Dominion Energy Inc. D is scheduled to release second-quarter 2022 earnings on Aug 8, before market open. In the last four reported quarters, the utility recorded a positive surprise of 0.65%, on average.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Dominion Energy’s second-quarter earnings are likely to have benefited from regulated investment, and improving sales from commercial and industrial customer groups. Dynamic cost-control initiatives undertaken are likely to have boosted the second-quarter performance.
The planned maintenance outage of Millstone Power Station is likely to have lowered earnings by six to seven cents in the second quarter.
Dominion Energy expects earnings of 70-80 cents per share for the second quarter. The Zacks Consensus Estimate for the same is pegged at 77, indicating growth of 1.3% from the year-ago reported figure.
Quantitative Model Predicts
Our proven model predicts an earnings beat for Dominion Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here, as you will see below.
Dominion Energy Inc. Price and EPS Surprise
Dominion Energy Inc. price-eps-surprise | Dominion Energy Inc. Quote
Earnings ESP: The company’s Earnings ESP is +1.63%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, it carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Other Utility Releases
Here we present details of a few other utilities that have already surpassed the Zacks Consensus Estimate in second-quarter 2022 and are expected to continue with a strong performance in the second half of 2022.
NextEra Energy, Inc. NEE reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%.
The Zacks Consensus Estimate for NextEra Energy’s 2022 earnings has gone up 2.1% in the past 60 days. NEE’s long-term (three to five years) earnings growth is pegged at 9.3%.
WEC Energy Group WEC delivered second-quarter 2022 earnings per share of 91 cents, which beat the Zacks Consensus Estimate of 86 cents by 5.8%.
The Zacks Consensus Estimate for WEC Energy’s 2022 earnings has gone up 0.3% in the past 60 days. WEC’s long-term earnings growth is pegged at 6.1%.
American Electric Power Company, Inc. AEP reported second-quarter 2022 operating earnings per share of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%.
The Zacks Consensus Estimate for American Electric Power’s 2022 earnings has gone up 0.6% in the past 60 days. AEP’s long-term earnings growth is pegged at 6.2%.
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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
American Electric Power Company, Inc. (AEP) : Free Stock Analysis Report
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Dominion Energy Inc. (D) : Free Stock Analysis Report
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