Key Highlights

● Dominion, Exelon and Alliant beat estimates on Friday, October 30, 2026.

● Dominion's operating EPS was $1.28 against $1.06 expected.

● Alliant's EPS was $1.52 against $1.09 expected.

● Exelon narrowed 2026 guidance to $2.85 to $2.91.

Utility Earnings gave investors a reason to buy on Friday, October 30, 2026. Dominion Energy (NYSE:D), Exelon (NASDAQ:EXC) and Alliant Energy (NASDAQ:LNT) each reported third-quarter results that beat expectations, and all three stocks rose as the Utility sector finished higher on a day of heavy selling elsewhere.

The broader market had its worst day since June. The S&P 500 fell 140.32 points to 7,580.07, the Dow Jones Industrial Average dropped 572.25 points to 51,770.31 and the Nasdaq Composite lost 747.73 points to 25,437.00. Six of the 11 sectors rose, with utilities among them.

The results

Dominion Energy, the Richmond, Virginia-based utility that trades on the New York Stock Exchange as D, posted third-quarter operating earnings of $1.28 a share, well above the $1.06 estimate, according to market data. The company said it expects full-year results in the top half of its range of $3.45 to $3.69 a share. Its shares rose on the day, in line with the broader utility group.

Dominion serves customers in Virginia and the Carolinas, and its territory includes one of the largest concentrations of data centers in the United States.

Exelon, the Chicago-based utility Holding Company that trades on the Nasdaq as EXC, reported adjusted third-quarter earnings of $0.87 a share, above expectations. It narrowed its 2026 guidance to $2.85 to $2.91 a share. The stock gained modestly.

Alliant Energy, the Wisconsin-based utility that trades on the Nasdaq as LNT, reported third-quarter earnings of $1.52 a share against the $1.09 expected. It set 2027 guidance of $3.63 to $3.73 a share and raised its Capital spending plan to $15.9 billion, citing 3.4 gigawatts of data-center demand. The shares also rose.

Why utilities rallied

The results arrived as investors rotated out of AI, chip and megacap technology stocks. Intel (NASDAQ:INTC) warned of cash burn this year and had its biggest one-day drop on record, and Amazon (NASDAQ:AMZN) reported trailing 12-month free Cash Flow of negative $42.4 billion. A senior market analyst said: "The message from investors is becoming clearer: strong AI Demand is no longer enough on its own."

Utilities, which sell electricity and gas under regulated rates, offer steadier earnings than most sectors. Their link to data-center growth also gives investors a way to benefit from AI spending without owning the companies doing the spending. Alliant's raised capital plan shows that link in action.

Bond yields helped too. Treasury yields fell on Friday, with the 10-year yield declining. Utilities' dividends compete with bonds for income-seeking investors, so falling yields tend to support the sector.

A strong October

Friday's gains capped a strong month. Utilities, health care and consumer staples each posted strong gains for October, according to market data, and energy led all sectors as oil climbed above $100 a barrel. Technology and communication services were the only two sectors to fall during the month.

What to watch

Interest rates are the biggest risk for utilities. The Federal Reserve held rates steady on October 28, but futures markets are pricing in a December hike, and three Fed officials said Friday that rates need to go higher. The October jobs report on Friday, November 6, will shape those expectations. The midterm elections on Tuesday, November 3, including state and local races watched for data-center implications, could also affect the outlook for power demand.