– моментальные уведомления о рынке акций
– моментальные уведомления о рынке акций
RICHMOND, Va., May 5, 2022 /PRNewswire/ -- 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 March 31, 2022, of $711 million ($0.83 per share) compared with net income of $1.0 billion ($1.23 per share) for the same period in 2021.
Operating earnings for the three months ended March 31, 2022, were $1.0 billion ($1.18 per share), compared with operating earnings of $893 million ($1.09 per share) for the same period in 2021.
The difference between GAAP and operating earnings for the three months ended March 31, 2022, reflect the mark-to-market impact of economic hedging activities, gains and losses on nuclear decommissioning trust funds 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.
GuidanceDominion Energy expects second-quarter operating earnings in the range of $0.70 to $0.80 per share.
The company affirms its full-year 2022 operating earnings guidance range of $3.95 to $4.25 per share. The company also affirms its long-term earnings and dividend growth guidance.
Webcast todayThe company will host its first-quarter 2022 earnings call at 10 a.m. ET on Thursday, May 5, 2022. Management will discuss matters of interest to financial and other stakeholders including recent financial results.
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.
For individuals who prefer to join via telephone, domestic callers should dial 1-800-420-1271 and international callers should dial 1-785-424-1205. The passcode for the telephonic earnings call is 45689. Participants should dial in 10 to 15 minutes prior to the scheduled start time.
A replay of the webcast will be available on the investor information pages by the end of the day May 5. A telephonic replay of the earnings call will be available beginning at about 1 p.m. ET on May 5. Domestic callers may access the recording by dialing 1-800-839-9719. International callers should dial 1-402-220-6091. The PIN for the replay is 50071.
Important note to investors regarding operating, reported earningsDominion Energy uses operating earnings as the primary performance measurement of its earnings guidance and results for public communications with analysts and investors. Dominion Energy also uses operating earnings internally for budgeting, for reporting to the Board of Directors, for the company's incentive compensation plans and for its targeted dividend payouts and other purposes. Dominion Energy management believes operating earnings provide a more meaningful representation of the company's fundamental earnings power.
In providing its operating earnings guidance, the company notes that there could be differences between expected reported earnings and estimated operating earnings for matters such as, but not limited to, acquisitions, divestitures or extreme weather events and other natural disasters. Dominion Energy management is not able to estimate the aggregate impact of these items on future period reported earnings.
About Dominion EnergyAbout 7 million customers in 13 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.
This release contains certain forward-looking statements, including forecasted operating earnings second-quarter and full-year 2022 and beyond which are subject to various risks and uncertainties. Factors that could cause actual results to differ include, but are not limited to: unusual weather conditions and their effect on energy sales to customers and energy commodity prices; extreme weather events and other natural disasters; extraordinary external events, such as the current pandemic health event resulting from COVID-19; federal, state and local legislative and regulatory developments; changes to regulated rates collected by Dominion Energy; timing and receipt of regulatory approvals necessary for planned construction or expansion projects and compliance with conditions associated with such regulatory approvals; the inability to complete planned construction projects within time frames initially anticipated; risks and uncertainties that may impact the ability to develop and construct the Coastal Virginia Offshore Wind (CVOW) Commercial Project within the currently proposed timeline, or at all, and consistent with current cost estimates along with the ability to recover such costs from customers; changes to federal, state and local environmental laws and regulations, including those related to climate change; cost of environmental strategy and compliance, including cost related to climate change; changes in implementation and enforcement practices of regulators relating to environmental standards and litigation exposure for remedial activities; changes in operating, maintenance and construction costs; additional competition in Dominion Energy's industries; changes in demand for Dominion Energy's services; receipt of approvals for, and timing of, closing dates for acquisitions and divestitures; impacts of acquisitions, divestitures, transfers of assets by Dominion Energy to joint ventures, and retirements of assets based on asset portfolio reviews; the expected timing and likelihood of the completion of the proposed sales of Kewaunee and Hope, including the ability to obtain the requisite regulatory approvals and the terms and conditions of such regulatory approvals; adverse outcomes in litigation matters or regulatory proceedings; fluctuations in interest rates; fluctuations in currency exchange rates of the Euro or Danish Krone associated with the CVOW Commercial Project; changes in rating agency requirements or credit ratings and their effect on availability and cost of capital; and capital market conditions, including the availability of credit and the ability to obtain financing on reasonable terms. Other risk factors are detailed from time to time in Dominion Energy's quarterly reports on Form 10-Q and most recent annual report on Form 10-K filed with the Securities and Exchange Commission.
Dominion Energy, Inc. |
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Consolidated Statements of Income * |
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Unaudited (GAAP Based) |
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(millions, except per share amounts) |
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Three Months Ended |
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March 31, |
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2022 |
2021 |
||
Operating Revenue |
$ 4,279 |
$ 3,870 |
|
Operating Expenses |
|||
Electric fuel and other energy-related purchases |
678 |
550 |
|
Purchased electric capacity |
13 |
11 |
|
Purchased gas |
645 |
484 |
|
Other operations and maintenance1 |
1,016 |
1,082 |
|
Depreciation, depletion and amortization |
698 |
608 |
|
Other taxes |
253 |
257 |
|
Total operating expenses |
3,303 |
2,992 |
|
Income from operations |
976 |
878 |
|
Other income2 |
126 |
367 |
|
Interest and related charges |
174 |
53 |
|
Income from continuing operations |
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before income tax expense |
928 |
1,192 |
|
Income tax expense |
236 |
212 |
|
Net Income from continuing operations |
692 |
980 |
|
Net Income from discontinued operations |
19 |
28 |
|
Net Income |
$ 711 |
$ 1,008 |
|
Reported Income per common share from continuing operations - diluted |
$ 0.81 |
$ 1.19 |
|
Reported Income per common share from discontinued operations - diluted |
0.02 |
0.04 |
|
Reported Income per common share - diluted |
$ 0.83 |
$ 1.23 |
|
Average shares outstanding, diluted |
832.0 |
805.9 |
|
1)Includes impairment of assets and other charges (benefits) and losses (gains) on sales of assets. |
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2)Includes earnings from equity method investees. |
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* The notes contained in Dominion Energy's most recent quarterly report on Form 10-Q or annual report on |
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Form 10-K are an integral part of the Consolidated Financial Statements. |
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Schedule 1 - Segment Reported and Operating Earnings |
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Unaudited |
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(millions, except per share amounts) |
Three months ended March 31, |
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2022 |
2021 |
Change |
||||||
REPORTED EARNINGS1 |
$ 711 |
$ 1,008 |
$ (297) |
|||||
Pre-tax loss (income)2 |
255 |
(152) |
407 |
|||||
Income tax2 |
34 |
37 |
(3) |
|||||
Adjustments to reported earnings |
289 |
(115) |
404 |
|||||
OPERATING EARNINGS |
$ 1,000 |
$ 893 |
$ 107 |
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By segment: |
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Dominion Energy Virginia |
518 |
434 |
84 |
|||||
Gas Distribution |
294 |
251 |
43 |
|||||
Dominion Energy South Carolina |
109 |
102 |
7 |
|||||
Contracted Assets |
101 |
150 |
(49) |
|||||
Corporate and Other |
(22) |
(44) |
22 |
|||||
$ 1,000 |
$ 893 |
$ 107 |
||||||
Earnings Per Share (EPS):3 |
||||||||
REPORTED EARNINGS 1 |
$ 0.83 |
$ 1.23 |
$ (0.40) |
|||||
Adjustments to reported earnings (after tax) |
0.35 |
(0.14) |
0.49 |
|||||
OPERATING EARNINGS |
$ 1.18 |
$ 1.09 |
$ 0.09 |
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By segment: |
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Dominion Energy Virginia |
0.64 |
0.54 |
0.10 |
|||||
Gas Distribution |
0.36 |
0.31 |
0.05 |
|||||
Dominion Energy South Carolina |
0.13 |
0.13 |
- |
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Contracted Assets |
0.13 |
0.18 |
(0.05) |
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Corporate and Other |
(0.08) |
(0.07) |
(0.01) |
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$ 1.18 |
$ 1.09 |
$ 0.09 |
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Common Shares Outstanding (average, diluted) |
832.0 |
805.9 |
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1) |
Determined in accordance with Generally Accepted Accounting Principles (GAAP). |
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2) |
Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details, or find "GAAP |
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Reconciliation" in the Earnings Release Kit on Dominion Energy's website at investors.dominionenergy.com. |
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3) |
The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. Effective January 2022, the calculation of diluted reported and operating earnings per share assumes conversion of the Series A preferred stock to common stock as of January 1, 2022. In prior periods, a fair value adjustment of the Series A preferred stock was included in the calculation of diluted reported earnings per share if dilutive. No adjustment was necessary for the three months ended March 31, 2021. For the three months ended March 31, 2022, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of $9 million (Series B) and $11 million (Series C, issued in December 2021). For the three months ended March 31, 2021, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of $7 million (Series A) and $9 million (Series B). See Forms 10-Q and 10-K for additional information. |
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Schedule 2 - Reconciliation of 2022 Reported Earnings to Operating Earnings
2022 Earnings (Three months ended March 31, 2022)
The $255 million pre-tax net loss of the adjustments included in 2022 reported earnings, but excluded from operating earnings, is primarily related to the following items:
(millions, except per share amounts) |
1Q22 |
2Q22 |
3Q22 |
4Q22 |
YTD 2022 |
|
Reported earnings |
$711 |
$0 |
$0 |
$0 |
$711 |
|
Adjustments to reported earnings1: |
||||||
Pre-tax loss (income) |
255 |
0 |
0 |
0 |
255 |
|
Income tax |
34 |
0 |
0 |
0 |
34 |
|
289 |
0 |
0 |
0 |
289 |
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Operating earnings |
$1,000 |
$0 |
$0 |
$0 |
$1,000 |
|
Common shares outstanding (average, diluted) |
832.0 |
0.0 |
0.0 |
0.0 |
832.0 |
|
Reported earnings per share2 |
$0.83 |
$0.00 |
$0.00 |
$0.00 |
$0.83 |
|
Adjustments to reported earnings per share2 |
0.35 |
0.00 |
0.00 |
0.00 |
0.35 |
|
Operating earnings per share2 |
$1.18 |
$0.00 |
$0.00 |
$0.00 |
$1.18 |
|
1) Adjustments to reported earnings are reflected in the following table: |
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1Q22 |
2Q22 |
3Q22 |
4Q22 |
YTD 2022 |
||
Pre-tax loss (income): |
||||||
Net loss on NDT funds |
$125 |
$0 |
$0 |
$0 |
$125 |
|
Mark-to-market impact of economic hedging activities |
(4) |
0 |
0 |
0 |
(4) |
|
Discontinued operations - Gas Transmission & Storage segment |
(25) |
0 |
0 |
0 |
(25) |
|
Storm damage and restoration costs |
94 |
0 |
0 |
0 |
94 |
|
Regulated asset retirements and other charges |
65 |
0 |
0 |
0 |
65 |
|
$255 |
$0 |
$0 |
$0 |
$255 |
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Income tax expense (benefit): |
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Tax effect of above adjustments to reported earnings* |
(53) |
0 |
0 |
0 |
(53) |
|
Deferred taxes associated with Hope Gas, Inc. divestiture3 |
87 |
0 |
0 |
0 |
87 |
|
$34 |
$0 |
$0 |
$0 |
$34 |
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* Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting |
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purposes, such amounts may be adjusted in connection with the calculation of the Company's year-to-date income tax provision based |
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on its estimated annual effective tax rate. |
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2) The calculation of reported and operating earnings per share, effective January 2022, assumes conversion of the Series A preferred stock |
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to common stock as of January 1, 2022. For the first quarter of 2022, the calculation of reported and operating earnings per share |
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includes the impact of preferred dividends associated with preferred stock of $9 million (Series B) and $11 million (Series C). |
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See Forms 10-Q and 10-K for additional information. |
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3) Represents deferred taxes related to the basis in Hope Gas, Inc.'s stock that will reverse upon completion of the sale. |
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Schedule 3 - Reconciliation of 2021 Reported Earnings to Operating Earnings
2021 Earnings (Twelve months ended December 31, 2021)
The $26 million pre-tax net gain of the adjustments included in 2021 reported earnings, but excluded from operating earnings, is primarily related to the following items:
(millions, except per share amounts) |
1Q21 |
2Q21 |
3Q21 |
4Q21 |
YTD 2021 |
3 |
|
Reported earnings |
$ 1,008 |
$ 285 |
$ 654 |
$ 1,341 |
$ 3,288 |
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Adjustments to reported earnings 1: |
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Pre-tax loss (income) |
(152) |
474 |
413 |
(761) |
(26) |
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Income tax |
37 |
(131) |
(149) |
172 |
(71) |
||
(115) |
343 |
264 |
(589) |
(97) |
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Operating earnings |
$ 893 |
$ 628 |
$ 918 |
$ 752 |
$ 3,191 |
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Common shares outstanding (average, diluted) |
805.9 |
806.6 |
810.0 |
811.0 |
808.5 |
||
Reported earnings per share 2 |
$ 1.23 |
$ 0.33 |
$ 0.79 |
$ 1.63 |
$ 3.98 |
||
Adjustments to reported earnings per share 2 |
(0.14) |
0.43 |
0.32 |
(0.73) |
(0.12) |
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Operating earnings per share 2 |
$ 1.09 |
$ 0.76 |
$ 1.11 |
$ 0.90 |
$ 3.86 |
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1) Adjustments to reported earnings are reflected in the following table: |
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1Q21 |
2Q21 |
3Q21 |
4Q21 |
YTD 2021 |
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Pre-tax loss (income): |
|||||||
Net (gain) loss on NDT funds |
$ (134) |
$ (194) |
$ 19 |
$ (259) |
$ (568) |
||
Mark-to-market impact of economic hedging activities |
(278) |
291 |
284 |
(37) |
260 |
||
Discontinued operations - Gas Transmission & Storage segment |
(35) |
(30) |
(59) |
(705) |
(829) |
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Regulated asset retirements and other charges |
100 |
278 |
119 |
67 |
564 |
||
Sales of non-wholly-owned nonregulated solar facilities |
- |
- |
23 |
212 |
235 |
||
Merger litigation and integration charges |
71 |
48 |
8 |
(28) |
99 |
||
Workplace realignment |
71 |
- |
17 |
(11) |
77 |
||
Storm damage and restoration costs |
51 |
17 |
- |
- |
68 |
||
Kewaunee decommissioning revision |
- |
44 |
- |
- |
44 |
||
Other |
2 |
20 |
2 |
- |
24 |
||
$ (152) |
$ 474 |
$ 413 |
$ (761) |
$ (26) |
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Income tax expense (benefit): |
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Tax effect of above adjustments to reported earnings * |
37 |
(131) |
(140) |
204 |
(30) |
||
Other |
- |
- |
(9) |
(32) |
(41) |
||
$ 37 |
$ (131) |
$ (149) |
$ 172 |
$ (71) |
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* Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes, |
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such amounts may be adjusted in connection with the calculation of the Company's year-to-date income tax provision based on its estimated |
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annual effective tax rate. |
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2) The calculation of operating earnings per share excludes the impact, if any, of fair value adjustments related to the Company's convertible preferred |
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securities entered in June 2019. Such fair value adjustments, if any, are required for the calculation of diluted reported earnings per share. No |
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adjustments were necessary for the three months ended March 31, June 30 or September 30 or for the three and twelve months ended December 31. |
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During each quarter of 2021, the calculation of reported and operating earnings per share includes the impact of preferred dividends of $7 million |
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associated with the Series A preferred stock equity units and $9 million associated with the Series B preferred stock equity units. In addition, the |
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fourth quarter of 2021 includes $3 million of preferred dividends associated with the Series C preferred stock issued in December 2021. |
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See Forms 10-Q and 10-K for additional information. |
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3) YTD EPS may not equal sum of quarters due to share count difference and fair value adjustment associated with the convertible preferred |
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securities. |
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Schedule 4 - Reconciliation of 1Q22 Earnings to 1Q21 |
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Preliminary, Unaudited |
Three Months Ended |
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(millions, except EPS) |
March 31, |
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2022 vs. 2021 |
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Increase / (Decrease) |
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Reconciling Items |
Amount |
EPS |
|
Change in reported earnings (GAAP) |
$ (297) |
$ (0.40) |
|
Change in Pre-tax loss (income) 1 |
407 |
||
Change in Income tax 1 |
(3) |
||
Adjustments to reported earnings |
$ 404 |
$ 0.49 |
|
Change in consolidated operating earnings |
$ 107 |
$ 0.09 |
|
Dominion Energy Virginia |
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Regulated electric sales: |
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Weather |
$ 14 |
$ 0.02 |
|
Other |
(9) |
(0.01) |
|
Rider equity return |
16 |
0.02 |
|
Electric capacity |
(8) |
(0.01) |
|
Planned outage costs |
(7) |
(0.01) |
|
Depreciation & amortization |
7 |
0.01 |
|
Renewable energy investment tax credits |
61 |
0.08 |
|
Other |
10 |
0.01 |
|
Share dilution |
- |
(0.01) |
|
Change in contribution to operating earnings |
$ 84 |
$ 0.10 |
|
Gas Distribution |
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Regulated gas sales: |
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Weather |
$ 2 |
- |
|
Other |
34 |
0.04 |
|
Rider equity return |
8 |
0.01 |
|
Interest expense, net |
1 |
- |
|
Other |
(2) |
- |
|
Share dilution |
- |
||
Change in contribution to operating earnings |
$ 43 |
$ 0.05 |
|
Dominion Energy South Carolina |
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Regulated electric sales: |
|||
Weather |
$ 1 |
- |
|
Other |
15 |
0.02 |
|
Regulated gas sales |
3 |
- |
|
Other |
(12) |
(0.02) |
|
Share dilution |
- |
||
Change in contribution to operating earnings |
$ 7 |
$ - |
|
Contracted Assets |
|||
Margin |
$ (24) |
$ (0.03) |
|
Planned outage costs |
(4) |
- |
|
Renewable energy investment tax credits |
(29) |
(0.04) |
|
Other |
8 |
0.02 |
|
Share dilution |
- |
||
Change in contribution to operating earnings |
$ (49) |
$ (0.05) |
|
Corporate and Other |
|||
Other |
$ 22 |
$ 0.02 |
|
Share dilution |
- |
(0.03) |
|
Change in contribution to operating earnings |
$ 22 |
$ (0.01) |
|
Change in consolidated operating earnings |
$ 107 |
$ 0.09 |
|
Change in adjustments included in reported earnings1 |
$ (404) |
$ (0.49) |
|
Change in consolidated reported earnings |
$ (297) |
$ (0.40) |
|
1) |
Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. |
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Refer to Schedules 2 and 3 for details, or find "GAAP Reconciliation" in the Earnings Release Kit on Dominion Energy's |
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website at investors.dominionenergy.com. |
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Note: Figures may not sum due to rounding |
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SOURCE Dominion Energy
РИЧМОНД, Вирджиния, 5 мая 2022 г. /PRNewswire/ -- Dominion Energy (NYSE: D) сегодня объявила о неаудированной чистой прибыли, определенной в соответствии с Общепринятыми принципами бухгалтерского учета (отчетная прибыль) за три месяца, закончившихся 31 марта 2022 г., в размере 711 миллионов долларов (0,83 доллара на акцию) по сравнению с чистой доход в размере 1,0 миллиарда долларов (1,23 доллара на акцию) за аналогичный период 2021 года.
Операционная прибыль за три месяца, закончившихся 31 марта 2022 года, составила 1,0 миллиарда долларов (1,18 доллара на акцию) по сравнению с операционной прибылью в размере 893 миллионов долларов (1,09 доллара на акцию) за аналогичный период 2021 года.
Разница между GAAP и операционной прибылью за три месяца, закончившихся 31 марта 2022 года, отражает влияние деятельности по экономическому хеджированию, прибыли и убытки от целевых фондов по выводу из эксплуатации ядерных объектов и другие корректировки.
Операционная прибыль определяется как отчетная прибыль, скорректированная по определенным статьям. Подробная информация об операционной прибыли по сравнению с предыдущими периодами, результаты бизнес-сегмента и подробные описания статей, включенных в отчетную прибыль, но исключенных из операционной прибыли, можно найти в Таблицах 1, 2, 3 и 4 этого выпуска.
Руководство Dominion Energy ожидает, что операционная прибыль во втором квартале составит от 0,70 до 0,80 доллара на акцию.
Компания подтверждает прогноз по операционной прибыли на весь 2022 год в диапазоне от 3,95 до 4,25 доллара на акцию. Компания также подтверждает свои долгосрочные прогнозы по прибыли и росту дивидендов.
Сегодняшняя веб-трансляция Компания проведет свой отчет о доходах за первый квартал 2022 года в 10 утра по восточному времени в четверг, 5 мая 2022 года. Руководство обсудит вопросы, представляющие интерес для финансовых и других заинтересованных сторон, включая последние финансовые результаты.
Прямая веб-трансляция телефонной конференции, включая сопроводительные слайды и другую финансовую информацию, будет доступна на страницах информации для инвесторов по адресу investors.dominionenergy.com .
Для тех, кто предпочитает подключаться по телефону, внутренним абонентам следует набрать 1-800-420-1271, а международным абонентам - 1-785-424-1205. Код доступа для телефонного звонка о доходах - 45689. Участники должны набрать номер за 10-15 минут до запланированного времени начала.
Повтор веб-трансляции будет доступен на информационных страницах для инвесторов к концу дня 5 мая. Телефонный повтор звонка о доходах будет доступен, начиная примерно с 1 часа дня по восточному времени 5 мая. Внутренние абоненты могут получить доступ к записи, набрав номер 1-800-839-9719. Международные абоненты должны набрать 1-402-220-6091. PIN-код для повтора - 50071.
Важное примечание для инвесторов относительно операционной прибыли, о которой сообщается в отчетахdominion Energy использует операционную прибыль в качестве основного показателя эффективности своих рекомендаций по доходам и результатов для публичных коммуникаций с аналитиками и инвесторами. Dominion Energy также использует операционную прибыль внутри компании для составления бюджета, отчетности перед Советом директоров, для планов поощрительных компенсаций компании, а также для целевых выплат дивидендов и других целей. Руководство Dominion Energy считает, что операционная прибыль обеспечивает более значимое представление о фундаментальной прибыли компании.
Предоставляя свои рекомендации по операционной прибыли, компания отмечает, что могут быть различия между ожидаемой отчетной прибылью и предполагаемой операционной прибылью по таким вопросам, как, но не ограничиваясь ими, приобретения, продажи или экстремальные погодные явления и другие стихийные бедствия. Руководство Dominion Energy не в состоянии оценить совокупное влияние этих статей на отчетную прибыль за будущий период.
О Dominion Energy Около 7 миллионов клиентов в 13 штатах снабжают свои дома и предприятия электроэнергией или природным газом от Dominion Energy (NYSE: D) со штаб-квартирой в Ричмонде, штат Вирджиния. Компания стремится к устойчивой, надежной, доступной и безопасной энергии, а также к достижению чистого нулевого уровня выбросов углекислого газа и метана в результате своей деятельности по производству электроэнергии и газовой инфраструктуры к 2050 году. Пожалуйста, посетите DominionEnergy.com чтобы узнать больше.
Этот релиз содержит определенные прогнозные заявления, в том числе прогнозируемые операционные доходы за второй квартал и весь 2022 год и далее, которые подвержены различным рискам и неопределенностям. Факторы, которые могут вызвать фактические результаты будут отличаться включать в себя, но не ограничиваются следующим: необычные погодные условия и их влияние на энергетические продаж покупателям и энергию, цен на сырьевые товары; экстремальные погодные явления и другие стихийные бедствия; чрезвычайные внешние события, такие, как нынешняя пандемия здоровье событие, возникающее в результате COVID-19; федеральных, государственных и местных законодательных и нормативных изменений; изменения регулируемых тарифов собраны Dominion Energy; сроки и получение регуляторных согласований, необходимых для планируемого строительства или расширения проектов и выполнение условий, связанных с таким нормативным документам; невозможность полной запланированных к строительству объектов в сроки, первоначально предполагалось, риски и неопределенности, которые могут повлиять на возможность развиваться и строить прибрежной Вирджинии морского ветра (CVOW) коммерческий проект в настоящее время указанные сроки, или вообще, и в соответствии с текущей сметы расходов, а также возможность взыскать такие расходы с клиентами; изменения в федеральные, региональные и местные экологические законы и правила, в том числе связанных с изменением климата; стоимость экологической стратегии и соответствия, в том числе расходов, связанных с изменением климата; изменения в реализации и правоприменительной практики регуляторов, касающихся экологических норм и судебной практики воздействием коррекционной деятельности; внесение изменений в Руководства по эксплуатации, обслуживанию и затрат на строительство; дополнительный конкурс в Dominion Energy отраслях экономики; изменения спроса на Dominion Energy услуг; получение согласований и сроках, датах закрытия для приобретений и выбытий; последствия приобретения, выбытия, перевода активов по Dominion Energy для совместных предприятий, а также списание активов на основе портфеля активов, комментарии; ожидаемых сроков и вероятности реализации предлагаемой продаж kewaunee, так и надежду, в том числе возможность получения необходимых регуляторных разрешений и условия таких разрешений контролирующих органов; неблагоприятный исход судебного разбирательства или надзорном производстве; колебания процентных ставок, колебаний обменных курсов евро и датская крона связанные с CVOW коммерческого проекта; изменения в рейтинговое агентство требований или кредитные рейтинги и их влияние на доступности и стоимости капитала; рынка капитала и условия, в том числе доступность кредитования и возможность получить финансирование на приемлемых условиях. Другие факторы риска время от времени подробно описываются в квартальных отчетах Dominion Energy по форме 10-Q и последнем годовом отчете по форме 10-K, поданном в Комиссию по ценным бумагам и биржам.
Dominion Energy, Inc. |
|||
Consolidated Statements of Income * |
|||
Unaudited (GAAP Based) |
|||
(millions, except per share amounts) |
|||
Three Months Ended |
|||
March 31, |
|||
2022 |
2021 |
||
Operating Revenue |
$ 4,279 |
$ 3,870 |
|
Operating Expenses |
|||
Electric fuel and other energy-related purchases |
678 |
550 |
|
Purchased electric capacity |
13 |
11 |
|
Purchased gas |
645 |
484 |
|
Other operations and maintenance1 |
1,016 |
1,082 |
|
Depreciation, depletion and amortization |
698 |
608 |
|
Other taxes |
253 |
257 |
|
Total operating expenses |
3,303 |
2,992 |
|
Income from operations |
976 |
878 |
|
Other income2 |
126 |
367 |
|
Interest and related charges |
174 |
53 |
|
Income from continuing operations |
|||
before income tax expense |
928 |
1,192 |
|
Income tax expense |
236 |
212 |
|
Net Income from continuing operations |
692 |
980 |
|
Net Income from discontinued operations |
19 |
28 |
|
Net Income |
$ 711 |
$ 1,008 |
|
Reported Income per common share from continuing operations - diluted |
$ 0.81 |
$ 1.19 |
|
Reported Income per common share from discontinued operations - diluted |
0.02 |
0.04 |
|
Reported Income per common share - diluted |
$ 0.83 |
$ 1.23 |
|
Average shares outstanding, diluted |
832.0 |
805.9 |
|
1)Includes impairment of assets and other charges (benefits) and losses (gains) on sales of assets. |
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2)Includes earnings from equity method investees. |
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* The notes contained in Dominion Energy's most recent quarterly report on Form 10-Q or annual report on |
|||
Form 10-K are an integral part of the Consolidated Financial Statements. |
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Schedule 1 - Segment Reported and Operating Earnings |
||||||||
Unaudited |
||||||||
(millions, except per share amounts) |
Three months ended March 31, |
|||||||
2022 |
2021 |
Change |
||||||
REPORTED EARNINGS1 |
$ 711 |
$ 1,008 |
$ (297) |
|||||
Pre-tax loss (income)2 |
255 |
(152) |
407 |
|||||
Income tax2 |
34 |
37 |
(3) |
|||||
Adjustments to reported earnings |
289 |
(115) |
404 |
|||||
OPERATING EARNINGS |
$ 1,000 |
$ 893 |
$ 107 |
|||||
By segment: |
||||||||
Dominion Energy Virginia |
518 |
434 |
84 |
|||||
Gas Distribution |
294 |
251 |
43 |
|||||
Dominion Energy South Carolina |
109 |
102 |
7 |
|||||
Contracted Assets |
101 |
150 |
(49) |
|||||
Corporate and Other |
(22) |
(44) |
22 |
|||||
$ 1,000 |
$ 893 |
$ 107 |
||||||
Earnings Per Share (EPS):3 |
||||||||
REPORTED EARNINGS 1 |
$ 0.83 |
$ 1.23 |
$ (0.40) |
|||||
Adjustments to reported earnings (after tax) |
0.35 |
(0.14) |
0.49 |
|||||
OPERATING EARNINGS |
$ 1.18 |
$ 1.09 |
$ 0.09 |
|||||
By segment: |
||||||||
Dominion Energy Virginia |
0.64 |
0.54 |
0.10 |
|||||
Gas Distribution |
0.36 |
0.31 |
0.05 |
|||||
Dominion Energy South Carolina |
0.13 |
0.13 |
- |
|||||
Contracted Assets |
0.13 |
0.18 |
(0.05) |
|||||
Corporate and Other |
(0.08) |
(0.07) |
(0.01) |
|||||
$ 1.18 |
$ 1.09 |
$ 0.09 |
||||||
Common Shares Outstanding (average, diluted) |
832.0 |
805.9 |
||||||
1) |
Determined in accordance with Generally Accepted Accounting Principles (GAAP). |
|||||||
2) |
Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. Refer to Schedules 2 and 3 for details, or find "GAAP |
|||||||
Reconciliation" in the Earnings Release Kit on Dominion Energy's website at investors.dominionenergy.com. |
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3) |
The calculation of reported and operating earnings per share on a consolidated basis utilizes shares outstanding on a diluted basis with all dilutive impacts, primarily consisting of potential shares which had not yet been issued, reflected in the Corporate and Other segment. Effective January 2022, the calculation of diluted reported and operating earnings per share assumes conversion of the Series A preferred stock to common stock as of January 1, 2022. In prior periods, a fair value adjustment of the Series A preferred stock was included in the calculation of diluted reported earnings per share if dilutive. No adjustment was necessary for the three months ended March 31, 2021. For the three months ended March 31, 2022, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of $9 million (Series B) and $11 million (Series C, issued in December 2021). For the three months ended March 31, 2021, the calculation of reported and operating earnings per share includes the impact of preferred dividends associated with preferred stock of $7 million (Series A) and $9 million (Series B). See Forms 10-Q and 10-K for additional information. |
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Таблица 2 - Сверка Отчетных доходов за 2022 год с Операционными доходами
Прибыль за 2022 год (за три месяца, закончившихся 31 марта 2022 года)
Чистый убыток до налогообложения в размере 255 миллионов долларов США от корректировок, включенных в отчетную прибыль за 2022 год, но исключенных из операционной прибыли, в основном связан со следующими статьями:
(millions, except per share amounts) |
1Q22 |
2Q22 |
3Q22 |
4Q22 |
YTD 2022 |
|
Reported earnings |
$711 |
$0 |
$0 |
$0 |
$711 |
|
Adjustments to reported earnings1: |
||||||
Pre-tax loss (income) |
255 |
0 |
0 |
0 |
255 |
|
Income tax |
34 |
0 |
0 |
0 |
34 |
|
289 |
0 |
0 |
0 |
289 |
||
Operating earnings |
$1,000 |
$0 |
$0 |
$0 |
$1,000 |
|
Common shares outstanding (average, diluted) |
832.0 |
0.0 |
0.0 |
0.0 |
832.0 |
|
Reported earnings per share2 |
$0.83 |
$0.00 |
$0.00 |
$0.00 |
$0.83 |
|
Adjustments to reported earnings per share2 |
0.35 |
0.00 |
0.00 |
0.00 |
0.35 |
|
Operating earnings per share2 |
$1.18 |
$0.00 |
$0.00 |
$0.00 |
$1.18 |
|
1) Adjustments to reported earnings are reflected in the following table: |
||||||
1Q22 |
2Q22 |
3Q22 |
4Q22 |
YTD 2022 |
||
Pre-tax loss (income): |
||||||
Net loss on NDT funds |
$125 |
$0 |
$0 |
$0 |
$125 |
|
Mark-to-market impact of economic hedging activities |
(4) |
0 |
0 |
0 |
(4) |
|
Discontinued operations - Gas Transmission & Storage segment |
(25) |
0 |
0 |
0 |
(25) |
|
Storm damage and restoration costs |
94 |
0 |
0 |
0 |
94 |
|
Regulated asset retirements and other charges |
65 |
0 |
0 |
0 |
65 |
|
$255 |
$0 |
$0 |
$0 |
$255 |
||
Income tax expense (benefit): |
||||||
Tax effect of above adjustments to reported earnings* |
(53) |
0 |
0 |
0 |
(53) |
|
Deferred taxes associated with Hope Gas, Inc. divestiture3 |
87 |
0 |
0 |
0 |
87 |
|
$34 |
$0 |
$0 |
$0 |
$34 |
||
* Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting |
||||||
purposes, such amounts may be adjusted in connection with the calculation of the Company's year-to-date income tax provision based |
||||||
on its estimated annual effective tax rate. |
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2) The calculation of reported and operating earnings per share, effective January 2022, assumes conversion of the Series A preferred stock |
||||||
to common stock as of January 1, 2022. For the first quarter of 2022, the calculation of reported and operating earnings per share |
||||||
includes the impact of preferred dividends associated with preferred stock of $9 million (Series B) and $11 million (Series C). |
||||||
See Forms 10-Q and 10-K for additional information. |
||||||
3) Represents deferred taxes related to the basis in Hope Gas, Inc.'s stock that will reverse upon completion of the sale. |
||||||
Таблица 3 - Сверка Отчетных доходов за 2021 год с Операционными доходами
Прибыль за 2021 год (Двенадцать месяцев, закончившихся 31 декабря 2021 года)
Чистая прибыль до налогообложения в размере 26 миллионов долларов США от корректировок, включенных в отчетную прибыль за 2021 год, но исключенных из операционной прибыли, в основном связана со следующими статьями:
(millions, except per share amounts) |
1Q21 |
2Q21 |
3Q21 |
4Q21 |
YTD 2021 |
3 |
|
Reported earnings |
$ 1,008 |
$ 285 |
$ 654 |
$ 1,341 |
$ 3,288 |
||
Adjustments to reported earnings 1: |
|||||||
Pre-tax loss (income) |
(152) |
474 |
413 |
(761) |
(26) |
||
Income tax |
37 |
(131) |
(149) |
172 |
(71) |
||
(115) |
343 |
264 |
(589) |
(97) |
|||
Operating earnings |
$ 893 |
$ 628 |
$ 918 |
$ 752 |
$ 3,191 |
||
Common shares outstanding (average, diluted) |
805.9 |
806.6 |
810.0 |
811.0 |
808.5 |
||
Reported earnings per share 2 |
$ 1.23 |
$ 0.33 |
$ 0.79 |
$ 1.63 |
$ 3.98 |
||
Adjustments to reported earnings per share 2 |
(0.14) |
0.43 |
0.32 |
(0.73) |
(0.12) |
||
Operating earnings per share 2 |
$ 1.09 |
$ 0.76 |
$ 1.11 |
$ 0.90 |
$ 3.86 |
||
1) Adjustments to reported earnings are reflected in the following table: |
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1Q21 |
2Q21 |
3Q21 |
4Q21 |
YTD 2021 |
|||
Pre-tax loss (income): |
|||||||
Net (gain) loss on NDT funds |
$ (134) |
$ (194) |
$ 19 |
$ (259) |
$ (568) |
||
Mark-to-market impact of economic hedging activities |
(278) |
291 |
284 |
(37) |
260 |
||
Discontinued operations - Gas Transmission & Storage segment |
(35) |
(30) |
(59) |
(705) |
(829) |
||
Regulated asset retirements and other charges |
100 |
278 |
119 |
67 |
564 |
||
Sales of non-wholly-owned nonregulated solar facilities |
- |
- |
23 |
212 |
235 |
||
Merger litigation and integration charges |
71 |
48 |
8 |
(28) |
99 |
||
Workplace realignment |
71 |
- |
17 |
(11) |
77 |
||
Storm damage and restoration costs |
51 |
17 |
- |
- |
68 |
||
Kewaunee decommissioning revision |
- |
44 |
- |
- |
44 |
||
Other |
2 |
20 |
2 |
- |
24 |
||
$ (152) |
$ 474 |
$ 413 |
$ (761) |
$ (26) |
|||
Income tax expense (benefit): |
|||||||
Tax effect of above adjustments to reported earnings * |
37 |
(131) |
(140) |
204 |
(30) |
||
Other |
- |
- |
(9) |
(32) |
(41) |
||
$ 37 |
$ (131) |
$ (149) |
$ 172 |
$ (71) |
|||
* Income taxes for individual pre-tax items include current and deferred taxes using a transactional effective tax rate. For interim reporting purposes, |
|||||||
such amounts may be adjusted in connection with the calculation of the Company's year-to-date income tax provision based on its estimated |
|||||||
annual effective tax rate. |
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2) The calculation of operating earnings per share excludes the impact, if any, of fair value adjustments related to the Company's convertible preferred |
|||||||
securities entered in June 2019. Such fair value adjustments, if any, are required for the calculation of diluted reported earnings per share. No |
|||||||
adjustments were necessary for the three months ended March 31, June 30 or September 30 or for the three and twelve months ended December 31. |
|||||||
During each quarter of 2021, the calculation of reported and operating earnings per share includes the impact of preferred dividends of $7 million |
|||||||
associated with the Series A preferred stock equity units and $9 million associated with the Series B preferred stock equity units. In addition, the |
|||||||
fourth quarter of 2021 includes $3 million of preferred dividends associated with the Series C preferred stock issued in December 2021. |
|||||||
See Forms 10-Q and 10-K for additional information. |
|||||||
3) YTD EPS may not equal sum of quarters due to share count difference and fair value adjustment associated with the convertible preferred |
|||||||
securities. |
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Schedule 4 - Reconciliation of 1Q22 Earnings to 1Q21 |
|||
Preliminary, Unaudited |
Three Months Ended |
||
(millions, except EPS) |
March 31, |
||
2022 vs. 2021 |
|||
Increase / (Decrease) |
|||
Reconciling Items |
Amount |
EPS |
|
Change in reported earnings (GAAP) |
$ (297) |
$ (0.40) |
|
Change in Pre-tax loss (income) 1 |
407 |
||
Change in Income tax 1 |
(3) |
||
Adjustments to reported earnings |
$ 404 |
$ 0.49 |
|
Change in consolidated operating earnings |
$ 107 |
$ 0.09 |
|
Dominion Energy Virginia |
|||
Regulated electric sales: |
|||
Weather |
$ 14 |
$ 0.02 |
|
Other |
(9) |
(0.01) |
|
Rider equity return |
16 |
0.02 |
|
Electric capacity |
(8) |
(0.01) |
|
Planned outage costs |
(7) |
(0.01) |
|
Depreciation & amortization |
7 |
0.01 |
|
Renewable energy investment tax credits |
61 |
0.08 |
|
Other |
10 |
0.01 |
|
Share dilution |
- |
(0.01) |
|
Change in contribution to operating earnings |
$ 84 |
$ 0.10 |
|
Gas Distribution |
|||
Regulated gas sales: |
|||
Weather |
$ 2 |
- |
|
Other |
34 |
0.04 |
|
Rider equity return |
8 |
0.01 |
|
Interest expense, net |
1 |
- |
|
Other |
(2) |
- |
|
Share dilution |
- |
||
Change in contribution to operating earnings |
$ 43 |
$ 0.05 |
|
Dominion Energy South Carolina |
|||
Regulated electric sales: |
|||
Weather |
$ 1 |
- |
|
Other |
15 |
0.02 |
|
Regulated gas sales |
3 |
- |
|
Other |
(12) |
(0.02) |
|
Share dilution |
- |
||
Change in contribution to operating earnings |
$ 7 |
$ - |
|
Contracted Assets |
|||
Margin |
$ (24) |
$ (0.03) |
|
Planned outage costs |
(4) |
- |
|
Renewable energy investment tax credits |
(29) |
(0.04) |
|
Other |
8 |
0.02 |
|
Share dilution |
- |
||
Change in contribution to operating earnings |
$ (49) |
$ (0.05) |
|
Corporate and Other |
|||
Other |
$ 22 |
$ 0.02 |
|
Share dilution |
- |
(0.03) |
|
Change in contribution to operating earnings |
$ 22 |
$ (0.01) |
|
Change in consolidated operating earnings |
$ 107 |
$ 0.09 |
|
Change in adjustments included in reported earnings1 |
$ (404) |
$ (0.49) |
|
Change in consolidated reported earnings |
$ (297) |
$ (0.40) |
|
1) |
Adjustments to reported earnings are included in Corporate and Other segment reported GAAP earnings. |
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Refer to Schedules 2 and 3 for details, or find "GAAP Reconciliation" in the Earnings Release Kit on Dominion Energy's |
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website at investors.dominionenergy.com. |
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Note: Figures may not sum due to rounding |
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