Dominion Energy posts higher Q2 operating earnings | D Message Board Posts

Dominion Resources Inc.

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Msg  296 of 298  at  8/5/2020 5:14:28 PM  by


Dominion Energy posts higher Q2 operating earnings

 from SNL Energy Finance Daily

Dominion Energy posts higher Q2 operating earnings

Byline: Nephele Kirong

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.


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