Dominion Energy Reports Mixed Bag Of Q1 Earnings, Sticks To Annual Guidance
Portfolio Pulse from Lekha Gupta
Dominion Energy Inc (NYSE:D) reported Q1 FY24 earnings with revenue of $3.632 billion, missing the consensus of $4.380 billion. Adjusted operating earnings decreased to $483 million from $515 million, and adjusted EPS fell to $0.55 from $0.59, aligning with consensus expectations. The company reaffirmed its FY24 and FY25 EPS guidance, countering rumors of delays in the Coastal Virginia Offshore Wind project. Investors can also gain exposure to Dominion Energy through BKGI and WBIY ETFs. Shares of Dominion Energy were slightly up in the latest trading session.
May 02, 2024 | 6:15 pm
News sentiment analysis
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NEUTRAL IMPACT
BKGI ETF, offering exposure to Dominion Energy, may see indirect impact from Dominion's Q1 earnings report and future guidance.
As an ETF that includes Dominion Energy, BKGI may experience indirect effects from Dominion's financial performance and outlook. However, the diversified nature of ETFs dilutes the impact of any single company's earnings report.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Dominion Energy reported lower Q1 FY24 earnings and revenue but reaffirmed future EPS guidance, positively addressing CVOW project delay rumors.
Despite the earnings miss, the reaffirmation of future EPS guidance and clarification on the CVOW project should stabilize investor sentiment. The slight stock price increase reflects a neutral to cautiously optimistic market reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
WBIY ETF, which includes Dominion Energy, could be influenced by Dominion's Q1 performance and reaffirmed guidance.
Given WBIY's inclusion of Dominion Energy, the ETF might see an indirect impact from Dominion's earnings and outlook. The effect is moderated by the ETF's diversified holdings, mitigating the influence of any single entity's financial outcomes.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50