What's in Store for Dominion Energy (D) in Q3 Earnings?
Dominion Energy Inc. D is scheduled to release its third-quarter 2022 earnings on Nov 4, before market open. In the last four reported quarters, the utility recorded an average earnings surprise of 0.97%.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Note
Dominion Energy’s third-quarter earnings are likely to have benefited from regulated investment and attractive customer growth, boosting demand for its services. Favorable weather conditions in its service territories are expected to have boosted demand and contributed to earnings in the third quarter.
However, higher interest expenses and share dilution are expected to have adversely impacted earnings in the third quarter.
Expectation
Dominion Energy expects earnings of 98 cents to $1.13 per share for the third quarter. The Zacks Consensus Estimate for the same is pegged at $1.08, indicating a decline of 2.7% from the year-ago reported figure.
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. That is not 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 -0.12%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to beat earnings in this reporting cycle.
Ameren Corporation AEE is likely to come up with an earnings beat when it reports third-quarter results on Nov 3. AEE has an Earnings ESP of +1.41% and a Zacks Rank #3 at present.
Ameren’s long-term (three to five-year) earnings growth is currently pegged at 7.2%. The Zacks Consensus Estimate for AEE’s 2022 and 2023 EPS indicates 6.2% and 7% year-over-year growth, respectively.
The AES Corporation AES is likely to come up with an earnings beat when it reports third-quarter results on Nov 3. AES has an Earnings ESP of +3.42% and a Zacks Rank #3 at present.
AES Corp.’s long-term earnings growth is currently pegged at 8.2%. The Zacks Consensus Estimate for AES’ 2022 and 2023 EPS indicates 5.9% and 10% year-over-year growth, respectively.
Brookfield Renewable Partners BEP is likely to come up with an earnings beat when it reports third-quarter results on Nov 4. BEP has an Earnings ESP of +28.57% and a Zacks Rank #2 at present.
The Zacks Consensus Estimate for BEP’s 2022 and 2023 earnings per unit indicates 62.3% and 132.9% year-over-year growth, respectively.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Ameren Corporation (AEE) : Free Stock Analysis Report
Dominion Energy Inc. (D) : Free Stock Analysis Report
The AES Corporation (AES) : Free Stock Analysis Report
Brookfield Renewable Partners L.P. (BEP) : Free Stock Analysis Report
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