Stock Monitor: Centrais Eletricas Brasileiras Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 23, 2018 / If you want access to our free earnings report on Dominion Energy, Inc. (NYSE: D), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=D. The Company reported its first quarter fiscal 2018 operating and financial results on April 27, 2018. Dominion Energy, which is one of the largest producers and transporters of energy in the US, outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and reiterated its guidance for FY18, as well as dividend distribution. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Dominion Energy most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended March 31, 2018, Dominion Energy generated revenues of $3.47 billion, up 3% compared to $3.38 billion in Q1 2017. The Company's revenue numbers beat analysts' estimates of $3.36 billion.
Dominion Energy reported GAAP earnings of $503 million, or $0.77 per diluted share, in Q1 2018 compared to $632 million, or $1.01 per share, in Q1 2017.
Dominion Energy's operating earnings were $741 million, or $1.14 per share, in Q1 2018 compared to $611 million, or $0.97 per share, in Q1 2017, and which were ahead of Wall Street's estimates of $1.03 per share. The principal differences between reported earnings and operating earnings for the reported quarter were a charge associated with a Virginia legislation enacted in March 2018 that requires one-time rate credits to utility customers and a market loss on the Company's nuclear decommissioning trusts.
Dominion Energy's increase in operating earnings was primarily attributable to the benefits of higher merchant generation margins, farm-out transactions, normal weather in the Company's regulated service territory, and the impact of the 2017 tax reform.
During Q1 2018, Dominion Energy's Power Delivery Group posted earnings before interest, tax, depreciation, and amortization (EBITDA) of $423 million, which was in the upper half of the Company's guidance range, with the performance attributed to lower-than-expected operating expenses and better results from its electric transmission business.
During the reported quarter, the Company's Power Generation Group's EBITDA were $748 million, which exceeded the top-end of its guidance range. Higher margins at Dominion Energy's merchant generation business reflected colder weather, while an excellent unit availability was a principal positive factor. The group also had lower-than-expected operating and maintenance expenses.
For Q1 2018, Dominion Energy's Gas Infrastructure Group's EBITDA were $612 million, which were in the lower half of its guidance range.
Dominion Energy's Midstream Partners' adjusted EBITDA were $79.5 million in Q1 2018 compared to $75.4 million in Q1 2017. The segment's distributable cash flow was $52.1 million, which was 18% above the performance of the year ago same period.
For Q2 2018, Dominion Energy expects operating earnings per share (EPS) to be in the range of $0.70 - $0.80 compared to $0.67 in Q2 2017. The positive drivers include earnings contributions from Cove Point, a return to normal weather, and the absence of a refueling outage at the Millstone Power Station.
Dominion Energy reaffirmed its full year FY18 operating EPS guidance of $3.80 - $4.25. The Company affirmed its intention to increase dividends per share by 10% per year through 2019, and in the band of 6% to 10% in 2020.
Stock Performance Snapshot
May 22, 2018 - At Tuesday's closing bell, Dominion Energy's stock slightly rose 0.16%, ending the trading session at $63.82.
Volume traded for the day: 3.36 million shares.
After yesterday's close, Dominion Energy's market cap was at $41.90 billion.
Price to Earnings (P/E) ratio was at 20.30.
The stock has a dividend yield of 5.23%.
The stock is part of the Utilities sector, categorized under the Electric Utilities industry. This sector was up 0.4% at the end of the session.
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