Dominion Energy said GAAP net income for Q4 2023 was $273 million ($0.30 per share), compared with $344 million ($0.39 per share) a year earlier. GAAP net income for the 12 months was $2.0 billion ($2.29 per share), versus $1.3 billion ($1.49 per share) in 2022.

1. 01

   Dominion Energy said GAAP net income for Q4 2023 was $273 million ($0.30 per share), compared with $344 million ($0.39 per share) a year earlier. GAAP net income for the 12 months was $2.0 billion ($2.29 per share), versus $1.3 billion ($1.49 per share) in 2022.

2. 02

   The company said operating earnings (non-GAAP) for Q4 2023 were $267 million ($0.29 per share), compared with $652 million ($0.76 per share) a year earlier. Operating earnings for the 12 months were $1.7 billion ($1.99 per share), versus $2.6 billion ($3.06 per share) in 2022.

3. 03

   The company said the pre-tax net income of adjustments included in 2023 reported earnings but excluded from operating earnings over the 12 months was $1.7 billion. It attributed the amount mainly to net income from discontinued operations of $1.1 billion and a net market benefit of $1.2 billion.

4. 04

   The company agreed to sell a 50% noncontrolling interest in the Coastal Virginia Offshore Wind commercial project (CVOW) to Stonepeak. It said it will retain full operational control of CVOW's construction and operations, and that the transaction is expected to close by the end of 2024.

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Original filing

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