Utility Dominion Energy's third-quarter profit beats amid heat wave
Nov 3 (Reuters) - Electric utility Dominion Energy reported a third-quarter profit on Friday that beat analysts' estimates against the backdrop of heat wave conditions.
A heat wave blanketed much of the United States during the quarter, sparking a surge in electricity consumption as homes and businesses cranked up their air conditioners.
For the fourth quarter, the company forecast operating earnings of $0.35 per share, lower than estimates of $0.58, according to LSEG data.
Dominion Energy reported operating earnings of $0.77 per share in the third quarter, beating estimates of $0.76.
The company is in advanced stages to identify a equity financing partner for its Coastal Virginia Offshore Wind project, CEO Robert Blue said. (Reporting by Seher Dareen in Bengaluru; Editing by Shounak Dasgupta)
