Dominion Energy’s QQ3 2025 results show solid operating momentum underpinned by its regulated utility and contracted assets business, with an operating income of $1.339 billion and EBITDA of $1.353 billion, translating to an operating margin of approximately 29.6%. However, the bottom line collapsed into a nominal net income of $1.16 million for the quarter, driven by an outsized negative swing in other income/expenses totaling about $3.189 billion and a meaningful interest burden of $527 million. On a YoY basis, net income declined by roughly 99.9% and QoQ by about 99.85%, signaling material non-operational Headwinds rather than a deterioration in core operating performance. The quarter underscores the importance of regulatory lag, capital intensity, and the impact of non-operating charges on reported profitability. The outlook hinges on continued regulated earnings resilience, the pace of rate case approvals, and the company’s large capital program in the contracted assets and renewables space.