Dominion Energy Q1 Earnings Beats Consensus, Guides Below Consensus Q2 EPS

Dominion Energy Inc D reported first-quarter revenues for 2023 of $5.25 billion, exceeding the consensus of $4.46 billion.
Operating earnings fell 15% Y/Y to $849 million, declining across all segments.
The company reported a pre-tax net income of $206 million in Q1 (vs a loss of $255 million a year ago), with a net market benefit of $354 million related to nuclear decommissioning trusts and hedging activities.
Operating EPS of $0.99, down from $1.18 a year ago, beating the consensus of $0.97.
Operating expenses rose to $3.81 billion from $3.3 billion a year ago.
Cash flow from operating activities rose to $2.1 billion from $1.13 billion a year ago.
Cash and cash equivalent stood at $1.79 billion at the end of Q1.
Outlook: Dominion Energy expects Q2 operating EPS of $0.58 to $0.68 versus the consensus of $0.79.
Price Action: Dominion Energy shares are trading lower by 1.89% at $55.50 premarket on last check Friday.

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