0.12 a share, and rider equity return of $79 million, or $0.09 a share, partly offset by electric capacity expense of $34 million, or $0.04 a share. Customer usage and other factors added $23 million, or $0.03 a share.

Other reportable segments moved the other way. Dominion Energy South Carolina operating earnings were $105 million, or $0.12 a share, down $4 million, or $0.01 a share, from $109 million, or $0.13 a share, a year earlier. Contracted Energy operating earnings were $31 million, or $0.03 a share, down $16 million, or $0.02 a share, from $47 million, or $0.05 a share. Contracted Energy included a $28 million, or $0.03 a share, margin increase offset by $17 million, or $0.02 a share, of higher net interest expense and $13 million, or $0.02 a share, of higher depreciation and amortization. Corporate and Other posted a $94 million operating loss, or $0.12 a share, versus a $56 million loss, or $0.07 a share, a year earlier, tied to $51 million, or $0.06 a share, of higher net interest expense.

Operating revenue was $4,480 million. Income from operations was $329 million. Electric fuel and other energy-related purchases were $1,315 million. Other operations and maintenance were $1,878 million. Depreciation and amortization were $615 million. Interest and related charges were $555 million. Diluted shares averaged 882.1 million.

The company reaffirmed full-year 2026 operating earnings guidance of $3.45 to $3.69 a share, midpoint $3.57 a share, and all financial guidance provided on its fourth-quarter 2025 earnings call, including operating earnings, credit, dividend and long-term growth guidance. That range, first issued with 2025 results, includes $0.07 a share of RNG 45Z income. Dominion also restated that it has extended long-term annual operating EPS growth guidance of 5% to 7%, with a bias to the upper half for 2028 to 2030, off the original 2025 operating EPS guidance midpoint of $3.30 a share excluding RNG 45Z.

Management said it is not able to estimate the aggregate impact of items that can cause reported and operating earnings to differ, including mark-to-market on economic hedges, nuclear decommissioning trust funds, pension and other postretirement plans, acquisitions, divestitures or extreme weather, and therefore is not able to provide a corresponding GAAP equivalent for operating earnings guidance.

The company is one of the nation’s leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England. Forward-looking statements in the release cited risks including the proposed merger with NextEra Energy, unusual weather, regulatory developments, data-center demand concentrated in Loudoun County, Va., and construction and cost-recovery risk on the Coastal Virginia Offshore Wind commercial project, in which Dominion holds a 50% noncontrolling interest.

Dominion Energy uses operating earnings as its primary performance measure for public communications, budgeting, board reporting, incentive compensation and targeted dividend payouts. The company will host a second-quarter 2026 earnings call on July 31, 2026.