Dominion Energy Reports Strong Q3 Earnings with Offshore Wind Advances
Richmond, Monday, 3 November 2025.
Dominion Energy’s Q3 2025 earnings show a net income of $1 billion, with significant progress in its Coastal Virginia Offshore Wind project, reflecting a shift towards renewable energy.
Earnings Overview and Financial Performance
Dominion Energy, Inc. (NYSE: D) has reported a strong financial performance for the third quarter of 2025, with a net income of $1 billion, equivalent to $1.16 per share according to GAAP standards. This marks an increase compared to the same period in 2024, where net income was $934 million or $1.09 per share. Operating earnings, which exclude certain non-recurring gains, reached $921 million or $1.06 per share, up from $836 million or $0.98 per share in Q3 2024 [1][2].
Coastal Virginia Offshore Wind Project Progress
The Coastal Virginia Offshore Wind (CVOW) project remains a focal point for Dominion Energy as it progresses towards its completion. As of this report, the project is approximately 66% complete. Dominion anticipates the first power generation by late Q1 2026, with full project completion expected by the end of 2026. This project represents a significant shift towards renewable energy sources, aligning with global trends in the energy sector [3][4].
Growth in Data Center Business
In addition to renewable energy initiatives, Dominion Energy has seen substantial growth in its data center business. The company reports a robust demand for data center services, with 47 gigawatts in various contracting stages and 10 gigawatts under electric service agreements. This expansion is expected to support strong sales growth moving forward [5][6].
Market Outlook and Future Prospects
Looking ahead, Dominion Energy has narrowed its full-year operating earnings guidance to a range of $3.33 to $3.48 per share, maintaining a midpoint of $3.40 per share. The company projects a 5% to 7% growth in operating earnings per share through 2029, excluding certain income streams. This strategic guidance reflects Dominion’s commitment to maintaining financial stability while investing in sustainable energy projects [2][5].