Dominion Energy's Q2 Earnings Surprise Offsets Revenue Miss: Details

Dominion Energy Inc D shares are trading higher after the company reported second-quarter FY24 revenue of $3.486 billion, missing the consensus of $3.729 billion. 

Operating expenses rose to $2.68 billion from $2.57 billion a year ago.

Adjusted operating earnings rose to $563 million from $310 million in the same period in 2023. Adjusted EPS was $0.65, up from $0.35 a year ago, beating the consensus of $0.56.

As of June-end, the company had cash and cash equivalents of $139 million.

Outlook: The company reaffirmed FY24 operating EPS of $2.62 – $2.87 vs. consensus of $2.79.

The company also maintained FY25 operating EPS of $3.25 – $3.54 vs. consensus of $3.39.

The company also reaffirmed all financial guidance provided at its March 1 investor meeting, including guidance related to earnings, credit, and dividends.

Investors can gain exposure to the stock via BNY Mellon ETF Trust BNY Mellon Global Infrastructure Income ETF BKGI and WBI Power Factor High Dividend ETF WBIY.

Price Action: Dominion Energy shares are up 2.21% at $54.64 at the last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.