Dominion Energy announced this week an unaudited net income determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended June 30, 2021, of $285 million ($0.33 per share) compared with a net loss of $1.2 billion ($1.52 per share) for the same period in 2020.
Operating earnings for the three months ended June 30, 2021, were $628 million ($0.76 per share), compared to operating earnings of $630 million ($0.73 per share) for the same period in 2020.
GAAP earnings for the three months ended June 30, 2021, relative to operating earnings reflect the mark-to-market impact of economic hedging activities, unrealized changes in the value of our nuclear decommissioning trust fund, the contribution from Questar Pipelines, which will continue to be accounted for as discontinued operations until divested, and other adjustments.
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.
Third-quarter 2021 operating earnings are expected to be in the range of $0.95 to $1.10 per share.
The company affirms its full-year 2021 operating earnings guidance range of $3.70 to $4.00 per share. The company also affirms its long-term earnings and dividend growth guidance.
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Chris Graham
