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Dominion Energy, Inc (D) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

D Quarterly Reports

Dominion Energy Inc

CIK: 715957 Ticker: D

Exhibit 99

                  May 5, 2020

 

Dominion Energy Announces First-Quarter Earnings

 

First-quarter 2020 GAAP net loss of $0.34 per share; operating earnings of $1.09 per share

 

 

Company initiates second-quarter 2020 operating earnings guidance of $0.75 to $0.85 per share

 

 

Company affirms full-year 2020 operating earnings guidance of $4.25 to $4.60 per share

 

 

RICHMOND, Va. – Dominion Energy (NYSE: D) today announced an unaudited net loss determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended March 31, 2020 of $270 million ($0.34 per share) compared with a net loss of $680 million ($0.86 per share) for the same period in 2019.  

 

Operating earnings for the three months ended March 31, 2020, were $931 million ($1.09 per share), compared with operating earnings of $873 million ($1.10 per share) for the same period in 2019.  The company estimates that its first-quarter 2020 operating earnings were negatively impacted by $0.09 per share due to milder than normal weather in its utility service territories.

 

The difference between GAAP and operating earnings for the three months ended March 31, 2020 was primarily attributable to a non-cash charge related to the planned early retirement of certain coal and oil-fired generating units in Virginia, consistent with the requirements of the recently enacted Virginia Clean Economy Act, and unrealized losses on our nuclear decommissioning trust funds.  The difference between GAAP and operating earnings for the three months ended March 31, 2019 was primarily attributable to charges related to SCANA merger commitments and the early retirement of certain cold-reserve Virginia utility generating units.

 

Operating earnings are defined as reported earnings adjusted for certain items.  Details of operating earnings as compared to prior periods, business segment results and detailed descriptions of items included in reported earnings but excluded from operating earnings can be found on Schedules 1, 2, 3 and 4 of this release.  

 

Operating earnings guidance

Dominion Energy expects second-quarter operating earnings in the range of $0.75 to $0.85 per share, compared to second-quarter 2019 operating earnings of $0.77 per share.

 

The company affirms its full-year 2020 operating earnings guidance range of $4.25 to $4.60 per share.

 

Conference call today

The company will host its first-quarter earnings conference call at 10 a.m. ET on Tuesday, May 5, 2020.  Management will discuss first-quarter financial results and other matters of interest to the financial community.  

 

Domestic callers should dial 1-800-341-6228.  International callers should dial 1-334-777-6993.  The passcode for the conference call is 47792145#.  Participants should dial in 10 to 15 minutes prior to the scheduled start time.  

 

A live webcast of the conference call, including accompanying slides and other financial information, will be available on the investor information pages at investors.dominionenergy.com.

 


The following information was filed by Dominion Energy Inc (D) on Tuesday, May 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited) (Parenthetical)
Consolidated Statements Of Equity (Unaudited)
Consolidated Statements Of Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Income (Unaudited)
Dominion Energy Gas Holdings, Llc Consolidated Statements Of Equity (Unaudited)
Virginia Electric And Power Company Consolidated Statements Of Common Shareholder's Equity (Unaudited)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Schedule Of Changes In Aoci By Component Net Of Tax) (Detail)
Accumulated Other Comprehensive Income (Schedule Of Reclassifications Out Of Aoci By Component Net Of Tax) (Detail)
Accumulated Other Comprehensive Income (Tables)
Acquisitions And Dispositions
Acquisitions And Dispositions (Acquisition Of Scana) (Narrative) (Detail)
Acquisitions And Dispositions (Dominion Energy Gas Restructuring) (Narrative) (Detail)
Acquisitions And Dispositions (Results Of Operations And Pro Forma Information) (Narrative) (Detail)
Acquisitions And Dispositions (Schedule Of Capital Expenditures And Significant Noncash Items Reported As Discontinued Operations) (Detail)
Acquisitions And Dispositions (Schedule Of Results Of Operations Reported As Discontinued Operations) (Detail)
Acquisitions And Dispositions (Schedule Of Unaudited Pro Forma Information) (Detail)
Acquisitions And Dispositions (Tables)
Commitments And Contingencies
Commitments And Contingencies (Guarantees, Surety Bonds And Letters Of Credit) (Detail)
Commitments And Contingencies (Narrative) (Detail)
Commitments And Contingencies (Tables)
Credit Risk
Credit Risk (Narrative) (Detail)
Derivatives And Hedge Accounting Activities
Derivatives And Hedge Accounting Activities (Fair Value Of Derivatives) (Detail)
Derivatives And Hedge Accounting Activities (Gains And Losses On Derivatives In Cash Flow Hedging Relationships) (Detail)
Derivatives And Hedge Accounting Activities (Narrative) (Detail)
Derivatives And Hedge Accounting Activities (Schedule Of Amounts Recorded On Balance Sheet Related To Cumulative Basis Adjustments For Fair Value Hedges) (Detail)
Derivatives And Hedge Accounting Activities (Schedule Of Amounts Recorded On Balance Sheet Related To Cumulative Basis Adjustments For Fair Value Hedges) (Parenthetical) (Detail)
Derivatives And Hedge Accounting Activities (Schedule Of Derivatives Not Designated As Hedging Instruments) (Detail)
Derivatives And Hedge Accounting Activities (Schedule Of Offsetting Assets) (Detail)
Derivatives And Hedge Accounting Activities (Schedule Of Offsetting Assets) (Parenthetical) (Detail)
Derivatives And Hedge Accounting Activities (Schedule Of Offsetting Liabilities) (Detail)
Derivatives And Hedge Accounting Activities (Schedule Of Offsetting Liabilities) (Parenthetical) (Detail)
Derivatives And Hedge Accounting Activities (Selected Information Related To Gains (Losses) On Cash Flow Hedges Included In Aoci) (Detail)
Derivatives And Hedge Accounting Activities (Tables)
Derivatives And Hedge Accounting Activities (Volume Of Derivative Activity) (Detail)
Earnings Per Share
Earnings Per Share (Calculation Of Basic And Diluted Eps) (Detail)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Narrative) (Detail)
Employee Benefit Plans (Net Periodic Benefit Cost (Credit)) (Detail)
Employee Benefit Plans (Tables)
Fair Value Measurements
Fair Value Measurements (Assets And Liabilities That Are Measured At Fair Value On A Recurring Basis) (Detail)
Fair Value Measurements (Assets And Liabilities That Are Measured At Fair Value On A Recurring Basis) (Parenthetical) (Detail)
Fair Value Measurements (Fair Value, Option, Quantitative Disclosures) (Detail)
Fair Value Measurements (Financial Instruments' Carrying Amounts And Fair Values) (Detail)
Fair Value Measurements (Financial Instruments' Carrying Amounts And Fair Values) (Parenthetical) (Detail)
Fair Value Measurements (Narrative) (Detail)
Fair Value Measurements (Net Change In The Assets And Liabilities Measured At Fair Value On A Recurring Basis And Included In The Level 3 Fair Value Category) (Detail)
Fair Value Measurements (Tables)
Income Taxes
Income Taxes (Narrative) (Detail)
Income Taxes (Reconciliation Of Income Taxes At The U.S. Statutory Federal Income Tax Rate) (Detail)
Income Taxes (Reconciliation Of Income Taxes At The U.S. Statutory Federal Income Tax Rate) (Parenthetical) (Detail)
Income Taxes (Tables)
Investments
Investments (Equity And Fixed Income Securities, Insurance Contracts And Cash Equivalents In Decommissioning Trust Funds) (Detail)
Investments (Fair Value Of Fixed Income Securities By Contractual Maturity) (Detail)
Investments (Narrative) (Detail)
Investments (Portion Of Unrealized Gains And Losses Relates To Equity Securities) (Detail)
Investments (Selected Information Regarding Equity And Fixed Income Securities) (Detail)
Investments (Tables)
Leases
Leases (Narrative) (Detail)
Nature Of Operations
Nature Of Operations (Narrative) (Detail)
Operating Revenue
Operating Revenue (Narrative) (Detail)
Operating Revenue (Schedule Of Aggregate Amount Of Transaction Price Allocated To Fixed-Price Performance Obligations That Unsatisfied At End Of Reporting Period And Expected To Be Recognized) (Detail)
Operating Revenue (Schedule Of Aggregate Amount Of Transaction Price Allocated To Fixed-Price Performance Obligations That Unsatisfied At End Of Reporting Period And Expected To Be Recognized) (Detail1)
Operating Revenue (Schedule Of Operating Revenue) (Detail)
Operating Revenue (Schedule Of Operating Revenue) (Parenthetical) (Detail)
Operating Revenue (Tables)
Operating Segments
Operating Segments (Narrative) (Detail)
Operating Segments (Schedule Of Segment Reporting Information, By Segment) (Detail)
Operating Segments (Tables)
Property, Plant And Equipment
Property, Plant And Equipment (Narrative) (Detail)
Regulatory Assets And Liabilities
Regulatory Assets And Liabilities (Narrative) (Detail)
Regulatory Assets And Liabilities (Schedule Of Regulatory Assets) (Detail)
Regulatory Assets And Liabilities (Schedule Of Regulatory Liabilities) (Detail)
Regulatory Assets And Liabilities (Tables)
Regulatory Matters
Regulatory Matters (Narrative) (Detail)
Regulatory Matters (Tables)
Regulatory Matters - Schedule Of Developments For Significant Riders Associated With Virginia Power Projects (Detail)
Related-Party Transactions
Related-Party Transactions (Detail)
Related-Party Transactions (Narrative) (Detail)
Related-Party Transactions (Parenthetical) (Detail)
Related-Party Transactions (Tables)
Significant Accounting Policies
Significant Accounting Policies (Narrative) (Detail)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Reconciliation Of Total Cash, Restricted Cash And Equivalents) (Detail)
Significant Accounting Policies (Reconciliation Of Total Cash, Restricted Cash And Equivalents) (Parenthetical) (Detail)
Significant Accounting Policies (Tables)
Significant Financing Transactions
Significant Financing Transactions (Commercial Paper, Bank Loans And Letters Of Credit Outstanding) (Detail)
Significant Financing Transactions (Commercial Paper, Bank Loans And Letters Of Credit Outstanding) (Parenthetical) (Detail)
Significant Financing Transactions (Narrative) (Detail)
Significant Financing Transactions (Schedule Of Equity Units) (Details)
Significant Financing Transactions (Schedule Of Equity Units) (Parenthetical) (Details)
Significant Financing Transactions (Tables)
Variable Interest Entities
Variable Interest Entities (Narrative) (Detail)
Ticker: D
CIK: 715957
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-20-021084
Submitted to the SEC: Tue May 05 2020 11:40:43 AM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: Electric Services

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