Dominion Energy, Inc. reports results for the quarter ended September 30 - Earnings Summary

What happened

Dominion Energy reported quarterly adjusted earnings of $1.28 per share, above the $1.21 analysts expected and last year's $1.06, on revenue of $5.62 billion, up 24.1% and above the $4.90 billion expected.

Confirmed

Global impact / market context

Beating both profit and revenue expectations shows the utility earned more per share and collected more money than Wall Street forecast, which can support the share price. The average analyst rating remains hold, so the results may not change most analysts' views.

Analyst inference

Dominion shares had risen 7.6% this quarter and 11.1% this year before this report. Its hold rating is weaker than the buy rating for electric utility peers, and the $67.50 median price target is 3.5% above the $65.12 last closing price.

Analyst inference

What to watch

1. Watch whether Dominion's quarterly revenue growth of 24.1% to $5.62 billion continues, since revenue far exceeded the $4.90 billion analysts expected. Confirmed
2. Analysts could raise profit estimates after the $1.28 per share result beat the $1.21 expected, so watch for estimate revisions in coming weeks. Proposed
3. Watch the gap between the $67.50 median price target and the $65.12 last close, because a narrow gap suggests limited expected share price gains. Analyst inference

Evidence

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