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What's in the Cards for Dominion Energy's (D) Q3 Earnings?

·3 min read

Dominion Energy Inc. D is scheduled to release third-quarter 2020 earnings on Nov 5, before the market opens. This utility delivered an earnings surprise of 1.2% in the last reported quarter.

Let’s see how things have shaped up before the upcoming earnings announcement.

Factors to Note

The company generates a substantial portion of regulated electric and gas revenues from residential customers. With more people preferring to stay at home to prevent the coronavirus spread, electricity demand from the residential group increased, which is likely to have aided its third-quarter performance. Warmer summer temperature in July is also expected to have boosted demand in the third quarter.

However, higher share count and lower sales to commercial customers in the third quarter are expected to have offset these positives to some extent. Severe storms lashed its service territories during the third quarter, which could have increased operating expenses related to maintenance and repair of damaged infrastructure.

Expectation

Dominion Energy expects second-quarter earnings in the range of 85 cents to $1.05 per share. The Zacks Consensus Estimate for the same is pegged at $1.00 per share, indicating a decline of 15.3% from the year-ago reported figure.

Dominion Energy Inc. Price and EPS Surprise

Dominion Energy Inc. Price and EPS Surprise
Dominion Energy Inc. Price and EPS Surprise

Dominion Energy Inc. price-eps-surprise | Dominion Energy Inc. Quote

What Our Quantitative Model Predicts

Our proven model does not conclusively predict 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. But that is not the case here as you will see below.

Earnings ESP: The company’s Earnings ESP is 0.00%.

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 #2.

Stocks to Consider

Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat in the to-be-reported quarter.

Pampa Energia SA PAM is slated to release third-quarter 2020 results soon. It has an Earnings ESP of +1,537.50% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

SJW Group SJW is slated to release third-quarter 2020 results on Nov 4. It has an Earnings ESP of +2.15% and a Zacks Rank #3.

BCE Inc. BCE is slated to release third-quarter 2020 results on Nov 5. It has an Earnings ESP of +7.27% and a Zacks Rank #3.

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Dominion Energy Inc. (D) : Free Stock Analysis Report
 
BCE, Inc. (BCE) : Free Stock Analysis Report
 
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SJW Group (SJW) : Free Stock Analysis Report
 
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