Dominion Q1 Earnings Top Expectations

reported stronger-than-expected operating earnings for its first quarter on Monday. The company affirmed its operating earnings forecast of $3.50 to $3.85 per share for the full year. For the current quarter, the company projects operating earnings of $0.65 to $0.75 per share, versus analysts' estimates of $0.79 per share. The Houston, Texas-based company reported a quarterly profit of $536 million, or $0.91 per share, versus a year-ago profit of $379 million, or $0.65 per share. Its operating earnings slipped to $0.99 per share from $1.04 per share. However, analysts were estimating operating earnings of $0.96 per share. The average estimate among 4 Estimize users was for earnings of $0.99 per share. Thomas F. Farrell II, chairman, president and chief executive officer said, "Our first-quarter operating earnings were at the top of our guidance range of $0.85 to $1.00 per share. We were pleased with the performance of our operating companies which met peak demands on our electric, pipeline and storage systems safely and without interruption." Dominion shares rose 0.42 percent to $72.00 in pre-market trading.