Dominion Energy Tops Q2 Estimates, Guides Q3 Adj. EPS Below Consensus

Dominion Energy Inc D reported second-quarter FY23 revenue growth of 5.5% year-over-year to $3.79 billion, exceeding the consensus of $3.67 billion.

Adjusted EPS was $0.53 compared to $0.77 in 2Q22, beating the consensus of $0.48.

Operating earnings fell by 28.9% Y/Y to $468 million, declining across all segments. 

Operating expenses declined by 21.5% Y/Y to $3.07 billion.

Cash flow from operating activities rose to $3.19 billion for the six months ended June 30, 2023, compared to $1.36 billion a year ago.

Cash and equivalents stood at $137 million at the end of the quarter. 

3Q23 Outlook: Dominion Energy expects operating earnings per share of $0.72-$0.87 versus the $1.09 consensus.

Price Action: Dominion Energy shares are trading lower by 1.34% at $50.06 on last check Friday.