RICHMOND - Dominion Energy (NYSE: D) today announced an unaudited net income determined in accordance with Generally Accepted Accounting Principles for the three months ended Sept. 30, 2021, of $654 million ($0.79 per share) compared with a net income of $356 million ($0.41 per share) for the same period in 2020.
Operating earnings for the three months ended Sept. 30, 2021, were $918 million ($1.11 per share), compared to operating earnings of $916 million ($1.08 per share) for the same period in 2020.
GAAP earnings for the three months ended Sept. 30, 2021, relative to operating earnings reflect the mark-to-market impact of economic hedging activities, regulated asset retirements and other charges, the contribution from Questar Pipelines, which has been 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.
Guidance
Fourth-quarter 2021 operating earnings are expected to be in the range of $0.85 to $0.95 per share.
The company has narrowed its full-year 2021 operating earnings guidance range to $3.80 to $3.90 per share. Assuming normal weather for the remainder of the year, the company expects operating earnings per share for 2021 to be above the midpoint of this narrowed guidance range. The company also affirmed its long-term earnings and dividend growth guidance.
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.
This release contains certain forward-looking statements, including forecasted operating earnings fourth-quarter and full-year 2021 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 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 compliance; 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 sale of Dominion Energy Questar Pipeline and the sale of Kewaunee, 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. 
