Dominion Energy, Inc. (NYSE:D) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

David McFarland - Vice President of Investor Relations and Treasurer
Robert Blue - Chair, President and Chief Executive Officer
Steven Ridge - Executive Vice President and Chief Financial Officer
Diane Leopold - Executive Vice President and Chief Operating Officer

Conference Call Participants

Constantine Lednev - Guggenheim Partners
Nicholas Campanella - Barclays
Jeremy Tonet - JPMorgan

Operator

Welcome to the Dominion Energy Second Quarter 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. [Operator Instructions].

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

David McFarland

Good morning, and thank you for joining today's 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 reports 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 Steven.

Steven Ridge

Thank you, David, and good morning, everyone. I'll start with quarterly results on Slide 3. Second quarter operating earnings were $0.65 per share, which included $0.03 of help from better than normal weather in our utility service areas, whether normal operating EPS was $0.62. Relative to Q2 last year, positive factors for the quarter included $0.11 from improved weather, $0.10 from regulated investment growth and $0.17 related to Millstone, including $0.13 from the absence of extended duration outages and $0.04 due to higher realized power prices. Recall that during the second quarter last year, we experienced both planned and unplanned outages at Millstone.