Sector: Utilities|Industry: Utilities - Regulated Electric|Market Cap: $44.21B|Employees: 17.7K
Dominion Energy is one of the largest energy producers and distributors in the U.S., committed to providing reliable, affordable, and clean energy. The company's core business model focuses on regulated electric utilities and long-term contracted electric generation. Dominion Energy operates in 15 states, serving approximately 7 million customers, with a significant presence in the eastern region of the U.S.
Operating revenue decreased to $3.632 billion in Q1 2024 from $3.883 billion in Q1 2023, primarily due to market price fluctuations impacting Millstone and a decrease in fuel-related revenue.
Net income attributable to Dominion Energy was $674 million in Q1 2024, down from $981 million in Q1 2023, primarily due to the closing of the East Ohio Transaction and increased unrealized losses on economic hedging activities.
Diluted earnings per share decreased to $0.78 in Q1 2024 from $1.15 in Q1 2023, reflecting the decrease in net income attributable to Dominion Energy.