Dominion Energy Announces Fourth-Quarter and Full-Year 2020 Earnings

2/12/21

Dominion Energy (NYSE: D) today announced an unaudited net income determined in accordance with Generally Accepted Accounting Principles (reported earnings) for the three months ended Dec. 31, 2020, of $682 million ($0.82 per share) compared with a net gain of $1.0 billion ($1.21 per share) for the same period in 2019. Reported earnings were a net loss, for the 12 months ended Dec. 31, 2020, of $401 million ($0.57 per share) compared with a net gain of $1.4 billion ($1.62 per share) for the same period in 2019.

Operating earnings for the three months ended Dec. 31, 2020, were $672 million ($0.81 per share), compared with operating earnings of $852 million ($1.02 per share) for the same period in 2019. Operating earnings for the 12 months ended Dec. 31, 2020, were $3.0 billion ($3.54 per share) compared with operating earnings of $2.9 billion ($3.53 per share) for the same period in 2019.

The difference between GAAP and operating earnings for the 12 months ended Dec. 31, 2020, was primarily attributable to a net loss from discontinued operations associated with the sale of the Gas Transmission & Storage segment and the cancellation of the Atlantic Coast Pipeline project and charges associated with the planned early retirement of electric generation facilities in Virginia.

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.

About Dominion Energy

More than 7 million customers in 16 states?energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in?Richmond, Va.?The company is committed to sustainable, reliable, affordable and safe energy?and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050.?Please visit DominionEnergy.com?to learn more.