Dominion Energy Inc. has reported $649 million in adjusted net profit for the second quarter, up from $567 million for the same three-month period last year.
Revenue for the Richmond, Virginia-based regulated power and natural gas provider rose from $3.49 billion for Q2 2024 to $3.81 billion for Q2 2025.
Its earnings per share of $0.75 beat the Zacks Consensus Estimate – which averages projections from brokerage analysts – of $0.69. Revenue also beat the Zacks Consensus Estimate of $3.64 billion.
Before adjustment for nonrecurring items, net income was $760 million, or $0.88 per share – up from $563 million, or $0.64 per share, for Q2 2024. Dominion logged a pre-tax loss of $217 million for Q2 2025, compared to a pre-tax income of $35 million for Q2 2024.
Adjustments for Q2 2025 consisted of $289 million in net loss on nuclear decommissioning trusts, $21 million in mark-to-market impact from economic hedging activities, $2 million from discontinued operations, $82 million in severe weather impacts booked by Dominion Energy Virginia and $23 million from regulated asset retirements and other charges.
Dominion Energy Virginia contributed $549 million in adjusted net income, up from $485 million for Q2 2024. Weather impacts decreased $12 million from Q2 2024 to Q2 2025, while customer usage and other factors increased $52 million. Storm damage and restoration costs fell $2 million from Q2 2024 to Q2 2025. Planned outage costs also dropped $2 million. Depreciation and amortization declined $7 million from Q2 2024 to Q2 2025.
Dominion Energy South Carolina registered $109 million in adjusted net income, up from $69 million for Q2 2024. Weather impacts decreased $3 million from Q2 2024 to Q2 2025, while customer usage and other factors increased $11 million. Customer-elected rate impacts climbed $2 million from Q2 2024 to Q2 2025, while base and RSA rate case impacts increased $40 million. Depreciation and amortization decreased $4 million from Q2 2024 to Q2 2025.
Contracted energy accounted for $47 million of Dominion’s total adjusted net income. Margin increased $8 million from Q2 2024 to Q2 2025. Impacts from planned outages at the Millstone nuclear power station in Waterford, Connecticut, decreased $62 million, while impacts from unplanned Millstone outages decreased $2 million.
Operating expenses totaled $2.71 billion, of which $946 million came from electric fuel and other energy-related purchases. That was an increase from operating expenses of $2.68 billion for Q2 2024.
Dominion maintained its projection for 2025 adjusted net profit at $3.28-3.52 per share.
Dominion Energy provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina, according to the company.
To contact the author, email jov.onsat@rigzone.com
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