Dominion Energy Cuts 2Q23 Operating Earnings Guidance Hit By Weather And Unplanned Outages

Dominion Energy, Inc. D updated its second-quarter operating earnings guidance reflecting the estimated impact of historically mild weather and unplanned outages at the Millstone Power Station. 

The company reduced its operating earnings guidance to $0.44-$0.50 per share, from the prior view of $0.58-$0.68, versus the consensus of $0.64.

Also Read: Dominion Energy Earns 'Buy' Rating Following Robust Growth Projections

Extremely mild weather in the company's electric service territories, relative to the 15-year normal, is expected to negatively impact second-quarter operating earnings by $0.07 to $0.09 per share. 

Given the pending business review, the company did not provide FY23 earnings guidance.

Millstone Power Station Unit 3, which had an automatic reactor trip on May 30, 2023, due to a turbine trip caused by electrical protection, returned to service on June 29, 2023.

Price Action: D shares are trading higher by 0.15% at $51.90 on the last check Friday.