DOMINION ENERGY, INC Earnings Per Share Disclosure
Note 8. Earnings Per Share
The following table presents the calculation of Dominion Energy’s basic and diluted EPS:
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
(millions, except EPS) |
|
|
|
|
|
|
|
|
|||
Net income attributable to Dominion Energy from continuing operations |
$ |
3,012 |
|
|
$ |
1,837 |
|
|
$ |
2,087 |
|
Preferred stock dividends (See Note 19) |
|
(44 |
) |
|
|
(68 |
) |
|
|
(81 |
) |
Preferred stock deemed dividends (See Note 19) |
|
— |
|
|
|
(10 |
) |
|
|
— |
|
Net income attributable to Dominion Energy from continuing operations - Basic & Diluted |
|
2,968 |
|
|
|
1,759 |
|
|
|
2,006 |
|
Net income (loss) attributable to Dominion Energy from discontinued operations - Basic & |
$ |
(14 |
) |
|
$ |
197 |
|
|
$ |
(125 |
) |
Average shares of common stock outstanding – Basic |
|
854.1 |
|
|
|
839.2 |
|
|
|
836.4 |
|
Net effect of dilutive securities(1) |
|
1.2 |
|
|
|
0.2 |
|
|
|
0.1 |
|
Average shares of common stock outstanding – Diluted |
|
855.3 |
|
|
|
839.4 |
|
|
|
836.5 |
|
EPS from continuing operations - Basic |
$ |
3.48 |
|
|
$ |
2.09 |
|
|
$ |
2.40 |
|
EPS from discontinued operations - Basic |
|
(0.02 |
) |
|
|
0.24 |
|
|
|
(0.15 |
) |
EPS attributable to Dominion Energy - Basic |
$ |
3.46 |
|
|
$ |
2.33 |
|
|
$ |
2.25 |
|
EPS from continuing operations - Diluted |
$ |
3.47 |
|
|
$ |
2.09 |
|
|
$ |
2.40 |
|
EPS from discontinued operations - Diluted |
|
(0.02 |
) |
|
|
0.24 |
|
|
|
(0.15 |
) |
EPS attributable to Dominion Energy - Diluted |
$ |
3.45 |
|
|
$ |
2.33 |
|
|
$ |
2.25 |
|
Certain of the forward sales agreements entered into in 2025 and 2024 were potentially dilutive securities but were excluded from the calculation of diluted EPS from continuing operations for the year ended December 31, 2025 and 2024 as the dilutive stock price threshold was not met. See Note 19 for additional information.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 23, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 21, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 26, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.