Dominion Energy Inc. (NYSE:D) shares traded higher Friday after the regulated utility company reported third-quarter 2026 results that beat Wall Street expectations and lifted the lower end of its full-year earnings outlook.
Adjusted EPS of $1.28 beat the $1.21 estimate, while sales of $5.617 billion topped the $4.90 billion estimate and rose 24.1% year over year.
The quarter combined stronger regulated utility earnings with continued growth in data-center demand and further progress on the Coastal Virginia Offshore Wind project.
Regulated Utilities Drive Earnings Growth
GAAP net income rose to $1.16 billion, or $1.30 per diluted share, from $1.01 billion, or $1.16 per share, a year earlier. Operating earnings increased to $1.14 billion from $921 million.
Third-quarter operating EPS included 5 cents from RNG 45Z-related income and 5 cents from better-than-normal weather.
Dominion Energy Virginia generated $4.218 billion of revenue, up from $3.311 billion, while operating earnings rose to $862 million from $679 million.
South Carolina revenue rose to $1.114 billion from $945 million, and operating earnings increased to $230 million from $168 million.
Contracted Energy contributed $134 million of operating earnings, down from $165 million.
Data Center Pipeline Reaches 54.9 GW
Dominion Energy Virginia’s contracted data-center capacity reached about 54.9 GW in September, up roughly 6.3 GW, or 13%, from December 2025.
Weather-normal regulated electric sales grew 3.4% over the latest 12 months, led by 8.6% commercial growth.
The Coastal Virginia Offshore Wind project was about 85% complete, with 44 turbines installed and the 45th underway.
The project’s capital budget remained $11.65 billion. Dominion had invested about $10.1 billion through Sept. 30, leaving roughly $1.5 billion of project costs remaining.
Nine-month operating cash flow totaled $4.688 billion.
Guidance and Capital Plan
Dominion expects 2026 operating EPS to land in the top half of its $3.45-$3.69 guidance range, compared with the $3.59 analyst estimate.
The company reaffirmed its roughly $65 billion 2026-2030 capital investment plan. It also maintained its 5%-7% long-term operating EPS growth rate through 2030.
Dominion said its proposed combination with NextEra Energy Inc. (NYSE:NEE) remains subject to regulatory approvals. It is expected to close in the second half of 2027.
D Stock Price Activity: Dominion Energy shares are trading higher by 1.72% at $66.24 at the time of publication on Friday, according to Benzinga Pro data.
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