Dominion Energy, Inc. · NYSE:D
Dominion Energy — Q2 2019 Earnings Presentation
17 slides from Dominion Energy's earnings presentation, Jul 31, 2019
Slide 1: Q2 2019 earnings call
Q2 2019 earnings call July 31, 2019
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
Slide 3: Operating earnings per share
Operating earnings per share Actual versus guidance ($ per share) Second quarter 2019 $0.80 $0.77 $0.75 Favorable weather impact $0.70 on utility earnings: $0.02 Actual¹ Weather-normalized¹ Guidance¹ ¹ See pages 23, 28 and 31 of the second quarter 2019 Earnings Release Kit for supporting information
Slide 4: Operating EBIT
Operating EBIT Actual versus guidance ($M) Second quarter 2019 Operating Guidance range segment (midpoint) Actual¹ / Select driver(s) $260M—$290M Power Delivery $275M ($275M) $360M—$400M O&M Power Generation $408M ($380M) Weather $405M—$435M Gas Infrastructure $418M ($420M) $155M—$180M Weather South
Slide 5: Reporting segment restructuring
Reporting segment restructuring Enhanced clarity and transparency Dominion Energy Dominion Energy Dominion Energy Dominion Energy Dominion Energy Gas Transmission Contracted Virginia Gas Distribution South Carolina & Storage Generation NY CT UT CT OH VA PA States of WY OH MD ID WV SC CA IN WV WY VA
Slide 6: Initiative updates
Initiative updates Summary Incremental to existing “Flat O&M” initiative, not additive to existing earnings guidance Savings available to overcome potential unexpected challenges; de-risks growth plan Voluntary ~12% of total workforce elected to participate Retirement Up to one third of vaca
Slide 7: Operating earnings per share
Operating earnings per share Prior year actual versus guidance ($ per share) Third quarter Select second half 2019 drivers $1.20 Relative to 2H 2018 $1.15 Driver (operating EPS) $1.12 Millstone refueling $0.08—$0.10 3Q18 $1.00 Net capacity expense $0.06—$0.08 Guidance: $0.95—$1.15 Southeast Energy G
Slide 8: Core values
Core values Embrace One Dominion Safety Ethics Excellence Energy Change (Teamwork) Our highest Striving for Changing the Sustainable priority is keeping Doing right and excellence in way we think performance our employees doing well are everything we about the today depends on how and communities in
Slide 9: Business updates: Top states for business
Business updates Top states for business Top Ten States for Primary state regulated utility operations Business (2019)¹ Virginia #1 North #3 Carolina Regulated utility Utah #4 operations centered around 5 key states ~65—70% 2020E operating earnings Ohio #10 ¹ CNBC America’s Top States for Business i
Slide 10: Business updates: Industry leading ESG
Business updates Industry leading ESG Emissions targets Enhanced focus Creation of new Board-level Sustainability 55% 80% and Corporate Responsibility Committee Enhanced engagement with top reduction in reduction in shareholders carbon carbon Only utility with a ESG-focused investor emissions
Slide 11: Select zero-carbon generation projects
Business updates Select zero-carbon generation projects Offshore Wind Pumped Hydro Battery Storage Nuclear SLR Please refer to page 2 for risks and uncertainties related to projections and forward looking statements. 11
Slide 12: Dominion Energy Virginia growth investments improve reliability
Business updates Dominion Energy Virginia growth investments improve reliability Electric transmission rate base—$B Data center capacity —MWs connected $4.3B $1.7B Expect 20+ new data 2019—2023 2019—2023 center connects, greater growth capital growth capital¹ than 750MW in 2019 $5.4 1,612 $2.9 95 20
Slide 13: Atlantic Coast Pipeline and Supply Header
Business updates Atlantic Coast Pipeline and Supply Header Briefs submitted Court order Reissuance Recommence to 4th Circuit at least partial construction Biological opinion Spring July 26 2H 2019 By end of year ACP and Solicitor SCOTUS grants Oral Expected Recommence General appeal Cert. arguments
Slide 14: Summary
Summary On-track to achieve safety results that are consistent with the record-setting performance of recent years Engaged on initiatives that focus on creating shareholder, customer, and other stakeholder value Second quarter operating EPS above guidance midpoint: weather-normalized at midpoi
Slide 15: Appendix
Appendix Please refer to page 2 for risks and uncertainties related to projections and forward looking statements. 15
Slide 16: Atlantic Coast Pipeline & Supply Header
Appendix Atlantic Coast Pipeline & Supply Header Reflects judicial option to remedy Appalachian Trail crossing Assumed Permit/authorization Agency Current status resolution (timing) U.S. Fish & Wildlife Service Vacated Reissuance Biological Opinion (USFWS) (July 2019) (2H 2019) U.S. Army Corps of En
Slide 17: 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: