Dominion Energy Beats Q4 Estimates, Raises Capex to $64.7B for Data Center Expansion
Dominion Energy posted Q4 operating earnings of $0.68/share, beating the $0.67 estimate, on revenue of $4.093B, up 20.4% year-over-year. It lifted its five-year capital plan by 30% to $64.7B and secured 48.5GW of data-center capacity, backing 5–7% annual EPS growth through 2030.
1. Q4 Financial Results
Dominion Energy delivered Q4 2025 operating earnings of $0.68 per share, surpassing the $0.67 consensus, driven by $4.093 billion in operating revenue, a 20.4% increase year-over-year. Virginia segment earnings rose to $536 million from $440 million, South Carolina to $106 million from $102 million, and Contracted Energy to $117 million from $54 million.
2. Data Center Capacity Contracts
As of December 2025, Dominion secured nearly 48.5GW of contracted data-center capacity, anchored by deals with major tech clients including Alphabet, Amazon, Microsoft and Meta. This scale positions the company to capture long-term demand from hyperscale operators and strengthen its earnings trajectory.
3. Expanded Capital Plan and Growth Outlook
The company raised its 2026–2030 capital plan to $64.7 billion, up 30% from the prior $50.1 billion target, underscoring a strategic pivot toward data-center infrastructure. It reaffirmed long-term EPS growth of 5–7% through 2030 on a $3.30 baseline and set 2026 operating earnings guidance at $3.45–$3.69 per share.