Dominion Energy Inc. on July 31 announced second-quarter operating earnings of $706 million, or 82 cents per share, compared with $619 million, or 77 cents per share, in the year-ago quarter.
The S&P Capital IQ consensus normalized EPS estimate for the quarter was 77 cents.
The company said its second-quarter operating results were negatively impacted by 3 cents per share due to worse than normal weather in utility service territories.
On a GAAP basis, Dominion Energy reported a second-quarter net loss of $1.17 billion, or $1.41 per share, down from earnings of $54 million, or 5 cents per share, in the comparable 2019 period.
The difference between the operating and GAAP earnings for the quarter was primarily attributable to impairment-related charges associated with the Atlantic Coast and Supply Header natural gas pipeline projects, as well as net gains on nuclear decommissioning trust funds, the company said.
Operating revenue totaled $3.59 billion in the most recent quarter, down from $3.97 billion a year ago. Income from operations improved year over year to $540 million from $461 million.
Dominion Energy expects third-quarter operating earnings in the range of 85 cents per share to $1.05 per share. It also affirmed its full-year 2020 operating earnings guidance in the range of $3.37 per share to $3.63 per share.