Dominion Energy, Inc.

Welcome to the Dominion Energy second quarter, 2025 earnings conference call. At this time, each of your lines is in a listen only mode. At the conclusion of today's presentation, we will open the floor for questions. Instructions will be given for the procedure to follow if you would like to ask a question. I would now like to turn the call over to David McFarland, Vice President of Investor Relations and Treasurer.

Good morning and thank you for joining Dominion Energy second quarter 2025 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 10K and our quarterly reports on form 10Q for a discussion of factors that may cause results to differ from management estimates and expectations. This morning, we will discuss some measures of our company's performance that differ from those recognized by gap. Reconciliation of our non-gap measures to those most directly comparable gap 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 other members of the senior management. I will now turn the call over to Steven.

Thank you, David and good morning, everyone. Since the conclusion of the business review last year, we've focused on three principal priorities. First, consistent achievement of our financial commitments. Second, continued on time achievement of major construction milestones for the coastal Virginia offshore wind project. And third, constructive achievement of regulatory outcomes that demonstrate our ability to work cooperatively with regulators and stakeholders to deliver results that benefit both customers and shareholders. As we successfully execute against these priorities, we both empower our employees to provide the reliable, affordable and increasingly clean energy that powers our customers every day. And we position ourselves to deliver on the commitments we made to our investors at the conclusion of the business review. We believe that consistent execution against these commitments will deliver compelling value for our shareholders. We had another strong quarter of execution across each of these priorities. I'll begin with our financial results and then Bob will address CVAL and regulatory progress. As shown on slide three, second quarter operating earnings were 75 cents per share, which includes two cents of R&G 45Z credits and one cent of better than normal weather. Relative to second quarter 2024, positive factors for the quarter included seven cents from regulated investment growth, seven cents from increased sales and five cents from our DESC rate case settlement in 2024. Second quarter results also included a seven cent impact from the regular cadence refueling outage at Millstone Unit 3. Second quarter gap results were 88 cents per share. A summary of all adjustments between operating and gap results is included in schedule two of the earnings release kit and a summary of all drivers for earnings relative to the prior year period is included in schedule four of the earnings release kit. We're reaffirming existing financial guidance, including 2025 operating earnings per share of between $3.28 and $3.52 inclusive of R&G 45Z income with a midpoint of $3.40. Turning to financing on slide four, as highlighted on our last call, we've completed our 2025 ATM equity and we've taken steps this quarter to also de-risk our 2026 ATM program. We view this level of steady equity issuance under existing programs in the context of our sizeable growth capital spending program as appropriate to keep our consolidated credit metrics within the guidelines for our strong credit ratings category. We remain very focused on balance sheet conservatism and there is no change to our previously communicated credit related targets. Turning briefly to sales, we're continuing to see strong sales in our service areas driven by continued data center expansion and economic growth. Notably, nine of our top 10 all time peak days in Virginia have occurred this year, including six in the last six weeks and our all time peak in South Carolina was set just a few days ago. With regard to data center activity, we will refresh our standard detailed disclosures later this year, which will highlight our growing contract backlog. But in the meantime, I'll just say that data center interest is as robust as we have ever seen it. We look forward to continuing to meet this demand as we always have in a timely and responsive way that allows us to reliably and affordably serve all of our customers. In conclusion, I'll reiterate that I'm highly confident in our ability to deliver on our financial plan, including our 2025 operating EPS and credit targets. We've built our financial plan to be appropriately, but also not unreasonably conservative to whether unforeseen challenges that may come our way. With that, I'll turn the call over to Bob. Thank you, Stephen.