$D · DOMINION ENERGY, INC
Dominion Energy filed its Q3 2026 10-Q, reporting operating revenue of $5.617B (+24.1% YoY) and Q3 GAAP diluted EPS of $1.30 versus $1.16 a year ago. Net income attributable to Dominion Energy was $1.16B for the quarter. For the nine months, revenue reached $15.116B but net income fell to $2.121B from $2.431B, weighed down by $878M in impairment charges versus $226M in the prior-year period.
- Q3 revenue of $5.617B, up 24.1% YoY from $4.527B, driven by higher electric fuel and energy-related purchases pass-through.
- Q3 GAAP diluted EPS of $1.30 vs. $1.16 in Q3 2025; net income attributable to Dominion Energy rose to $1.16B from $1.006B.
- Nine-month impairment of assets and other charges surged to $878M from $226M in the prior-year period, compressing YTD operating income.
- Dominion Energy Virginia contributed $413M more YTD net income, driven by $347M from the 2025 Biennial Review and $275M from rider equity returns.
- YTD net income attributable to Dominion Energy fell to $2.121B from $2.431B, with diluted EPS declining to $2.37 from $2.81.
Stock up 2.08% to $66.47 in regular trading, suggesting the market is rewarding the strong Q3 revenue growth and Virginia segment outperformance while looking past the YTD impairment drag.
Dominion's Q3 shows a tale of two trends: surging Virginia load growth driving revenue up 24%, but massive impairment charges eroding YTD profits ahead of the transformative NextEra Energy merger.
Dominion's 24.1% revenue growth far outpaces typical regulated utility peers, reflecting Virginia's data-center-driven load growth. The pending NextEra Energy merger would create one of the largest U.S. utilities, with significant regulatory scrutiny ahead.
Pending NextEra Energy merger (announced May 15, 2026) creates execution and regulatory approval risk. The $878M YTD impairment charge signals potential asset valuation pressure. Rising interest expense (+$226M YTD to $1.739B) could further compress earnings.