Dominion Energy, Inc.

Please stand by. We're about to begin. Good morning, everyone. Welcome to the Dominion Energy third 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 at that time. I would now like to turn the call over to Mr. David McFarland, Vice President, Investor Relations and Treasurer. Please go ahead, sir.

Good morning, and thank you for joining Dominion Energy's third 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 10-K and our quarterly reports on Form 10-Q, for 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 other members of 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 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 continued execution against these commitments will deliver compelling value for our shareholders. I'll address our financial results, and then Bob will address CVOW and regulatory progress. As shown on slide three, third quarter operating earnings were $1.06 per share, which includes $0.03 of RNG45Z credits and $0.06 of worse than normal weather. Relative to third quarter 2024, positive factors for the quarter included $0.06 from regulated investment growth, $0.08 from increased sales, $0.05 from our DESC rate case settlement in 2024, and $0.03 from higher margins of contracted energy. Third quarter results also included worse weather, higher DDNA, and higher financing costs. A summary of all drivers for earnings relative to the prior year period is included in Schedule 4 of the Earnings Release Kit. Third quarter gap results were $1.16 per share. A summary of all adjustments between operating and gap results is included in Schedule 2 of the Earnings Release Kit. Turning now to guidance. With nine months of 2025 financial results reported, we're narrowing our full year guidance range to $3.33 to $3.48 per share, inclusive of RNG 45Z earnings, while preserving the original guidance midpoint of $3.40. On last quarter's call, I highlighted sales and weather as noteworthy tailwinds through six months of the year. Over the last four months, we've seen weather reverse and through 10 months of the year now represents a small headwind of approximately two cents. Continued strength from commercial and residential sales combined with other initiatives gives us confidence in our ability to deliver full year results at or above the midpoint of our guidance, assuming normal weather for the last two months of the year. We've provided year over year drivers for the fourth quarter in the appendix of today's materials for your reference. Finally, we are reaffirming all other existing financial guidance. Turning to slide four, we've completed our 2025 financing plan and, as mentioned on prior calls, taken steps to further de-risk future ATM equity. We remain focused on balance sheet conservatism, and there is no change to our previously communicated credit-related targets. Finally, we'll provide a comprehensive capital investment forecast update through 2030 on our fourth quarter earnings call, which will take place in early 2026. We expect incremental opportunities to deploy regulated capital on behalf of our customers with a timing bias towards the back end of the plan. As always, we will look at incremental capital through the lenses of customer affordability, system reliability, balance sheet conservatism, and our low risk profile. In conclusion, I am highly confident in our ability to deliver on our financial plan. We've built our plan to be appropriately, but also not unreasonably conservative to weather unforeseen challenges that may occur. And with that, I'll turn the call over to Bob.