Dominion Energy, Inc. · NYSE:D

Dominion Energy — Q1 2019 Earnings Presentation

14 slides from Dominion Energy's earnings presentation, May 3, 2019

  1. Slide 1: Q1 2019 earnings call

    Q1 2019 earnings call May 3, 2019

  2. Slide 2: Important note to investors

    Important note to investors This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding Dominion Energy. The statements relate to, among other things, expectations, estimates and projections concerning the busines

  3. Slide 3: Operating earnings per share

    Operating earnings per share Actual versus guidance ($ per share) First quarter 2019 $1.25 $1.16 $1.10 Milder than normal $1.05 weather impact on utility earnings: ($0.06) Actual¹ Weather-normalized¹ Guidance¹ ¹ See pages 23, 28 and 31 of the first quarter 2019 Earnings Release Kit for supporting in

  4. Slide 4: Operating EBIT

    Operating EBIT Actual versus guidance ($M) First quarter 2019 Operating Guidance range segment (midpoint) Actual¹ / Major driver(s) $245M—$290M Weather Power Delivery $271M ($268M) Opex/other $465M—$525M Weather Power Generation $489M ($495M) Opex/other $555M—$605M Gas Infrastructure $575M ($580M) $

  5. Slide 5: Adjustments to reported earnings

    Adjustments to reported earnings Pre-tax drivers First quarter 2019 In-line with merger approval $0.5B expectations ~$1.6B $1.4B ($0.3B) Other Reg. write-offs Legal Period expense treatment under GTSA— Customer Retirement of generating refund units and automated meters SCANA merger Power Generation

  6. Slide 6: March investor day

    March 25 investor day Key messages  Record safety performance  Premium assets in premium locations  ~95% regulated + “like” operating earnings  Increased accessibility via updated reporting segments  ~7% five-year rate base growth driven by diverse set of regulated capital programs  Expense co

  7. Slide 7: Operating earnings per share

    Operating earnings per share Actual versus guidance ($ per share) Second quarter Full-year $4.40 $0.86 $0.80 $4.05 $4.05  Regulated investment $0.70  Southeast Energy Group  Full-year run-rate Cove  Regulated investment  Expense control initiatives  Southeast Energy Group  2018 asset sales 

  8. Slide 8: Business updates: Strong state regulated utility fundamentals

    Business updates Strong state regulated utility fundamentals State Highlights  10 data center connects (company record) Virginia  8,200+ total customer connects (highest Q1 since 2012)  1.2% weather-normalized sales growth  1.7% electric customer growth (highest since 2008) South  3.1% gas cust

  9. Slide 9: Business updates: Significant achievements

    Business updates Significant achievements Solar Offshore wind Millstone (investor day) (investor day)  Hosted CT Governor Lamont $2.4B  US-3 rider $1.1B  Construction at plant to celebrate 10-year approved by SCC on 12MW/ agreement signed Mar 15 2019—2023 2019—2023 growth capital on Apr 15 growth

  10. Slide 10: Business updates: Emissions reduction targets

    Business updates Emissions reduction targets Intensity targets announced in Dec. 2018 Supplemental Mar. 2019 emissions targets 60% 55% 80% reduction in reduction in reduction in carbon intensity by carbon carbon 2030 (vs. 2000) emissions by emissions by 2030 (vs. 2005) 2050 (vs. 2005) 50% 50% reduct

  11. Slide 11: Business updates: Atlantic Coast Pipeline and Supply Header

    Business updates Atlantic Coast Pipeline and Supply Header USFWS & ACP Recommence briefs submitted Oral arguments Expected order at least partial to 4th Circuit construction Biological opinion ~90 days  May 9 after oral arguments By end of Q3 File appeal to the U.S. Supreme SCOTUS agrees to Argumen

  12. Slide 12: Summary

    Summary  Weather-normalized first quarter operating EPS above guidance midpoint  Affirming full-year 2019 operating EPS guidance of $4.05—$4.40  Strong state regulated utility fundamentals  Progress across capital investment programs to benefit of customers  Strong ESG message and continued eng

  13. Slide 13: Appendix

    Appendix Please refer to page 2 for risks and uncertainties related to projections and forward looking statements. 13

  14. Slide 14: Highlighted ESG statistics

    Appendix Highlighted ESG statistics 2018 reporting year, unless noted¹  Safety: 0.55 OSHA recordable incident rate  Carbon emissions intensity: 0.275 metric tons/MWh  Fresh water withdrawals (consumptive): 0.0000001 billion liters/MWh  Methane emissions: 63,620 metric tons²  Supplier diversity:

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