Dominion Energy Q3 Revenue Misses Consensus, Profits Decline Across Segments
Portfolio Pulse from Lekha Gupta
Dominion Energy Inc reported Q3 FY23 revenue of $3.81 billion, missing the consensus of $4.38 billion. Operating earnings fell to $667 million from $847 million, declining across all segments. The company declared a quarterly dividend per share of 66.75 cents. In September, Dominion Energy announced agreements to sell its gas distribution companies to Enbridge Inc. Dominion Energy expects Q4 FY23 operating earnings per share of $0.35 versus the $0.93 consensus.
November 03, 2023 | 2:43 pm
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POSITIVE IMPACT
Enbridge Inc is set to acquire Dominion Energy's gas distribution companies.
The acquisition of Dominion Energy's gas distribution companies could potentially increase Enbridge's market share and revenue, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Dominion Energy reported lower than expected Q3 revenue and a decline in operating earnings. However, the company maintains its dividend commitment.
Dominion Energy's lower than expected Q3 revenue and decline in operating earnings could negatively impact its stock price. However, the company's commitment to its dividend could provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100