2/12/2025

speaker
Operator
Conference Operator

I would now like to turn the call over to David McFarland, Vice President, Investor Relations, and Treasurer.

speaker
David McFarland
Vice President, Investor Relations, and Treasurer

Good morning, and thank you for joining Dominion Energy's fourth quarter 2024 earnings call. Earnings materials, including today's prepared remarks, contain forward-looking statements and estimates that are subject to various risks and uncertainties. Please refer to our SEC filings, including our most recent annual report, on Form 10-K and our quarterly reports on Form 10-Q for a discussion of factors that may cause results to differ from management's estimates and expectations. This morning, we will discuss some measures of our company's performance that differ from those recognized by GAAP. Reconciliation of our non-GAAP measures to the most directly comparable GAAP financial measures, which we can calculate, are contained in the earnings release kit. I encourage you to visit our investor relations website to review webcast slides as well as the earnings release kit. Joining today's call are Bob Blue, Chair, President, and Chief Executive Officer, Steven Ridge, Executive Vice President and Chief Financial Officer, and Diane Leopold, Executive Vice President and Chief Operating Officer. I will now turn the call over to Bob.

speaker
Bob Blue
Chair, President, and Chief Executive Officer

Thanks, David. Good morning. Almost a year ago, we concluded the Comprehensive Business Review and described five key tenets upon which the repositioned Dominion Energy would be premised, strategic simplicity, consistent long-term financial execution, balance sheet conservatism, dividend security, and the delivery of an exceptional customer experience that would enable us to advocate for and achieve balanced policy constructs and reasonable regulatory outcomes. You heard from me and directly from members of the board that we would collectively be accountable for the company's future performance. Finally, we committed to being 100% focused on successfully executing against our updated plan. Now, a year on, none of that has changed. Those commitments are as equally fundamental to our company today as they were 12 months ago. We know that to rebuild your trust, we must deliver consistently over the long run. While we're still relatively early in this new chapter of our company, we're off to a positive start. Looking back at 2024, we accomplished. Operating earnings per share in the top half of our guidance range, despite weather headwinds. A remarkable storm restoration effort in South Carolina in the aftermath of Hurricane Helene, one of the region's most destructive storms ever. Regulatory outcomes in South Carolina and North Carolina base rate cases, as well as a number of Virginia rider cases that demonstrate our ability to work cooperatively with regulators and stakeholders to deliver results that benefit both customers and shareholders. And significant de-risking of the Coastal Virginia Offshore Wind Project through both the continued on-time achievement of major milestones, as well as the closing of a 50% non-controlling equity financing through which we've materially reduced project risk for our shareholders. I'll share more perspectives on CEVAL a little later in our prepared remarks. We did all of this while achieving a near record-setting employee safety performance. and advancing our all-of-the-above strategy to reliably and affordably meet our customers' rapidly expanding energy demand, which includes the largest data center cluster in the world. Let me now turn it over to Stephen to provide a financial update before I walk through additional updates on the execution of our plan.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

Q4D 2024

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Investor presentation